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. He served as a president of healthcare AI startup Olive, before the business sold its remaining assets to Waystar and Humata Health. Olive acquired another prior auth company he co-founded, Verata Health, in 2020.

Read the original article created by Fierce Healthcare here.