Cohere Health closed a financing round of series C $ 90 million on Wednesday, taking its total financing to date to $ 200 million.
The Boston company, founded in 2019, aims to fix inefficiencies and administrative burden associated with the traditional prioritization process. When rationalizing this process, Chere, seeks to reduce treatment delays and reduce the workload of medical care providers, said CEO Siva Namasivayam.
The startup automates prior authorization by digitizing authorization requests and evaluating them against medical guidelines using AI, he explained. This system is integrated with the EHR of a supplier, which allows faster suppliers, as well as the fastest care decisions of doctors, Namasivayam said.
A 2024 survey of the American Medical Association showed that 93% of doctors say that prior authorization led to delays in patients, and that 1 in 4 says that previous authorization has led to a serious advertiser event for a patient under their care.
COHERE sells its platform mainly to health plans and risk suppliers. The company has clients of health plans in the 50 states, said Namasivayam. These consist of national and regional plans, including Geisinger Health Plan and Mutual Medical, as well as blue affiliates, he added.
He also noted that Chere is working with almost 600,000 suppliers, and processes more than 12 million prioritization requests annually.
Namasivayam identified the suppliers of inherited use management as the main competitors of Cohere and said that their beginning differentiates ITELF from the thesis companies through the quality of their technology.
“What is established separately is its intelligent precision clinical approach for AI and their personalized approach: support suppliers at the time with cured experiences to improve health results for patients. COPE technology is designed to deny, to never deny treasure approvals, crowns, thesenna – Theshine –Shine -Thlinician, Human, “,”, “,”, which analyzes.
The Cohere’s C series round was directed by TeMek, with the participation of Flare Capital Partners, Deerfield Management, Define Ventures, Longile Capital and Polaris Partners.
In his Bulletin on Wednesday, the general partner of Flare Capital, Michael Greley, said that the high level of interest of investors in the coherent was due to two main factors: the clinical and technical experience of the leadership team, as well as the “great and burvante, the opportunity for opportunities for the opportunity for opportunities opportunities.
“Being an innovative category leader recognized with a relevant and sophisticated investor union that faced inherited suppliers said that potential clients felt that they had to involve the company to see the art of possible and impressive customers,” Greley wrote.
In his opinion, this important round of finance cemented the Coheo as the emerging winner in the category of prior authorization technology.
Photo: Andranik Hakobyan, getty images