Machinify provides AI-driven solutions to improve decision-making in the healthcare industry. Its platform helps health plans, payers, and providers optimize their operations, particularly in areas like claims processing and utilization management. The applications hosted on Machinify's AI server can be quickly deployed, allowing clients to see immediate returns on investment. This focus on rapid deployment sets Machinify apart from competitors, as healthcare organizations increasingly need to enhance efficiency in a challenging financial environment. The company's goal is to help clients regain control over healthcare expenditures and navigate the complexities of the healthcare system effectively.

Matrix Partners

Battery Ventures

AI & Machine Learning

Healthcare

Machinify

Machinify has introduced a suite of three artificial intelligence (AI) apps designed to address the entire healthcare claims lifecycle. Together, the apps cover everything from prior authorization through final payments, the AI-powered, healthcare administration-focused company said in a Monday (March 4) press release. “There is an enormous opportunity to leverage AI to change the economics of healthcare,” Prasanna Ganesan, founder and CEO of Machinify, said in the release. “Machinify is leading the way, bringing together purpose-built AI, enterprise-scale software and deep domain expertise into one connected offering.”

Machinify Introduces Ai-Powered Apps For Managing Healthcare Claims

Machinify has introduced a suite of three artificial intelligence (AI) apps designed to address the entire healthcare claims lifecycle.

Machinify Introduces AI-Powered Apps for Managing Healthcare Claims

PALO ALTO, Calif.--(BUSINESS WIRE)--Machinify, the company transforming healthcare administration with artificial intelligence (AI), today announced a comprehensive suite of apps designed to address the entire healthcare claims lifecycle, from prior authorization through final payment. Machinify applications are currently in production with four of the top 10 U.S.-based insurance payers.Machinify's new app suite, consisting of Machinify Auth, Machinify Audit, and Machinify Pay, debuts at a time when healthcare costs have spiraled out of control. The U.S. has one of the most expensive health systems in the world, where health insurers pay out nearly $4.5 trillion in reimbursements, equating to $13,400 per person. Of this, it is estimated almost $1 trillion is considered wasteful spending, with approximately $500 billion attributed to administrative complexity and pricing failures. Machinify’s software reduces cost and waste while providing patients with more timely access to the care they need.This new application release comes as Machinify bolsters its go-to-market strategy, having recently announced the appointment of a new Executive Vice President of Sales, Vikas Aligh

Machinify Debuts Healthcare Industry’S Most Comprehensive Application Suite, Powered By The Combination Of Ai And Deep Clinical Expertise, To Save Billions In Administrative Costs

New Mountain Capital has agreed to acquire Machinify, a Palo Alto, California-based provider of artificial intelligence-powered software focused on healthcare payments.

New Mountain Capital to acquire healthcare tech firm Machinify

Prasanna Ganesan, CEO, MachinifyWhether you work in healthcare or are just a patient who has interacted with the healthcare system, it shouldn’t surprise you to read that healthcare costs have been going up and are expected to continue to do so into 2025 burdening all stakeholders. Despite the obvious need to cut wasted healthcare spending, research suggests that the industry as a whole isn’t very good at it, with administrative spending being one of the biggest culprits. One study found that nearly one-third of excess U.S. healthcare spending is on administrative expenses. Today, the backbone of healthcare administration is claims processing. Despite the structure of a claim being standardized, the processing path that each claim follows is antiquated, with many inefficient, expensive, or error-prone steps being embedded within. The question is why? First, the rules around medical coding, billing, and payment can be intricate and ambiguous, resulting in varied interpretations and decisions from one claim to another, undermining consistency in the reimbursement process. Second, claims adjudication processes rely on an arcane mix of inflexible old technology and a lot of duct tape resulting in an inability to keep pace with the evolving needs of modern healthcare reimbursement

Payment Integrity In Healthcare: Challenges And Solutions

– Evolent Health, Inc. (NYSE: EVH), a leader in improving health outcomes for patients with complex conditions, announced today an agreement to acquire key assets from Machinify, including the exclusive license to their AI-powered platform, Machinify Auth.– Additionally, certain Machinify employees will join Evolent. Both companies plan to establish a long-term services agreement to ensure smooth integration and ongoing platform development. This innovative technology aims to revolutionize Evolent’s specialty condition management platform by leveraging advanced machine learning and data analytics.Transforming Specialty Condition Management with AI:Machinify Auth utilizes cutting-edge artificial intelligence to streamline clinical workflows and enhance the quality and efficiency of clinical reviews for various specialty conditions. Evolent plans to integrate Machinify’s team, software applications, and AI capabilities into its industry-leading platform. This acquisition is expected to benefit health plans, clinicians, and members alike.This powerful combination will be integrated into Evolent’s platform to automate clinical workflows, leading to:Increased Efficiency: Evolent believes the integration of scalable AI will significantly improve efficiency by automating tasks and reducing manual data collection and analysis

Evolent Acquires Machinify’S Ai-Driven Medical Authorization Solution

Machinify solution seeks to accelerate the efficiency, quality, and clinical value of Evolent's specialty condition management platform through AI-enabled clinical workflow automationMachinify technology leverages the latest advances in applied machine learning, large language models and data analyticsAcquisition expected to benefit health plans, clinicians, and membersWASHINGTON, June 4, 2024 /PRNewswire/ -- Evolent Health, Inc. ("Evolent" or "the Company"), (NYSE: EVH) a company focused on achieving better health outcomes for people with complex conditions, today announced it has entered into an agreement to acquire certain assets of Machinify and the exclusive, perpetual and royalty-free license of Machinify Auth, a proven software platform that leverages the latest advances in artificial intelligence to increase the clinical quality, speed and consistency of the clinical reviews for all specialty conditions. Evolent plans to integrate the Machinify Auth team, software applications and AI capabilities into its leading platform. Evolent and Machinify will also enter into a multi-year services agreement to support the success of the acquisition. Evolent believes the acquisition will add significant value for Machinify and Evolent's health plans, providers and members. The acquisition is subject to customary closing conditions.Evolent believes the addition of scalable AI technology will enable the Company to leapfrog standard industry processes by increasing the number of first-pass approvals as well as streamlining manual data collection and analysis associated with complex medical decision making

Evolent Signs Agreement To Acquire Artificial Intelligence Utilization Management Products And Team From Machinify

Machinify introduces AI apps for healthcare claims management.

Machinify introduces AI apps for healthcare claims management

AI-driven solutions for healthcare administration

Machinify

AI-driven solutions for healthcare administration

Machinify

AI-driven solutions for healthcare administration

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