Revolutionizing Patient Access: SamaCare's $17 Million Investment to Transform Healthcare Processes
May 22, 2024, 3:31 am
Location: United States, California, Redding
Employees: 11-50
Founded date: 2018
Total raised: $41M
SamaCare, a groundbreaking cloud-based patient access platform specializing in specialty medications, has recently announced the successful closure of an oversubscribed $17 million Series B investment round. Led by new investor Questa Capital, this funding round also saw the participation of existing investors Vive Collective and South Park Commons.
The primary objective behind this substantial investment is to propel the development of SamaCare's innovative one-stop patient access platform. This platform is meticulously designed to streamline healthcare processes, save valuable time and resources for healthcare organizations, and ensure that patients receive essential therapy in a timely manner.
SamaCare's journey towards enhancing patient access began with a focus on simplifying the cumbersome prior authorization process. Prior authorizations, mandated by numerous health plans before patients can access specific medications, often involve manual and paper-heavy procedures. The lack of standardized requirements and processes across commercial plans leads to fragmented, inconsistent, and analog management, resulting in treatment delays and added burdens for providers, patients, health plans, and other stakeholders.
With the infusion of this new investment, SamaCare is poised to revolutionize the healthcare landscape by expanding its services beyond prior authorizations. The company aims to create a seamless, digital post-prescription workflow that will significantly improve collaboration among healthcare teams within and between provider offices. Leveraging the power of artificial intelligence (AI), SamaCare intends to reduce administrative delays, eliminate tedious paperwork, and develop a robust data insights engine to facilitate a faster and more effective Script-to-Therapy journey.
SamaCare's platform empowers pharmaceutical manufacturers, providers, payors, and other stakeholders to deliver life-changing therapies to patients in a swift and cost-effective manner. Through its cloud-based workflow automation platform, SamaCare streamlines specialty drug prior authorization, enrollment, and benefit verification for medical practices. Additionally, the company offers premium services and data analytics for pharmaceutical brands to enhance access to therapy and improve patient outcomes.
Syam Palakurthy, the visionary founder and CEO of SamaCare, emphasized the transformative impact of digitizing the current manual, paper-and-fax-heavy processes. By reducing administrative burdens that impede patient care, frustrate healthcare providers, and escalate costs within the system, SamaCare is driving much-needed change in the healthcare industry.
With the unwavering support of Questa Capital and its existing investors, SamaCare is well-positioned to accelerate its mission of simplifying the process of getting patients on the right treatment. By eliminating administrative and financial obstacles that hinder patient care, SamaCare is spearheading a revolution in patient access and healthcare efficiency.
The primary objective behind this substantial investment is to propel the development of SamaCare's innovative one-stop patient access platform. This platform is meticulously designed to streamline healthcare processes, save valuable time and resources for healthcare organizations, and ensure that patients receive essential therapy in a timely manner.
SamaCare's journey towards enhancing patient access began with a focus on simplifying the cumbersome prior authorization process. Prior authorizations, mandated by numerous health plans before patients can access specific medications, often involve manual and paper-heavy procedures. The lack of standardized requirements and processes across commercial plans leads to fragmented, inconsistent, and analog management, resulting in treatment delays and added burdens for providers, patients, health plans, and other stakeholders.
With the infusion of this new investment, SamaCare is poised to revolutionize the healthcare landscape by expanding its services beyond prior authorizations. The company aims to create a seamless, digital post-prescription workflow that will significantly improve collaboration among healthcare teams within and between provider offices. Leveraging the power of artificial intelligence (AI), SamaCare intends to reduce administrative delays, eliminate tedious paperwork, and develop a robust data insights engine to facilitate a faster and more effective Script-to-Therapy journey.
SamaCare's platform empowers pharmaceutical manufacturers, providers, payors, and other stakeholders to deliver life-changing therapies to patients in a swift and cost-effective manner. Through its cloud-based workflow automation platform, SamaCare streamlines specialty drug prior authorization, enrollment, and benefit verification for medical practices. Additionally, the company offers premium services and data analytics for pharmaceutical brands to enhance access to therapy and improve patient outcomes.
Syam Palakurthy, the visionary founder and CEO of SamaCare, emphasized the transformative impact of digitizing the current manual, paper-and-fax-heavy processes. By reducing administrative burdens that impede patient care, frustrate healthcare providers, and escalate costs within the system, SamaCare is driving much-needed change in the healthcare industry.
With the unwavering support of Questa Capital and its existing investors, SamaCare is well-positioned to accelerate its mission of simplifying the process of getting patients on the right treatment. By eliminating administrative and financial obstacles that hinder patient care, SamaCare is spearheading a revolution in patient access and healthcare efficiency.