Healthcare technology start-up Tennr has raised $18 million in funding to support its pioneering artificial intelligence tools that aim to streamline the referral process between primary care providers and specialist care providers. This funding round, led by Andreesen Horowitz, Foundation Capital, and The New Normal Fund, brings the total amount raised by Tennr to over $25 million. Tennr’s AI tools are designed to extract relevant information from referrals and automate the process of setting up appointments, resolving insurance issues, and improving overall efficiency within the healthcare sector.
Co-founded in New York in 2021 by Trey Holternam, Diego Baugh, and Tyler Johnson, Tennr was inspired by the founders’ personal experiences with the challenges of navigating the healthcare system. The company’s technology aims to address the administrative failures and delays that often lead to a third of referrals not being followed up on in the US healthcare system. By automating much of the referral process, Tennr hopes to ensure that patients receive the care they need in a timely manner and that healthcare providers can focus on delivering quality care.
Tennr’s target market includes specialist care providers in various disciplines, such as gastroenterology and surgery, who receive referrals from primary care providers through a variety of channels. The company’s technology is able to standardize and streamline the referral process, allowing healthcare providers to focus on patient care while also improving operational efficiency. Tennr charges a basic fee for access to its platform, with additional charges for each document processed, and has already signed up over 50 customers with plans to double its customer base by the middle of the year.
Early customers of Tennr have reported improvements in patient care and increased efficiency in their practices. Rommy Foteh, the chief operations officer at NMA, a national specialty practice, highlighted the benefits of being able to respond quickly to partners and ensure a seamless patient experience. Additionally, health plan providers, such as Prominence Health, have recognized the potential for Tennr’s technology to enhance patient experiences, improve health outcomes, and streamline care coordination by eliminating traditional administrative burdens.
Investors in Tennr see the company’s AI applications as offering significant growth potential within the healthcare sector. Kristina Shen, general partner at Andreessen Horowitz, praised Tennr’s focus on solving specific, tangible problems for their customers. The company’s success in leveraging AI technology to address the challenges of referral management has positioned them as a leader in the healthcare technology space and has attracted substantial investment from major firms.
Overall, Tennr’s innovative approach to healthcare technology has the potential to revolutionize the referral process, improve patient care, and enhance operational efficiency within the healthcare sector. By automating much of the administrative work associated with referrals, Tennr aims to ensure that patients receive timely access to specialist care while freeing up healthcare providers to focus on delivering quality care. With continued support from investors and a growing customer base, Tennr is well-positioned to drive significant advancements in healthcare technology and make a lasting impact on the industry.
