Plenful, a workflow automation platform streamlining pharmacy and healthcare operations, announced today $9 million in funding led by Bessemer Venture Partners and more than 20 enterprise customers across health systems and pharmacies.
Joy Liu, CEO of Plenful, experienced the challenges that are bottlenecking day-to-day administrative workflows firsthand while operating within the four walls of a health system specialty pharmacy company, Shields Health Solutions. Liu saw the need for a flexible solution that could integrate with disparate data sources and easily configure customer-specific rules, all on one platform.
“As a pharmacy operator, I was privileged to work with exceptional pharmacists and technicians and saw the extent of administrative inefficiencies that lead to burnout and healthcare staffing shortages,” said Liu. “Our use of configurable workflow automation and AI maximizes output for operations teams, from supporting revenue growth to eliminating manual work. Plenful’s goal is to free up healthcare staff for top-of-license tasks and empower organizations to do more with less.”
Plenful combines the power of AI-based workflow automations with human oversight. Its customers are using the platform to automate document data entry for onboarding and referral orders, 340B auditing and savings identification, pharmacy revenue cycle, and other use-cases.
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Implementing new technology into healthcare settings comes with IT-related barriers. Plenful has overcome traditional integration challenges through its no-code infrastructure and flexible endpoints. Use-case focused implementations typically take a few weeks to go-live, instead of many months or years to implement. Through working with Plenful, customers have seen up to 97% reductions in manual work and over 50 man-hours per day of otherwise manual work saved.
“Integrating Plenful into our operations team’s workflow has unlocked our care team’s potential by freeing them up to focus on more meaningful aspects of their work,” said Dr. Peter Chang, Vice President of Healthcare Design at Tampa General Hospital (TGH). “Through complementing the systems we already use in our operations and utilizing Plenful’s intuitive automation platform, Plenful has been a seamless adoption process and we are excited about the direct value add of the platform.”
Plenful serves more than 20 enterprise customers including Tampa General Hospital, Renown Health, Medication Management Partners, and others organizations in the healthcare value chain including health systems, long term care pharmacies, specialty pharmacies, compounding pharmacies, manufacturers, and other healthcare organizations.
“I’m thrilled to partner with Plenful, one of the first companies to effectively bring automation and machine learning to pharmacy operations,” said Andrew Hedin, Partner at Bessemer Venture Partners. “Over the last few years, we’ve witnessed that every part of the healthcare system is facing clinician and staff burnout with a negative impact on patient care. Plenful is addressing existing labor shortages for a significant and growing part of healthcare – enabling pharmacy operations teams to do more meaningful work.”
SOURCE: Businesswire