Healthcare automation company Notable has raised $100 million in a Series B funding round, according to a Wednesday (Nov. 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. In addition, the company plans to improve its platform capabilities, per the announcement.
Healthcare organizations leverage the Notable platform to automate repetitive, manual workflows, including scheduling, registration, post-visit follow-up and payment collection. By harnessing artificial intelligence (AI), Notable said its platform can perform millions of tasks each week in place of clinicians and staff, saving more than 700 hours of administration work per clinician each year on tasks such as writing clinical documentation or adding billing codes.
“Healthcare faces a staffing crisis, and the overwhelming administrative burden challenges providers’ ability to deliver high-quality, affordable care and world-class patient experiences,” said Notable Co-founder and CEO Pranay Kapadia. “This investment accelerates the execution of our vision to digitally transform and enrich patient-provider interactions with 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 patients’ pre-visit registration information, submitting a prior authorization request or reaching out to patients who are overdue for care.
Notable’s funding round and subsequent platform upgrades are part of AI’s growing presence in the healthcare sector. This week, the Massachusetts AI and Technology Center for Connected Care in Aging and Alzheimer’s Disease opened in part through a $20 million grant. And last month, healthcare AI company Treatment.com announced it is partnering with the University of Minnesota Medical School to enhance diagnostics.
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