Notable $ 100 million notches for health tech
Healthcare automation firm Notable has raised $ 100 million in a Series B funding round, according to a press release on Wednesday, November 3. Led by ICONIQ Growth, the cycle saw participation from Greylock, F-Prime Capital and Oak HC / FT.
Notable has earmarked the funds to expand access to its platform to more healthcare providers. In addition, the company plans to improve the capabilities of its platform, according to the announcement.
Healthcare organizations are leveraging the Notable platform to automate repetitive manual workflows, including planning, enrollment, post-visit tracking, and payment collection. By harnessing artificial intelligence (AI), Notable said its platform can perform millions of tasks every week in place of clinicians and staff, saving more than 700 hours of administrative work per clinician each year over time. tasks such as writing clinical documentation or adding billing codes.
“Healthcare is facing a staffing crisis and the overwhelming administrative burden calls into question the ability of providers to provide high-quality, affordable care and world-class experiences to patients,” said the co-founder and CEO of Notable. Pranay Kapadia. “This investment accelerates the implementation of our vision to digitally transform and enrich patient-provider interactions through intelligent automation. “
Notable’s platform uses digital assistants to analyze vendor electronic health record systems and other applications to identify automated workflows to perform, including collecting pre-visit registration information. patients, submitting a prior authorization request, or communicating with patients with overdue care.
Notable’s funding cycle and subsequent platform upgrades are part of AI’s growing presence in healthcare. This week, the Massachusetts AI and Technology Center for Connected Care in Aging and Alzheimer’s Disease opened in part thanks to a $ 20 million grant. And last month, the AI healthcare company Treatment.com announced its partnership with the University of Minnesota School of Medicine to improve diagnostics.
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