What You Should Know:
– Boston-based health IT company Cohere Health has closed a $36 million Series B funding round led by Polaris Partners, with additional participation from new investors Longitude Capital and Deerfield Management, as well as existing investors Flare Capital Partners and Define Ventures. The round comes less than a year after the company launched, and only 3 months after a Series A extension.
– Cohere Health’s AI-based, fully automated solutions are being leveraged by health plans such as Humana to drive high provider adoption and reduce payer/provider friction across patients’ entire episodes of care—all while reducing delays and removing unnecessary costs.
– The funds will be used to enhance the company’s digital health solutions that use automation to transform current prior authorization approaches, with a goal of driving care journeys with greater collaboration between payers and providers.
– Cohere then uses authorization as a trigger to engage plans, providers, and patients in episode-based care paths that merge traditional utilization management, care management, and patient engagement functions.