Health Insurance :$24.2 Million to Extend Now
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In order to expand its platform that offers insurance verification and cost estimates to healthcare providers and their patients, Nirvana has raised $24.2 million in a Series A fundraising round.
According to a news release released by the firm on Thursday, September 12, the platform uses artificial intelligence to deliver this information, saving time and money for physicians and easing patients’ concerns about unexpected expenditures.
According to the statement, Nirvana developed its platform for the behavioral health industry but is aiming to extend it into physical therapy, intense outpatient care, and general care.
According to the press release, Nirvana CEO Akshaya
Venkata Subramanian stated, “With this new funding, we’re poised to supercharge our expansion into more specialties, helping more providers streamline their operations and offer patients the cost transparency they deserve.”
“We’re developing the eligibility management platform that will revolutionize the healthcare sector’s payment processes.”
According to the statement, insurance eligibility issues frequently result in financial hardships for providers as well as individuals.
According to the announcement, Nirvana’s platform streamlines the procedure by obtaining all of the qualifying details for a patient’s insurance policies with just their name, date of birth, and ZIP code.
According to the release, the solution can be accessed through the company’s One.
Verify web or mobile application, an electronic health record (EHR) or electronic medical record (EMR) integration, or a direct application programming interface (API) integration.
According to the press statement, Wendy Xiao, a partner at Northzone, which spearheaded Nirvana’s most recent fundraising round, the company’s technology solves a significant issue in healthcare management.
“Their AI-powered solution enhances the patient experience through greater transparency and improves operational efficiency for providers,” Xiao stated.
“We are thrilled to support Nirvana in their mission to transform healthcare administration, and we think the company has the potential to become a category-defining player in the space.”
The PYMNTS Intelligence and Lynx collaboration, “The Digital Platform Promise: How Patients Want to Streamline Healthcare Payments,” found that some of the issues that consumers said they frequently encounter around healthcare payments are being resolved by digital innovations.
Examples of these issues include understanding insurance coverages and paying deductibles.
For instance, 64% of patients who used a digital portal to view their insurance payments and medical bills said they were very happy with the service.
According to the press release, the measure seeks to address the negative effects of sports betting on public health and develop a “safer, less addictive product.”
According to an information sheet provided by Tonka’s office on Friday, the SAFE Bet Act would forbid the use of artificial intelligence to design gambling products and to offer personalized bonuses based on a player’s gambling behaviors.
The fact sheet stated that it would also prioritize affordability by capping the total amount of deposits that operators could receive from clients in a day, mandating that operators perform “affordability checks” on clients prior to taking bets that exceed specific thresholds, and outlawing the use of credit cards for deposits.
According to the fact sheet, the SAFE Bet Act would prohibit sportsbook advertising during live sporting events and certain programs meant to encourage gambling.
According to Tonka’s statement in the press release, the proliferation of betting alternatives has led to an increase in gambling problems.
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