Post by Y Combinator

Latent has raised $80M in Series A funding to automate the prior authorization process in healthcare, which often delays patients from getting treatment. Prior authorization requires doctors and pharmacists to review patient records, answer insurer questions, and submit detailed documentation to get approval for treatments. Physicians spend an average of 13 hours per week on this process, which can delay care. Founded in 2022 by Sriram Somasundaram and Rishabh Jain, Latent Health is building an AI system that reads medical data like doctors’ notes, lab results, and imaging, and helps answer insurer questions, compile documentation, and submit requests. Its agents can also follow up with insurers to check the status of requests. The company has over $20M in annualized revenue and is used by doctors, pharmacists, and nurses across more than 45 health systems, including Yale New Haven Health, UCSF, Mount Sinai, and Vanderbilt. Latent focuses on specialty drugs, which require more complex approvals and are a growing part of healthcare spending. The company’s software is designed to assist providers, with a human reviewing requests before submission. Latent plans to use the funding to expand its product and continue automating healthcare workflows. Congrats to the team on the Series A! https://lnkd.in/gRaCYAB8