What You Should Know:
– Notable, a San Mateo, CA-based leader in healthcare intelligent automation, today announced it has raised $100M in Series B funding led by ICONIQ Growth, including participation by Greylock, F-Prime Capital, and Oak HC/FT to accelerate growth and innovation within the healthcare industry.
– The company plans to use the new round of funding to pioneer a novel intelligent automation approach for healthcare with the mission of reducing administrative burden and improving the patient experience – all in one platform.
– Healthcare delivery involves repetitive, manual workflows that account for over $1 trillion in administrative costs per year and compromise the quality of care. Leading health systems, including Intermountain Healthcare and CommonSpirit Health, use Notable’s platform to automate 100s of workflows across patient engagement, population health, and revenue cycle management. With Notable, staff and clinicians report saving 700+ hours of administrative work per provider per year; increased patient visit volume; reduced claim denials and improves patient outcomes while eliminating staff burden.
Intelligent Automation as-a-Service for Healthcare
Notable’s platform leverages AI to continually scan providers’ electronic health record systems (EHRs) and other applications, identifying automated workflows to perform. Common examples include collecting patients’ pre-visit registration information, submitting a prior authorization request, or reaching out to patients who are overdue for care. The platform leverages digital assistants to perform these workflows by clicking into fields, updating records, and uploading documents.
With a unified digital patient experience, Notable empowers providers to automate patient interactions from scheduling and registration to post-visit follow-up and payment collection. Patients are automatically notified when their provider needs information and can provide everything required through an intuitive digital interface. This eliminates the need for staff to support these workflows with manual phone calls, legacy paper forms, and repetitive data entry.
“Healthcare faces a staffing crisis, and overwhelming administrative burden challenges providers’ ability to deliver high-quality, affordable care and world-class patient experiences,” said Pranay Kapadia, co-founder and CEO of Notable. “This investment accelerates the execution of our vision to digitally transform and enrich patient-provider interactions with intelligent automation.”