INSUBCONTINENT EXCLUSIVE:
Time is money, as the old adage goes, and this is doubly true in healthcare systems operating with thin margins now made even thinner thanks
to the loss of revenue caused by a freeze on elective procedures.Stepping in with a technology that automates much of the time-consuming
back-end processes hospitals and healthcare providers need to keep up with is Olive, a startup out of Columbus, Ohio.The company, which
counts among its customers more than 500 hospitals representing some of the largest healthcare providers in the United States , has raised a
new round of $51 million as it sees significant growth for its business.The round, raised from investors including Drive Capital, Oak HC/FT
and Ascension Ventures, was led by General Catalyst, which recently closed on $2.3 billion in new capital to invest in early-stage
companies.As a result of the investment, Ron Paulus, the former president and chief executive of Mission Health, will join the board of
management, clinical administration and human resources, the company said in a statement
automate processes, but makes those processes better for hospitals by identifying problem areas that could lead to lost revenues for
The software has access to pre-existing health claim status data, which allows it to identify where mistakes in previous claims were made
