Investors have bet almost $2.5B that these companies can effectively reduce waste, lower costs, and improve patient outcomes.
Healthcare providers are looking to cut costs.
Hospitals, for example, have a lot of room for savings — roughly 25% of American hospitals’ budgets go towards administrative expenses, compared to ~12% in Canada and Scotland, according to a Health Affairs study.
To lower their spend, healthcare companies are increasingly working with startups that help them automate scheduling, submit claims, coordinate care, and manage billing processes.
We used CB Insights data to identify 20 well-funded startups helping to reduce waste and save time in healthcare settings across 8 categories, including consumer payment solutions, care coordination, revenue cycle management, and more.