Humata Health, a Winter Park, FL-based company creating prior authorizations for payers and providers with AI and automation, 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.
The company intends to use the funds to broaden the scope of its proprietary generative AI technologies, expand its customer base with leading healthcare providers, and begin partnering with payers and delegated entities to deliver complementary solutions that help them streamline prior authorizations.
Led by CEO Jeremy Friese, Humata Health provides a platform that transforms the end-to-end experience of prior authorizations for providers and payers. With its proprietary database, its AI engine employs machine learning to offer informed recommendations for clinical documents that should be included to improve submission quality. More than 42,000 physicians at 225 hospitals across the country use its technology to automate the manual, increasingly complicated process of prior authorizations, which often serves as an important checkpoint to ensure prescribed care is clinically appropriate.
FinSMEs
20/06/2024