Humata Health is a healthcare technology company focused on transforming the prior authorization process within the industry using artificial intelligence (AI) and automation. Established in 2023 by Dr. Jeremy Friese, a seasoned entrepreneur and former interventional radiologist at the Mayo Clinic, Humata Health is headquartered in Winter Park, Florida. The company has rapidly gained industry recognition by securing $25 million in Series A funding from notable investors, including .406 Ventures and Optum Ventures, to fuel its growth and innovation in streamlining administrative tasks for healthcare providers and payers.
July 2024: Humata Health announced a successful $25 million investment round led by Blue Venture Fund and LRVHealth. The funds are intended to expand Humata’s generative AI technologies and broaden its customer base among healthcare providers and partners.
June 2024: Humata Health leveraged new funding to enhance its AI tools, aiming to streamline prior authorizations. This initiative aligns with recent CMS regulations mandating quicker decision times for insurance authorizations, which could potentially boost the demand for Humata's offerings.
January 2024: The Centers for Medicare and Medicaid Services (CMS) enforced a rule requiring health plans to expedite prior authorization decisions, a development Humata is poised to address through its AI-driven solutions.
| Attribute | Information |
|---|---|
| Founding Date | 2023 |
| Headquarters | Winter Park, Florida |
| Founders | Dr. Jeremy Friese |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | .406 Ventures, Optum Ventures, Blue Venture Fund |
| Industry | Health technology |
| Number of Employees | Information not publicly available |
Humata Health was founded in 2023 by Dr. Jeremy Friese, who leveraged his prior experience from Verata Health, a company acquired by Olive AI in 2020. Dr. Friese envisioned creating a seamless prior authorization process by combining AI and payer-provider connectivity. Starting off in Winter Park, Florida, the company quickly developed a robust offering that attracted interest from various sectors within the healthcare industry. With the aim of reducing complexities and improving workflow efficiencies, Humata's early journey was marked by rapid technological development and securing partnerships with leading health systems.
Humata Health specializes in utilizing AI to revolutionize prior authorizations, a traditionally labor-intensive process. The company offers an advanced platform that automates these processes, resulting in cost savings and efficiency improvements for both payers and providers.
Currently, Humata Health operates in the health technology space, specifically focusing on automating the prior authorization workflow. Its platform effectively connects payers and providers, streamlining operations and reducing administrative burdens. Humata stands out in the market with its unique AI-driven automation, which differentiates it from other companies by offering a more integrated and user-friendly experience. As the healthcare industry grapples with regulatory changes and operational demands, Humata's innovative approach propels it forward as a key player.
Humata Health is positioned as a pivotal force in the healthcare technology landscape, driving transformation in administrative workflows through automation. Founded by a physician with direct industry experience, the company brings practical, cutting-edge solutions designed to alleviate longstanding pain points in prior authorization processes. With continued investment and strategic growth efforts, Humata Health is poised to influence healthcare delivery frameworks significantly. As more healthcare providers seek efficient solutions amidst evolving regulations, Humata Health’s offerings promise to meet these needs and spearhead the next wave of healthcare innovation.