Cohere Health Raises $50 Million in Equity to Meet Increased Demand for AI-Driven Transformation of Prior Authorization Process

New Funding Propels Cohere’s Expansion of Intelligent Prior Authorization Platform to Drive Better Payer-Provider Collaboration, Following CMS Interoperability and Prior Authorization Final Rule Cohere Health, a recognized leader in clinical intelligence and prior authorization automation, announced it has closed $50 million in additional equity funding. The funding was led by Deerfield Management, with participation from Define Ventures, Flare Capital Partners, Longitude Capital, and Polaris Partners, and brings the total raised by Cohere to $106 million. The latest round of funding will fuel the company’s expansion to meet the increasing demand for Cohere’s intelligent prior authorization platform. “The significant growth Cohere has experienced in the last four years demonstrates the high demand we are seeing from health plans and risk-bearing providers to combat antiquated prior authorization processes and to improve patient access and experience,” said Siva Namasivayam, Co-Founder and CEO at Cohere. “We are seeing even greater traction and growth with both our current portfolio and new clients. From less than 10 individuals in January 2020 to more than 700 employees today, we are thrilled to enter this next growth phase.” The Centers for Medicare & Medicaid Services Interoperability and Prior Authorization rule, finalized this January, will require health plan investment in advanced technology to ensure compliance with feder...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT Cohere Cohere Health Deerfield Management Define Ventures Flare Capital Partners Health IT Funding Health IT Fundings Health IT Investment Longitude Capital Michael Greeley Polaris Partners Siva Na Source Type: blogs