We’re excited to announce that HANK has closed its latest $2.5M funding round, led by three healthcare revenue cycle strategic investors. This funding will help us expand and grow our healthcare automation and augmentation technology.
Our proprietary computer vision technology, DocuVision™, continues to gain traction with its industry-leading capacity to automatically process unstructured data from almost any source. With the added funding, we’ll be able to roll out new features like AutoCoder conversational technology, which will simplify coding at the time of service without disrupting productivity or requiring coding knowledge. This new feature will help reduce the $15b spent annually on medical coding.
We’re not only revolutionizing the healthcare industry, but we’re also evaluating non-medical opportunities to utilize our DocuVision™ technology. The use cases are endless, given that DocuVision™ turns human-readable documents into machine-readable formats. Meaning almost any document-driven process can benefit from our DocuVision™ technology.
We’ve already begun working with SAP Concur using DocuVision™ to process inbound purchase orders. With DocuVision™, it’s easy to integrate disparate software systems to handle purchase orders, lien waivers, invoices, bills of ladings, or almost any other document-driven process. And the best part, DocuVision™ is simple to integrate and cost-effective as a subscription rather than a costly integration with expensive support and maintenance.
At HANK, we’re committed to providing productivity and accuracy gains while helping fund our mission to fix healthcare using AI. With this latest round of funding, HANK is positioned to become the leader in applied healthcare AI. Our innovative technology and talented team make us a company to watch in the coming years.