Provider credentialing and licensing play a crucial role in ensuring healthcare quality and safety. However, the process today can be incredibly taxing for providers. Requirements can vary from state to state, the processes are manual and often look different for each insurance plan. Add to this the requirement that each entity (hospitals and insurance plans) independently verify credentials and we have a system with lengthy delays, redundancies, and an administrative burden adding to the total cost of care.
Core to our Health Assurance vision is to create data-driven healthcare designed to help people stay well while bending the cost curve. We believe in the need to develop the category of infrastructure-as-a-service at a time when collaboration, integration, and transparency are even more integral to achieving outcomes. That is why we are pleased to share our Series A investment in CertifyOS, a provider intelligence platform that delivers frictionless, API-first credentialing, licensing, enrollment, and network monitoring for payors, provider groups, health systems and digital health companies.
For providers, CertifyOS reduces costs and saves time by automating critical workflows. For payors, CertifyOS integrates into hundreds of primary sources to provide real-time, automated NCQA-compliant credentialing and ongoing monitoring. Anshul Rathi and the CertifyOS team experienced the cumbersome and antiquated industry processes first-hand, and were inspired to transform the space by creating an efficient, transparent end-to-end solution.
Their NCQA-certified platform cuts processing time from an industry average of 30 days to just 28 minutes using only five core data entry points for any provider type or specialty. These systematic efficiencies create major cost savings: total cost of credentialing drops by 40% for both health payors and systems. Ongoing monitoring provides security and accountability to keep all providers in compliance, and to avoid costly fines.
The CertifyOS team intends to build the infrastructure that powers the next generation of provider data products from enrollment to monitoring to network adequacy and compliance. By building these solutions as core to the infrastructure from the beginning, rather than bolt on additional features as they scale, CertifyOS can deliver a best-in-class solution for providers and payors.
We are thrilled to join CertifyOS on this journey and welcome the company to our Health Assurance network of portfolio companies.