Announcements

Humata Health has received $25 million in a funding round to improve the prior authorization experience for payers and providers.

The funding round was led by Blue Venture Fund, the VC arm of most Blue Cross Blue Shield companies, and LRVHealth. Other investors included Optum Ventures, .406 Ventures, Highmark Ventures and VentureforGood.

Humata says the company will use the funds to invest further in generative AI. Its products give recommendations on documents that should be included in a prior auth submission using machine learning. Potential reasons for claims denials are flagged by the system.

The company was founded by Jeremy Friese, M.D., in 2023. Dr. Friese brings a clinical perspective as a former radiologist and previously founded Verata Health in 2020, giving him extensive experience in healthcare technology and prior authorization solutions.

Read the original article created by Fierce Healthcare here.