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 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 kinds, insurance coverage claims, or affected person information—permitting healthcare suppliers to deal with what issues most: affected person care. By automating these crucial workflows, Tennr helps practices scale 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 because of its deal with doc parsing and workflow automation tailor-made particularly for medical practices. Not like common AI fashions that purpose 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, usually messy paperwork that go between healthcare suppliers. This contains every thing from affected person consumption kinds to insurance coverage claims, which steadily comprise knowledge that’s tough to parse for normal automation instruments.
A key benefit of Tennr’s platform is its capacity to deal with healthcare-specific doc challenges, similar to multi-patient information or kinds with checkboxes, the place current applied sciences usually fall quick. For instance, Tennr’s “Multi-Patient” mannequin identifies which elements of prolonged paperwork correspond to particular sufferers, decreasing the time wanted to course of kinds and growing 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 think checkboxes are a good example of a situation where nothing on the market, paid or open-source, was even close to hitting the accuracy requirements we needed. The forms you fill out at a clinic are mostly checkboxes and so we addressed that by building a checkbox reader. We applied novel vision techniques we’d learned about in 2022, with what had to be the world’s largest dataset of labeled checkboxes”
Vital Features for Healthcare Suppliers
Tennr’s platform has already delivered substantial worth to healthcare suppliers throughout america. By automating doc workflows, practices can drastically lower down on administrative overhead. The place processing a affected person’s documentation may need taken days or perhaps 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 surroundings the place healthcare reimbursements are below strain.
Darius Reid, Head of Operations at Complete Medical Provide, famous the platform’s transformative affect: “Completely transformative to our workflow. We’re now processing new patients in a fraction of the time it used to take, which has been a game-changer.”
Along with slicing down processing instances, Tennr’s platform helps healthcare suppliers stop expensive errors. With its AI-powered doc evaluation, 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 employees 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 companies to extra healthcare specialties that also depend on guide 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 complete affected person expertise. This contains streamlining your complete 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 group 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 usually lavatory down healthcare suppliers. By processing and categorizing each doc that comes by 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, making certain 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 method. Alex Kayyal, associate at Lightspeed, commented on the funding: “It’s clear that Tennr’s product is meeting a significant market need across the healthcare industry. Their workflow automation platform drives significant ROI for customers while improving the patient experience dramatically. We’ve been deeply impressed with the team’s vision and execution, and are excited to partner with Tennr as they bring more AI native capabilities to healthcare organizations.”
Conclusion
Tennr is on the forefront of a crucial transformation in healthcare. By automating the doc workflows that lavatory down medical practices, Tennr helps suppliers see extra sufferers, scale 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 recent 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.
