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 means 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 varieties, 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 instances, improve throughput, and enhance industrial outcomes.
AI-Powered Doc Automation for Healthcare
Tennr’s expertise stands out within the healthcare sector as a result of its deal with doc parsing and workflow automation tailor-made particularly for medical practices. Not like basic AI fashions that goal 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, usually messy paperwork that cross between healthcare suppliers. This contains every part from affected person consumption varieties to insurance coverage claims, which ceaselessly include information that’s tough to parse for normal automation instruments.
A key benefit of Tennr’s platform is its capability to deal with healthcare-specific doc challenges, similar to multi-patient information or varieties with checkboxes, the place present applied sciences usually fall brief. For instance, Tennr’s “Multi-Affected person” mannequin identifies which elements of prolonged paperwork correspond to particular sufferers, lowering the time wanted to course of varieties and rising 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 present AI options.
Tennr’s CEO, Trey Holterman, highlighted the need of this focus, stating, “I feel checkboxes are instance of a state of affairs the place nothing in the marketplace, paid or open-source, was even near hitting the accuracy necessities we would have liked. The varieties you fill out at a clinic are principally 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”
Vital Positive factors for Healthcare Suppliers
Tennr’s platform has already delivered substantial worth to healthcare suppliers throughout the USA. 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 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 setting the place healthcare reimbursements are below strain.
Darius Reid, Head of Operations at Complete Medical Provide, famous the platform’s transformative impression: “Utterly 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 instances, Tennr’s platform helps healthcare suppliers stop expensive errors. With its AI-powered doc evaluate, Tennr flags lacking info or incorrect documentation earlier than it reaches insurance coverage suppliers, lowering declare denials and serving to practices keep away from time-consuming rework. This degree 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 following yr, 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 enhancing your entire affected person expertise. This contains 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 means of a healthcare apply, Tennr automates duties similar to scheduling, affected person qualification, insurance coverage verification, and extra.
For instance, Tennr ensures that healthcare practices have the proper documentation available for insurance coverage claims. Its system cross-checks paperwork in opposition to 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 most recent developments.
A Strategic Partnership with Lightspeed Ventures
Lightspeed Ventures, which led this newest spherical of funding, sees huge potential in Tennr’s strategy. Alex Kayyal, companion at Lightspeed, commented on the funding: “It is clear that Tennr’s product is assembly a big market want throughout the healthcare business. Their workflow automation platform drives vital ROI for purchasers whereas enhancing the affected person expertise dramatically. We have been deeply impressed with the workforce’s imaginative and prescient and execution, and are excited to companion with Tennr as they create 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 instances, 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 contemporary funding in hand and a rising buyer base, Tennr’s AI-powered platform is about to grow to be a necessary device for healthcare organizations seeking to enhance each affected person care and enterprise efficiency.
