#United States #Scottsdale #In Revenue Capital #Helia Care #Habanero Ventures

Helia Care's Growth Journey

The healthcare landscape is rapidly evolving, and one innovative company, Helia Care, is leading the charge with its cutting-edge AI-enabled procurement platform. In a recent funding round led by In Revenue Capital and Habanero Ventures, Helia secured $3 million to bolster its expansion efforts. This funding comes on the heels of an unprecedented growth year for Helia, which specializes in optimizing bill-only medical device procurement for health systems and suppliers.

Transforming Healthcare Procurement

Helia's platform addresses a critical component of hospital supply chains: bill-only transactions. This method is employed when healthcare providers need to procure vital medical devices and supplies at the moment of treatment, rather than relying on stock inventory. Astonishingly, 50% of hospital supply spending is attributed to bill-only procurement processes, which generate 60% of net patient revenues. Despite the significant financial stakes, this method has traditionally been susceptible to errors and inefficiencies.

Justin Gray, co-founder and managing partner at In Revenue Capital, emphasized the importance of Helia's platform in achieving tangible results. "Helia saves hospitals an average of $1.85 million per location," he stated, highlighting the substantial financial impact of the technology. Helia has meticulously crafted a two-sided network that integrates leading medical device suppliers, establishing a foundation for health systems to realize immediate value.

Earning Trust and Ensuring Efficiency

One of Helia's distinguishing features is its commitment to aligning clinical ordering processes with existing supplier contracts. This not only minimizes errors but also mitigates the risks of off-contract purchasing and price discrepancies, which can lead to fraud and waste. The software’s seamless integration into hospital workflows means that hospitals benefit from a solution not only designed for scalability but also for ongoing financial impact.

Grant Siders, the founder and CEO of Helia Care, articulated the challenges of developing such a trust-based network, stating, "The hardest part of building a true healthcare network is earning trust on both sides." By harmonizing clinical processes with supplier terms, Helia fosters an environment where hospitals, suppliers, and distributors collaboratively benefit from the solution.

Investment Philosophy and Strategic Goals

In Revenue Capital's participation in this funding reflects its strategy of supporting firms that demonstrate operational excellence alongside disciplined execution. They seek to invest in companies that not only have strong technology foundations but also validate their value propositions through concrete results from actual deployments in health systems.

Craig Coppola, also a founder at Habanero Ventures, echoed this sentiment, asserting that Helia is not merely solving a technical issue but tackling a significant execution challenge faced by hospitals and suppliers daily. He noted the impressive supplier relationships Helia has formed and the measurable savings already observed in various health systems, affirming that these aspects are critical for scaling their operations in a complex market.

Setting New Standards in Medical Device Procurement

Unlike conventional bill-only management systems that often involve outsourcing or service offerings, Helia's approach leverages advanced software solutions complemented by a robust two-sided network. This architectural choice empowers both hospitals and suppliers to function on a unified platform tailored specifically for high-cost, time-sensitive medical device procurement needs.

The impact of Helia's innovation is widespread, as it introduces a transformative model for managing intricate and often convoluted medical purchasing processes, promoting efficiency across the healthcare spectrum.

As Helia Care continues its expansion, aiming for an ambitious $10 billion savings milestone, the company's commitment to enhancing efficiency and trust within healthcare procurement stands at the forefront. To find out more about their groundbreaking solutions, interested parties are encouraged to visit their website.