#USA #New York #healthcare #Automation #CORAL

Coral Achieves a Milestone in Healthcare Automation

In a remarkable announcement, Coral, a pioneering process automation platform for US healthcare providers, has reported an extraordinary growth in its operations. The company has achieved the milestone of processing over 500,000 patient workflows per month, marking a dramatic transformational shift in how healthcare institutions streamline patient care. With revenues climbing more than eightfold during the past seven months, Coral is on the path to redefining operational practices within the healthcare industry.

One of the pressing challenges facing healthcare providers today is the enormous amount of manual labor price tag associated with patient processing, which amounts to approximately $450 billion annually. This situation often leads to inordinate delays in patient treatment and increased costs as healthcare professionals grapple with cumbersome manual processes, relying on faxes, time-consuming phone calls to coordinate insurance matters, and lengthy forms to gather patient information. The negative consequences of these outdated practices manifest in reduced reimbursements, diminishing patient satisfaction, and delays in urgent care delivery, all of which hinder the healthcare providers' ability to serve their communities effectively.

Unlike traditional automation solutions that require comprehensive changes to existing infrastructure, Coral seamlessly integrates into current workflows, allowing healthcare providers to derive immediate value from the platform without the burden of disruptive alterations. By utilizing advanced AI-driven workflows, Coral automates all aspects of the care delivery process—from patient intake and prior authorization to billing and clinical qualification evaluations—effectively diminishing the manual workload on staff and freeing them to focus their efforts on patient care.

Having already tackled the patient intake process, Coral is committed to addressing the next significant hurdle: prior authorization. A significant bottleneck in timely patient care, physicians frequently face upwards of 40 prior authorization requests each week. The traditional processes can often extend into weeks, causing delays for patients who urgently require treatment. The automation capabilities offered by Coral directly resolve this issue, drastically reducing processing times from a few weeks down to mere minutes.

By alleviating these administrative burdens, Coral not only expedites patient access to vital care but also reduces overhead costs for healthcare facilities. Ajay Shrihari, co-founder of Coral, emphasized this innovative approach by noting, "Legacy automation vendors have grappled with the unique challenges of healthcare by attempting to entirely reconstruct systems from scratch. Our strategy embraces the intricacies of the existing healthcare landscape and focuses on automating within the framework of currently established processes. This allows for generating value from day one without necessitating a complete overhaul of existing infrastructures."

Healthcare thought leaders recognize the tremendous potential of Coral’s platform as it integrates seamlessly inside traditional workflows. For example, Michael Gorman, President of DASCO Home Medical Equipment, noted that their collaboration with Coral has addressed the historically cumbersome manual intake process in durable medical equipment by vastly improving speed and accuracy. This partnership has resulted in diminishing fulfillment times from days to mere minutes, ensuring timely care for patients.

Founded in 2024 by Ajay Shrihari and Aniket Mohanty, who were propelled to innovate due to inadequate healthcare practices, Coral is rapidly changing the landscape of medical administrative processes. Following a successful seed funding round earlier this year led by Lightspeed, Coral has garnered the attention of major strategic healthcare and technology investors—including leaders from OpenAI and Zapier.

Rohil Bagga, a Lightspeed investor, expressed confidence in Coral's disruptive capabilities, stating, "We seek companies that not only develop products but fundamentally change industries. Coral is achieving this in the healthcare sector by reimagining automation within the most critical workflows, accordingly creating new efficiencies for providers and setting the stage for enhanced patient care standards."

To sustain this momentum, Coral welcomed Ashish Singh, a Senior Partner at Bain & Company, as a strategic advisor. Singh remarked, "Coral AI is on the verge of transforming healthcare by tackling essential yet overlooked challenges in care delivery. This automation of complex workflows within established systems proves that healthcare innovation doesn’t have to lead to disruption."

In short, Coral is proving to be a key player in the evolution of healthcare operational efficiency, reshaping the industry’s approach to patient care delivery through intelligent automation and a fresh perspective on existing workflows. Their ongoing commitment to enhancing healthcare systems reflects a vision that prioritizes efficiency, accuracy, and ultimately, better patient outcomes.