As businesses look toward recovery from the Covid-19 pandemic, Deloitte explores the future of work, how health care is poised to transform, connectivity, responsible business practices, and the strength of diversity. From finding automations for max ROI, to building, supporting and optimizing your AI workforce performance, Olive does it all. Olive, a startup based in Columbus, Ohio, has secured $32.8 million in a Series D round led by Oak HC/FT and Ascension Ventures with participation from existing investors. Sean has 8 jobs listed on their profile. Time it takes for Olive to complete one claim status check. Learn how Olive can be your AI workforce, helping save your organization time and money. I am excited to be working closely with Olive's management team to maximize the outsized positive impact we can have in healthcare on both the administrative and clinical fronts.”. Olive rolled out a new AI-powered platform that streamlines revenue cycle management. “The time is now and this investment enables us to accelerate our vision of the internet of healthcare - where when one Olive learns, all Olives learn. Olive is the only healthcare-specific artificial intelligence and process automation solution sold as a service – that means one simple subscription price and an all-in-one approach to optimized healthcare workflows and improved revenue. Driving efficiency in non-clinical work enables hospitals and healthcare leaders to focus more resources on the actions and activities that improve care. And since health execs aren't cutting back on financial digitization spending, we expect to see more hospitals invest in AI tools like Olive's. Olive is deploying the AI workforce built specifically for healthcare, delivering hospitals and health systems increased revenue, reduced costs and increased capacity. For context, Olive's other AI-enabled "digital employee" solution is currently being deployed by over 600 US hospitals to automate processes in departments like human resources, finance, and the supply chain. 2.15.1 Business Overview; 2.15.2 AI Medicine Software Type and Applications. All rights reserved. It is also geared toward companies that view AI and automation as key to their overall operations. Immediately, I recognized how Olive would be very useful for the members of my team who simply do nothing but check claim statuses. AI startup Olive raises $32.8M for robotic process automation The company's tool is meant to automate high-volume and repetitive tasks so that a … Olive gives power back to providers through her ever-growing, unparalleled intelligence made up of shared memories, collective wisdom and global awareness, learning like a network so hospitals never have to solve the same problem twice. Drive Capital's founding partners, Mark Kvamme and Chris Olsen, are experienced venture capitalists, and have participated in several venture capital firms prior to founding Drive Capital. You can change your choices at any time by visiting Your Privacy Controls. Here's how you can gain access: Are you a current Insider Intelligence client? Now, as folks retire or move on to other opportunities, we ask, “Can Olive do this instead? For more information visit www.ascensionventures.org. For one, incorrect documentation or coding can create extra back-and-forth communication between payers and providers about medical claims, contributing to the $200 billion in administrative waste the US healthcare system currently spends on RCM. COLUMBUS, Ohio, March 31, 2020 (GLOBE NEWSWIRE) -- Olive, the company creating the AI workforce for healthcare, today announced the close of its $51 million funding round led by General Catalyst. The company will use the funds to further scale its artificial intelligence solution, Olive, which assists with process automation for healthcare. The Olive technology gets its own usernames and passwords for the systems a healthcare organization has in place. AI in Healthcare 2.14.3 Olive AI Medicine Software Revenue, Gross Margin and Market Share (2017-2018) 2.15 Ada Health. Olivia. Arundhati Parmar  |  10:58 pm, November 22. Olive automates repetitive, high-volume tasks and workflows, monitoring their performance, identifying improvements and finding opportunities for new work. Still legally named CrossChx Inc., the company rebranded as Olive three years ago . Olive's new AI-powered platform streamlines revenue cycle management. We’re a patient-first organization; everything we do has to improve patient experience. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. COVID-19 pandemic has underscored the need for a healthcare system that can help patients easily navigate healthcare concerns as well as price transparency. Olive’s software toolkit automates administrative tasks like revenue cycle, supply chain management, clinical administration and human resources, … Source: thinkstock Sponsored by Olive. Account active Subscriber The funding will enable Olive to accelerate its growth and further its mission of automating healthcare’s administrative processes so hospital employees can focus on delivering high-quality, cost-effective care. “Olive’s cutting-edge process mining and automation technologies are enabling our firm’s health system partners to continually optimize clinical and administrative operations so caregivers can spend more of their time on patient care,” said John Kuelper, investment director at Ascension Ventures, according to a news release. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Get the latest industry news first when you subscribe to our daily newsletter. Or he could’ve purchased expensive software to help reduce the burden, but costly implementation and the impact of maintenance and fixing potential problems down the road made the ROI unclear. Your AI-powered community savings platform that helps you spend smarter and save more so you can focus on the things in life that really matter. For more: www.generalcatalyst.com. Drive Capital's investments will be focused on the Heartland that stretches from Pittsburgh to Kansas City to Minneapolis and back. Media Contact:Rachel Forsytholiveai@finnpartners.com. Sign up for Chart of the Day. Join 14,000+ other healthcare executives and subscribe to our newsletter – you’ll receive the latest Olive news and trending stories about healthcare AI and automation. And hospitals strapped for resources—such as staff and budget—can't always dedicate the same amount of time to every patient account to ensure there hasn't been an oversight or inaccuracy. Value-Based Care That means less robotic tasks for healthcare employees, reduced staff turnover, improved revenue recognition and better patient care. Remote Patient Monitoring. Any changes from United States might af    Identify the right AI technology use cases. He could’ve hired more people to take on the never-ending influx of time-consuming, repetitive workflows that are bogging down his employees – from claim status checks to prior authorizations and more. With offices in San Francisco, Palo Alto, New York City, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Canva, Gitlab, Gusto, Hubspot, Kayak, Monzo, Samsara, Snap, Stripe, and Warby Parker. 2.15.2.1 Product A ; 2.15.2.2 Product B; 2.15.3 Ada Health AI Medicine Software Revenue, Gross Margin and Market Share (2017-2018) 3 Global AI Medicine Software Market Competition, by Players. Can Olive do the work we were paying a resource to do or do we need to hire for this position?” It’s a new way of thinking at my organization and it’s driving down the cost to collect. Olive is deploying the AI workforce built specifically for healthcare, delivering hospitals and health systems increased revenue, reduced costs, and increased capacity. These health system limited partners collectively operate more than 460 hospitals, have 572,000 employees and generate $96 billion in annual revenue. Olive automates repetitive, high-volume tasks and workflows, monitoring their performance, identifying improvements and finding opportunities for new work.