Humata Health Secures $25M to Revolutionize Prior Authorizations with AI
Humata Health is at the forefront of enhancing healthcare operations through technology, specifically in the domain of prior authorizations.
Company Name: Humata Health
Location: Winter Park, FL
Sector: Healthcare, Technology
Funding Details: Raised $25M in funding. The round was led by Blue Venture Fund (representing the majority of BCBS plans) and LRVHealth (representing nearly 30 health systems and payers), with participation from Optum Ventures, .406 Ventures, Highmark Ventures, and VentureforGood.
Purpose of Investment: To broaden the scope of proprietary generative AI technologies, expand the customer base among leading healthcare providers, and initiate partnerships with payers and delegated entities to streamline prior authorizations.
Leadership: Led by CEO Jeremy Friese.
Product: Humata Health offers a platform that utilizes AI and automation to transform the prior authorization process for healthcare providers and payers. The platform leverages a proprietary database and AI engine to automate and improve the quality of clinical document submissions, aiding in the timely and efficient processing of necessary prior authorizations. This technology is designed to ensure that prescribed care is clinically appropriate and to reduce the administrative burden associated with manual processes.
About Company: Humata Health is at the forefront of enhancing healthcare operations through technology, specifically in the domain of prior authorizations. Its AI-powered solutions are currently used by over 42,000 physicians across 225 hospitals nationwide, showcasing its effectiveness in automating and improving a critical yet cumbersome part of healthcare administration.