Healthcare AI startup Tennr has secured $37 million in a Collection B funding spherical, simply six months after its $18 million Collection A. Led by Lightspeed Ventures, with participation from a16z and Basis Capital, this newest spherical brings Tennr’s complete 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 stream by their practices each day.
Tennr’s AI platform automates the labor-intensive duties concerned in dealing with medical documentation—whether or not it is referral kinds, insurance coverage claims, or affected person data—permitting healthcare suppliers to give attention to what issues most: affected person care. By automating these vital workflows, Tennr helps practices scale back affected person wait occasions, enhance throughput, and enhance industrial outcomes.
AI-Powered Doc Automation for Healthcare
Tennr’s expertise stands out within the healthcare sector because of its give attention to doc parsing and workflow automation tailor-made particularly for medical practices. Not like normal 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 complicated, typically messy paperwork that move between healthcare suppliers. This consists of all the pieces from affected person consumption kinds to insurance coverage claims, which steadily comprise information that’s troublesome to parse for normal automation instruments.
A key benefit of Tennr’s platform is its skill to deal with healthcare-specific doc challenges, reminiscent of multi-patient data or kinds with checkboxes, the place current applied sciences typically fall brief. For instance, Tennr’s “Multi-Affected person” mannequin identifies which elements of prolonged paperwork correspond to particular sufferers, decreasing the time wanted to course of kinds and rising accuracy. Moreover, the platform integrates a custom-built checkbox reader, developed from one of many largest datasets of labeled checkboxes, addressing a significant hole in current AI options.
Tennr’s CEO, Trey Holterman, highlighted the need of this focus, stating, “I feel checkboxes are a superb instance of a scenario the place nothing available on the market, paid or open-source, was even near hitting the accuracy necessities we wanted. The kinds 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 strategies we’d discovered about in 2022, with what needed to be the world’s largest dataset of labeled checkboxes”
Vital Positive factors for Healthcare Suppliers
Tennr’s platform has already delivered substantial worth to healthcare suppliers throughout the US. By automating doc workflows, practices can drastically minimize down on administrative overhead. The place processing a affected person’s documentation may need taken days or even weeks, Tennr’s platform reduces this to mere hours, permitting suppliers to see extra sufferers quicker 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 below strain.
Darius Reid, Head of Operations at Whole Medical Provide, famous the platform’s transformative affect: “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 reducing down processing occasions, Tennr’s platform helps healthcare suppliers stop expensive errors. With its AI-powered doc overview, Tennr flags lacking info or incorrect documentation earlier than it reaches insurance coverage suppliers, decreasing 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 staff and stopping burnout.
Increasing Tennr’s Attain and Capabilities
With the brand new Collection 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 your entire affected person expertise. This consists of streamlining your entire pre-visit course of in healthcare—from the second a doc is acquired 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 workforce of consultants in AI and healthcare, Tennr combines cutting-edge machine studying with deep business data. The corporate’s platform automates the important, but tedious, administrative duties that always lavatory down healthcare suppliers. By processing and categorizing each doc that comes by a healthcare apply, Tennr automates duties reminiscent of scheduling, affected person qualification, insurance coverage verification, and extra.
For instance, Tennr ensures that healthcare practices have the proper documentation readily available for insurance coverage claims. Its system cross-checks paperwork towards complete rule units and flags any lacking or incorrect info. This helps practices keep away from expensive 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 newest developments.
A Strategic Partnership with Lightspeed Ventures
Lightspeed Ventures, which led this newest spherical of funding, sees huge potential in Tennr’s method. Alex Kayyal, associate at Lightspeed, commented on the funding: “It is clear that Tennr’s product is assembly a major market want throughout the healthcare business. Their workflow automation platform drives important ROI for patrons whereas bettering the affected person expertise dramatically. We have been deeply impressed with the workforce’s imaginative and prescient and execution, and are excited to associate with Tennr as they bring about extra AI native capabilities to healthcare organizations.”
Conclusion
Tennr is on the forefront of a vital transformation in healthcare. By automating the doc workflows that lavatory down medical practices, Tennr helps suppliers see extra sufferers, scale back wait occasions, and keep away from expensive 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 about to grow to be an important software for healthcare organizations seeking to enhance each affected person care and enterprise efficiency.
