Humata Health, a powerful blend of AI, automation, and payer connectivity to transform prior authorizations. has raised $25 million in funding round led by Blue Venture Fund (representing the majority of BCBS plans) and LRVHealth (representing nearly 30 health systems and payers) with participation from Optum Ventures, .406 Ventures, Highmark Ventures, and VentureforGood.
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This financing will help the company grow its suite of proprietary, generative AI technologies; extend its customer base to include the nation’s leading healthcare providers; and partner with payers and leading delegated entities for the delivery of complementary solutions designed to simplify prior authorizations.
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“As a physician executive at Mayo Clinic, I learned both the challenging complexities and importance of the prior authorization process. That’s why I founded Verata Health and now Humata Health to deliver a solution that combines the power of AI, automation and connectivity between payers and providers to create a frictionless process,” said Jeremy Friese, MD, Chairman and CEO of Humata Health. “With a large and growing customer base of providers already, this investment validates our vision of solving prior authorization on both sides of the proverbial fax machine. Raising this investment from strategic investors that represent some of the nation’s largest and most innovative providers and payers is a testament to our approach and rapidly accelerates our trajectory to have a positive impact for patients and the healthcare system.”
“Highmark is excited to partner with Humata to continue their work of transforming the prior authorization process,” said Carl Daley, CFO of Highmark Health. “Their solutions help providers to focus more on patient care rather than paperwork. We are excited to see how their continued innovation will further improve the process for our providers and health plan.”
About Humata Health
Founded in 2023 by industry veteran and serial entrepreneur, Dr. Jeremy Friese, Humata Health is revolutionizing Prior Authorization and Utilization Management with cutting-edge AI and automation. Its commitment is to deliver a seamless, efficient, and automated workflow for healthcare providers and payers.
Humata’s mission for providers and payers is to make 90% of PA touchless, enable processing to be completed in <2 minutes when human intervention is required, and bring complete transparency transparent for patients throughout the process.
