Notable $100 million notches for health tech
Healthcare automation company Notable has raised $100 million in a Series B funding round, according to a Wednesday, November 3, press release. Led by ICONIQ Growth, the round saw participation from Greylock, F-Prime Capital and Oak HC/FT.
Notable has earmarked the funds to expand access to its platform to more healthcare providers. Additionally, the company plans to enhance its platform capabilities, as per the announcement.
Healthcare organizations leverage the Notable platform to automate repetitive manual workflows, including scheduling, check-in, post-visit follow-up, and payment collection. By leveraging artificial intelligence (AI), Notable said its platform can perform millions of tasks each week for clinicians and staff, saving more than 700 hours of administrative work per clinician each year on tasks such as writing clinical documentation or adding billing codes.
“The healthcare industry is facing a staffing crisis, and the overwhelming administrative burden is testing the ability of providers to deliver affordable, high-quality care and world-class patient experiences,” Pranay said. Kapadia, co-founder and CEO of Notable. “This investment accelerates the execution of our vision to digitally transform and enrich patient-provider interactions through intelligent automation.”
Notable’s platform uses digital assistants to scan providers’ electronic health record systems and other applications to identify automated workflows to perform, including collecting pre-registration information. visiting patients, submitting a request for prior authorization or contacting patients who are overdue for care.
Notable’s funding round and subsequent platform upgrades are part of the growing presence of AI in healthcare. This week, the Massachusetts AI and Technology Center for Connected Care in Aging and Alzheimer’s Disease opened in part with a $20 million grant. And last month, healthcare AI company Treatment.com announced it was partnering with the University of Minnesota Medical School to improve diagnostics.
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