Healthcare AI startup Tennr has secured $37 million in a Sequence B funding spherical, simply six months after its $18 million Sequence A. Led by Lightspeed Ventures, with participation from a16z and Basis Capital, this newest spherical brings Tennr’s whole funding to over $61 million. Tennr is utilizing synthetic intelligence (AI) to revolutionize how healthcare organizations handle and course of the mountains of paperwork that move by way of their practices day by day.
Tennr’s AI platform automates the labor-intensive duties concerned in dealing with medical documentation—whether or not it is referral types, insurance coverage claims, or affected person information—permitting healthcare suppliers to deal with what issues most: affected person care. By automating these important workflows, Tennr helps practices cut back affected person wait occasions, enhance throughput, and enhance business outcomes.
AI-Powered Doc Automation for Healthcare
Tennr’s expertise stands out within the healthcare sector on account of its deal with doc parsing and workflow automation tailor-made particularly for medical practices. Not like basic AI fashions that intention to serve a number of industries, Tennr’s machine studying fashions are designed with healthcare in thoughts. These fashions learn, categorize, and reply to the advanced, typically messy paperwork that cross between healthcare suppliers. This contains every part from affected person consumption types to insurance coverage claims, which ceaselessly include knowledge that’s tough to parse for traditional automation instruments.
A key benefit of Tennr’s platform is its potential to deal with healthcare-specific doc challenges, equivalent to multi-patient information or types with checkboxes, the place current applied sciences typically fall brief. For instance, Tennr’s “Multi-Affected person” mannequin identifies which components of prolonged paperwork correspond to particular sufferers, lowering the time wanted to course of types and growing accuracy. Moreover, the platform integrates a custom-built checkbox reader, developed from one of many largest datasets of labeled checkboxes, addressing a serious hole in current AI options.
Tennr’s CEO, Trey Holterman, highlighted the need of this focus, stating, “I believe checkboxes are a superb instance of a scenario the place nothing in the marketplace, paid or open-source, was even near hitting the accuracy necessities we wanted. The types you fill out at a clinic are largely checkboxes and so we addressed that by constructing a checkbox reader. We utilized novel imaginative and prescient methods we’d realized about in 2022, with what needed to be the world’s largest dataset of labeled checkboxes”
Important Features for Healthcare Suppliers
Tennr’s platform has already delivered substantial worth to healthcare suppliers throughout america. By automating doc workflows, practices can drastically reduce down on administrative overhead. The place processing a affected person’s documentation might need taken days or perhaps weeks, Tennr’s platform reduces this to mere hours, permitting suppliers to see extra sufferers sooner and with fewer delays. Practices additionally profit from fewer insurance coverage declare denials, which helps them seize extra income in an atmosphere the place healthcare reimbursements are beneath stress.
Darius Reid, Head of Operations at Complete Medical Provide, famous the platform’s transformative impression: “Fully transformative to our workflow. We’re now processing new sufferers in a fraction of the time it used to take, which has been a game-changer.”
Along with slicing down processing occasions, Tennr’s platform helps healthcare suppliers stop pricey errors. With its AI-powered doc evaluate, Tennr flags lacking data or incorrect documentation earlier than it reaches insurance coverage suppliers, lowering declare denials and serving to practices keep away from time-consuming rework. This stage of automation ensures that fewer workers are wanted to handle administrative duties, easing the burden on healthcare employees and stopping burnout.
Increasing Tennr’s Attain and Capabilities
With the brand new Sequence B funding, Tennr plans to develop its analysis and engineering groups, additional refining its expertise and increasing its market presence. The corporate goals to increase its providers to extra healthcare specialties that also depend on handbook processes for doc administration. Over the subsequent 12 months, Tennr expects its platform to facilitate the motion of greater than 10% of all sufferers referred all through the U.S. healthcare system.
Tennr’s product isn’t nearly doc administration; it is about bettering all the affected person expertise. This contains streamlining all the pre-visit course of in healthcare—from the second a doc is obtained to the purpose a affected person is cleared with insurance coverage and prepared for scheduling.
Constructing for the Way forward for Healthcare
Based by a group of specialists in AI and healthcare, Tennr combines cutting-edge machine studying with deep trade information. The corporate’s platform automates the important, but tedious, administrative duties that usually lavatory down healthcare suppliers. By processing and categorizing each doc that comes by way of a healthcare follow, Tennr automates duties equivalent to scheduling, affected person qualification, insurance coverage verification, and extra.
For instance, Tennr ensures that healthcare practices have the right documentation readily available for insurance coverage claims. Its system cross-checks paperwork towards complete rule units and flags any lacking or incorrect data. This helps practices keep away from pricey declare denials and audits. The platform even manages communications with sufferers and suppliers, guaranteeing that everybody concerned in a affected person’s care is up-to-date on the most recent developments.
A Strategic Partnership with Lightspeed Ventures
Lightspeed Ventures, which led this newest spherical of funding, sees monumental potential in Tennr’s method. Alex Kayyal, associate at Lightspeed, commented on the funding: “It is clear that Tennr’s product is assembly a big market want throughout the healthcare trade. Their workflow automation platform drives vital ROI for patrons whereas bettering the affected person expertise dramatically. We have been deeply impressed with the group’s imaginative and prescient and execution, and are excited to associate with Tennr as they convey extra AI native capabilities to healthcare organizations.”
Conclusion
Tennr is on the forefront of a important transformation in healthcare. By automating the doc workflows that lavatory down medical practices, Tennr helps suppliers see extra sufferers, cut back wait occasions, and keep away from pricey errors in insurance coverage claims. As healthcare continues to evolve, Tennr is positioning itself as a key participant in streamlining operations for suppliers throughout the U.S. With recent funding in hand and a rising buyer base, Tennr’s AI-powered platform is ready to grow to be a vital instrument for healthcare organizations seeking to enhance each affected person care and enterprise efficiency.
