Nirvana Raises a $24.2M Series A to Bring Price Transparency to the Healthcare Industry
Nirvana is a healthcare technology company that leverages AI to automate insurance eligibility checks and cost share estimates, so nothing gets in the way of reliable care for patients and providers.
Nirvana is a startup founded by Kelvin Chan, Akshay Venkitasubramanian and Urvish Parikh to provide upfront pricing for health care services . They raised $24.2 million in Series A funding, led by Northzone with participation from Inspired Capital, Eniac Ventures, and Surface Ventures. This funding comes amid a broader push for price transparency in health care, following new regulations aimed at making costs clearer for consumers. Nirvana integrates directly into health care providers' websites, using basic patient information to estimate the cost of appointments at the time of booking, significantly reducing the likelihood of insurance denials. By leveraging AI to decode complex insurance policies, Nirvana helps determine coverage specifics, such as whether treatments like weight-loss interventions are covered based on patient data.
Nirvana aims to eliminate surprise medical bills and increase the likelihood of patient return by offering accurate cost estimates, particularly in specialty areas like physical therapy, mental health, and digital health services. The company charges providers, including Modern Health, Headspace, and Hopscotch, for its services, emphasizing its ability to minimize costly insurance rejections. By providing clarity and transparency in healthcare pricing, Nirvana is poised to create a more efficient and patient-friendly experience that benefits both consumers and providers alike.
Read more in Axios Pro.