The software company Notable that uses intelligent automation to simplify administrative healthcare tasks, including appointment scheduling, has raised $100 million in its series B funding round, increasing its valuation to $600 million.
Notable’s platform of AI-powered “digital assist ants” automates administrative workflows to perform millions of tasks every week for clinicians, eliminating over 700 hours of work every year per clinician, according to the company.
Healthcare administrative tasks, which often involve repetitive, manual work like documentation and billing, can cost up to $1 trillion every year.
“Healthcare faces a staffing crisis, and overwhelming administrative burden challenges providers’ ability to deliver high-quality, affordable care and world-class patient experiences,” said Pranay Kapadia, co-founder and CEO of Notable, in a statement. “This investment accelerates the execution of our vision to digitally transform and enrich patient-provider interactions with intelligent automation.”
The round was led by ICONIQ Growth and included participation by Greylock, F-Prime Capital and Oak HC/FT. To date, Notable has raised $119 million.
Founded in 2017, Notable removes the need for manual workflows by scanning electronic health records and other applications and using digital assistants to collect patient pre-visit registration information, reach out to patients who are overdue for care and perform other workflows.
The platform updates in real-time with incoming patient information, too—patients get notified when their provider needs information for them and can provide that information digitally, which is automatically synced with the provider’s system
For more information see the FIERCE Healthcare Article “Notable nabs $100M to automate administrative tasks in healthcare, boosts valuation to $600M”
