Olive, a healthcare AI company valued at $4 billion with implementations in over 900 hospitals, is closing. It sold various units to Waystar, Humata Health, Availity, and BurstIQ, following over $900 million in funding since 2012. Its technology focuses on automating healthcare’s revenue and claims cycle. The sale includes Olive’s Clearinghouse, Patient Access, Prior Authorization, utilization management, and business intelligence solutions. Olive’s shutdown marks the end of its AI-driven automation services across numerous U.S. health systems.
Healthcare automation company Olive today announced it will shut down its business after selling its Clearinghouse and Patient Access business units to Waystar and its Prior Authorization business unit to Humata Health. Olive sold off its utilization management solution and business unit to Availity and its business intelligence solution to BurstIQ earlier this year.
Founded in 2012, Olive is a developer of an artificial intelligence workforce, automated revenue cycle, and claims management for the healthcare industry. The company secured over $900M in funding reaching a $4B valuation. Olive’s enterprise AI has been implemented at more than 900 hospitals across 40 U.S. states, including more than 20 of the top 100 U.S. health systems.
Source: Hitconsultant
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