Coral’s Journey in Healthcare Automation
Coral, a healthcare automation startup dedicated to the US administrative sector, has secured $12.5 million funding from Z47 (previously known as Matrix Partners India) and Lightspeed. This funding will be utilised to expand the engineering team and recruit experts in healthcare operations. Founded by alumni of IIT Hyderabad, Ajay Shrihari and Aniket Mohanty, who previously worked as founding engineers at LimeChat, Coral focuses on automating back-office processes that traditionally depend on manual coordination and fax machines.
The platform seamlessly integrates with existing Electronic Health Records (EHRs) and payer portals, managing patient intake, prior authorisations, and insurance verification without necessitating changes to providers’ current software systems. Initially, Coral entered the durable medical equipment field and has now broadened its reach to include infusion centres and specialty pharmacies.
The technology boasts impressive capabilities, managing document processing for handwritten faxes and insurance cards with a reported accuracy of 99.7%, thereby streamlining complex intake procedures to less than five minutes. Current efforts in product development are centred around an AI-driven workflow builder, enabling providers to create customised automations, along with a co-pilot feature to evaluate operational metrics such as claim denial rates and referral trends. This latest investment enhances Z47’s portfolio of AI-focused enterprise companies, which includes notable firms such as Rocketlane and Krutrim.
