Notable raises $100M to automate administrative tasks
Physicians spend more than an hour of “pajama time” after work entering information into health record systems. To address this, some startups are automating redundant tasks, looking to free up time for clinicians and cut down on administrative costs.
Notable, a startup that scans providers’ EHR systems to identify automated workflows, recently raised $100 million in funding led by ICONIQ Growth. Founder Pranay Kapadia, former head of product for Intuit’s consumer finance app Mint, started the company after talking to his wife about the amount of paperwork she faced in her work as a physician.
The San Mateo-based startup can automatically notify patients when it needs to collect pre-visit information, for example, or to help them schedule appointments or procedures.
It also can handle tasks around payments, including submitting requests for prior authorization, and contacting patients about collections. For health systems, this means less staff needed for data entry and call centers.
So far, Notable has won over some big customers. They include Intermountain Healthcare, Houston Methodist and CommonSpirit Health.
“Physicians today spend more time in front of their computer than in front of patients,” Houston Methodist Chief Medical Information Officer Nicholas Desai said in a news release. “By automating administrative tasks that clinicians are required to perform, Notable empowers us to practice at top of license and better serve patients in our communities.”
The startup plans to use the funds to expand access to its platform to more providers, and to enhance its platform’s capabilities.
It faces competition from some other fast-growing companies. Olive, another company uses software to automate administrative tasks, was valued at more than $4 billion in a recent funding round.
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