What You Should Know:
– Humata Health, a company revolutionizing prior authorizations in healthcare with AI and automation raises $25M co-led by Blue Venture Fund and LRVHealth with participation from Optum Ventures, .406 Ventures, Highmark Ventures, and VentureforGood further demonstrates the widespread support for Humata’s innovative approach.
– With this significant investment, Humata Health will expand its AI capabilities, broaden its provider base, and partner with payers to create a future where prior authorizations are frictionless and efficient.
Addressing a Growing Challenge
Prior authorizations, a critical step in ensuring appropriate patient care, have become increasingly complex and time-consuming. Humata Health’s end-to-end technology tackles this challenge head-on, already trusted by over 42,000 physicians across 225 hospitals nationwide.
AI Powering Efficiency
Founded in 2023 by Dr. Jeremy Friese, a healthcare industry veteran, Humata leverages a combination of proprietary AI and acquired assets to deliver a comprehensive solution. Their AI engine analyzes vast amounts of data to recommend the most relevant clinical documents for each case, significantly improving submission quality. This translates to less work for payers, faster approvals for providers, and ultimately, better patient care.
“As a physician executive at Mayo Clinic, I learned both the challenging complexities and importance of the prior authorization process. That’s why I founded Verata Health and now Humata Health to deliver a solution that combines the power of AI, automation and connectivity between payers and providers to create a frictionless process,” said Jeremy Friese, MD, Chairman and CEO of Humata Health. “With a large and growing customer base of providers already, this investment validates our vision of solving prior authorization on both sides of the proverbial fax machine. Raising this investment from strategic investors that represent some of the nation’s largest and most
innovative providers and payers is a testament to our approach and rapidly accelerates our trajectory to have a positive impact for patients and the healthcare system.”
Humata Health’s platform goes beyond initial approvals. It continuously monitors for changes that could lead to denials, preventing costly delays. Additionally, seamless integrations with electronic health records and broad payer connectivity ensure smooth processing across all stages.
Responding to Regulatory Shifts
The recent ruling by the Centers for Medicare and Medicaid Services (CMS) mandating faster turnaround times for authorization decisions further emphasizes the need for efficient solutions. Humata Health is well-positioned to meet this growing demand.
