Plenful, a New York-based startup focused on automating pharmacy and healthcare operations with AI, has raised $10 million in funding from investors including Bessemer Venture Partners and Waterline Ventures. The company plans to use the capital to expand its platform and applications across the healthcare industry, allowing organizations to streamline administrative tasks and free up care teams to focus on patient care.
The healthcare industry is currently facing worker shortages and high demand, which has led to burnout among healthcare professionals. According to KPMG, there could be a shortage of 18 million healthcare workers by 2030. Plenful aims to address these labor shortages by improving worker retention and recruiting through automation.
Many healthcare teams are burdened with routine administrative tasks such as data entry, patient intake, and compliance management. These tasks take up valuable time that could be better spent on directly assisting patients. Plenful’s platform aims to automate these tasks using AI, allowing care teams to focus on higher-priority and more meaningful work.
Plenful’s platform can handle both unstructured data, such as faxes and PDFs, and structured data from electronic health records and pharmacy management software. Through AI-driven automation, the platform can automate tasks such as document data entry, referral management, auditing for drug procurement programs, and revenue optimization. By streamlining these tasks, Plenful aims to drive efficiencies across healthcare operations and ease workloads.
Since its launch in 2021, Plenful has gained over 20 customers, including health systems, pharmacies, and other healthcare organizations. One of its customers, Tampa General Hospital, praised Plenful’s seamless adoption process and its ability to integrate with existing systems, which has helped unlock their care team’s potential.
While there are other players in the healthcare workflow automation space, Plenful believes it has a distinct advantage due to its specialized focus on pharmacy operations and its highly configurable no-code platform. The company plans to use the funding to expand its team and market presence, onboard technologists and healthcare operators, and scale its customer base.
In conclusion, Plenful’s $10 million funding will support its mission to automate healthcare operations and alleviate worker shortages in the industry. By harnessing the power of AI, the company aims to streamline administrative tasks, allowing care teams to focus on providing quality patient care.
