Alpha Health, a South San Francisco, CA-based Unified Automation company for healthcare, raised $20m in Series A funding.
This brought total investment to $25m. Both the seed round and series A funding were led by Andreessen Horowitz. Costanoa Ventures also participated in both rounds of funding and private investors, including Jim Momtazee, former head of healthcare investing at KKR, participated as well.
The company intends to use the funds to accelerate sales and marketing activities while scaling product deployment and development.
Alpha Health provides revenue cycle management (RCM) teams at health systems with Unified Automation – a single solution to autonomously navigate the complexities of medical reimbursement in the U.S, enabling health systems to decrease their cost of care. Its proprietary Unified Automation technology is an artificial intelligence platform as a service that operates within a healthcare system’s existing electronic health record (EHR) and revenue cycle infrastructure.
The solution is comprised of three distinct parts that work together seamlessly:
- Proprietary technology captures multimodal data to provide a 360-degree view of current workflows and processes
- This data is then used to train machine-learning models, constructing complex flows that are impossible to script by hand
- Finally, the system gets to work, autonomously performing tasks within the revenue cycle function 24/7. It automates full functions and quickly takes on new tasks over time. If complexities or exceptions arise, Alpha Health’s teleoperations team of RCM experts are notified to triage the problem and resolve it in real-time while the system learns from their actions.
FinSMEs
10/06/2020