Cohere Health, a Boston, MA-based company which specialises in clinical intelligence and prior authorization automation, raised $50M in Equity funding.
The round, which brought the total amount to $106M, was led by Deerfield Management, with participation from Define Ventures, Flare Capital Partners, Longitude Capital, and Polaris Partners.
The company intends to use the funds to accelerate its expansion to meet the demand for its platform.
Led by CEO Siva Namasivayam, Cohere Health is a clinical intelligence company that provides intelligent prior authorization by aligning physicians and health plans on evidence-based care paths for the patient’s entire care journey and reduce administrative expenses while improving patient outcomes.
Cohere serves five health plans, processing 5.5 million intelligent prior authorizations annually for more than 15 million health plan members and 420,000 healthcare providers nationally.
Commenting on the news, Siva Namasivayam said: “The significant growth Cohere has experienced in the last four years demonstrates the high demand we are seeing from health plans and risk-bearing providers to combat antiquated prior authorization processes and to improve patient access and experience.”
FinSMEs
02/02/2024