#United States #healthcare #Mountain View #Honey Health #AI Back Office

Honey Health Secures $7.8 Million to Tackle Healthcare's Administrative Challenges

Healthcare organizations are grappling with significant operational hurdles, primarily stemming from administrative overload and a high turnover rate of staff. Amid these challenges, Honey Health—an innovative All-in-One AI Back Office platform—has managed to raise $7.8 million in a seed funding round led by Pelion Ventures, with contributions from 8-Bit Capital, Streamlined, and Burst Capital.

Founded in December, Honey Health is already making strides, partnering with over 100 healthcare organizations and reportedly saving these entities millions in administrative costs. The innovative solution introduced by Honey Health employs secure AI agent teams that address complex administrative tasks directly within Electronic Health Records (EHR), thereby automating workflows that burden most healthcare settings, both in primary care and specialized services.

The Pressing Need for Change in Healthcare Administration

Healthcare providers are facing unprecedented operational strain, as non-clinical staff turnover rates soar between 33% and 40% annually. Traditional solutions to these administrative issues typically address only a portion of the problem, often requiring constant oversight and failing to integrate effectively into existing structures. As a result, this leads to increased burden on care teams and diminished margins for the organizations involved.

Honey Health aims to change the narrative by providing fully autonomous AI agents that operate in the background of healthcare systems, alleviating the need for human intervention. By doing this, healthcare organizations can streamline their processes significantly.

Matt Faustman, the Co-Founder and CEO of Honey Health, articulated the company’s vision: “Healthcare organizations are stuck between two broken models—point solutions that only solve narrow tasks or a constant struggle to hire and retain back-office staff. Honey flips that script. We let organizations deploy full AI agent teams that work autonomously in the background.” This enables healthcare providers to streamline their administrative processes, ultimately allowing them to deliver better care with fewer human resources.

Key Features of Honey's AI Back Office

The platform offers a variety of capabilities that automate tedious but essential administrative tasks, including:

• - Data Fetching: Pulling in data from various external sources, such as laboratories and medical devices.
• - Note Preparation: Compiling visit-ready patient notes and charts for clinicians.
• - Order Management: Facilitating post-visit orders and medication refills around the clock.
• - Fax Management: Sorting, routing, and filing faxes while extracting important details for reference.
• - Authorization Handling: Managing the full process of prior authorizations efficiently.

Honey Health’s proprietary Loop framework and Hive protocol enhance the onboarding experience for AI agents to integrate seamlessly into most EHRs. They quickly learn individual organizational workflows and can handle entire administrative jobs that typically demand multiple point solutions.

Customers using Honey’s platform have reported substantial annual profit gains, ranging between $50,000 and $66,000 per provider, primarily due to reduced reliance on offshore labor and fewer backfill requirements in high-turnover roles.

Customer Testimonials

Dr. Kashif Latif from AM Endocrinology, one of the largest endocrinology practices in the Southeast, shared his enthusiastic feedback about Honey Health: “Using Honey Health is like magic—our back-office work just gets done inside our EHR as if a staff member had completed it.”

A Visionary Background

The inception of Honey Health is credited to Matt Faustman and Xiao Zhang, both of whom have previously worked in AI and product development at LinkedIn. Their shared experiences with chronic health issues and delays caused by administrative inefficiencies sparked their determination to create a solution that resolves these critical challenges in healthcare.

Tyler Hogge, a partner at Pelion Ventures, praised Honey Health, stating, “Healthcare providers are desperate to find ways to automate their back office, and Honey Health is by far the best product to do it.”

Looking Forward

The recently acquired funding will allow Honey Health to expand and enhance its platform with additional features, enabling its rapidly growing customer base to automate more of their back-office processes effectively.

Healthcare organizations seeking to reduce administrative burdens and enhance profit margins are encouraged to explore the offerings of Honey Health by visiting www.honeyhealth.ai.

Honey Health is poised to redefine the future of healthcare administration, demonstrating that technology, coupled with innovative thinking, can deliver impactful solutions to pervasive challenges in the workforce and patient care.