Thursday, July 18, 2024

SamaCare garners $17M for its specialty medication workflow platform -Dlight News

SamaCare, a workflow platform for providers offering specialty medication, announced it secured $17 million in an oversubscribed Series B investment round.

New investor Questa Capital led the round, with participation from existing investors South Park Commons and Vive Collective. 

WHAT IT DOES

The California-based company provides a cloud-based workflow automation platform to help providers obtain prior authorization for specialty drug medications, check enrollment, and verify benefits. It also works with pharmaceutical companies to provide data analytics to help improve access to their therapies. 

The company will use the funds to expand its Script-to-Therapy Operating System, which will leverage AI for administrative tasks, create a post-prescription workflow, collect data insights and enhance collaboration between providers’ offices. 

“SamaCare plans to invest the funds to build the comprehensive Script-to-Therapy Operating System, enhancing our specialty prior auth platform’s capabilities for patients, providers, and pharmaceutical companies,” Syam Palakurthy, founder and CEO of SamaCare, told MobiHealthNews in an email.

“This means building into our platform more collaboration features, AI-based guidance, and data insights that collectively enable our customers to ensure that patients overcome administrative and financial obstacles to start on treatment.”

MARKET SNAPSHOT

SamaCare closed a $12 million Series A round in 2022. 

Other companies offering workflow automation platforms include Cerner, which was acquired by enterprise software giant Oracle in 2021 for $28.3 billion, and Epic, which offers clinical and administrative workflow tools.

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