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What you should know:
– SamaCarea cloud-based patient access platform for specialty medications, today announced that it has closed an oversubscribed $17 million Series B investment round led by a new investor. Questa Capital.
– Questa is joined in the round by existing investors Vive Collective and South Park Commons.
SamaCare Secures New Investment to Improve Patient Access Platform and Streamline Healthcare Processes
SamaCare will use this new investment round to accelerate the development of its unique patient access platform, designed to save healthcare organizations time and resources while ensuring patients receive treatment sooner.
This latest investment follows SamaCare's success in streamlining patient access to treatments, firstly tackling the cumbersome prior authorization process. Prior authorizations, required by many health plans before a patient can use specific medications, are often manual and paper-heavy. Lack of standardized requirements and processes for prior authorizations in commercial plans results in fragmented, inconsistent, and analogue management, leading to processing delays and burdens for providers, patients, health plans, and other parties stakeholders.
With this investment, SamaCare will build the complete Script-to-Therapy™ operating system, enhancing its platform to better serve patients, providers and pharmaceutical companies through:
1. Go beyond prior authorizations to create a seamless, digital post-prescription workflow.
2. Improve collaboration between care teams within and across provider offices.
3. Use AI to reduce administrative time and eliminate tedious paperwork.
4. Develop a data analytics engine for a faster and more efficient journey from script to therapy.
SamaCare enables pharmaceutical manufacturers, providers, payers and other stakeholders to bring life-changing therapies to patients quickly and affordably. The company offers a cloud-based workflow automation platform that streamlines specialty drug pre-authorization, enrollment and benefit verification for physician practices. Additionally, SamaCare provides premium services and data analytics to pharmaceutical brands to improve access to therapy.
“By digitizing the current manual, paper- and fax-intensive process, our platform reduces administrative burdens that undermine patient care, drive providers crazy, and increase system costs,” said Syam Palakurthy, Founder. and CEO of SamaCare. “The support of Questa Capital and our existing investors will help us accelerate the much-needed shift away from a cumbersome system.”