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The company is now used by more than 20 health systems and tens of thousands of frontline leaders
Laudio is a company that uses AI to give frontline managers a better way to connect with their teams, automating repetitive work and provides daily recommendations and best practices that help managers gain better visibility into their teams. It tracks information and reports it in on a dashboard that helps nurse managers keep up with birthdays and service anniversaries, education and training accomplishments, and other events.
Last week, the company announced partnerships with new health systems including Northwell Health and Nebraska Medicine, adding more than 15,000 frontline employees across clinical and operation functions to the Laudio platform.
Northwell Health is New York’s largest healthcare provider and private employer, with more than 83,000 employees working across 21 hospitals and 900 outpatient facilities, while Nebraska Medicine consists of two hospitals, Nebraska Medical Center and Bellevue Medical Center, and 70 specialty and primary care clinics.
Russ Richmond, MD, CEO and co-founder of Laudio, spoke to VatorNews about the partnerships, what each health system is looking for, and what's next for the company.
VatorNews: Why are Northwell Health and Nebraska Medicine good partners for Laudio? What specific need did they have that you are filling for them?
Russ Richmond: Every health system CEO says that labor productivity and burnout is their top issue. Since our launch in 2017, Laudio has understood the challenges health systems face and has been devoted to building solutions that empower frontline leaders to do the best work of their lives, all while improving retention, labor productivity, service, quality, and safety.
VN: What kind of ROI are they hoping to see as a result of this partnership? What metrics would the health systems see as success?
RR: Laudio was operating at 4:1 ROI at the end of year 1, with clients breaking even on the product in 3 months. For some health systems, Laudio is able to save 33K manager hours annually and reduce costs by $12.3M annually. Success though, ultimately comes down to caregiver retention and how it aids in and multiplies caregiver quality.
VN: How many health systems are now using Laudio in all?
RR: Laudio is currently used by more than 20 health systems and tens of thousands of frontline leaders.
VN: What's next for the company? What's your vision for where it will be in the next year or two?
RR: This year is all about deepening the action-orientation of our platform, and scaling growth and product development. We’re also expanding our sales team and increasing overall investment in marketing, focusing on generating awareness for its product. Additionally, Laudio is making larger investments in its AI and analytics platform, which nudge leaders to take the right action at the right time through real-time recommendations.
We plan on establishing ourselves as the future of work within the healthcare space this year. We believe that the future of work is going to be about automation and collaboration, and our software achieves that. We’re able to automate administrative work and allow managers and leaders to focus on what’s truly important
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