Plenful, a leading platform that modernizes pharmacy and healthcare workflows through automation, has unveiled a $9 million funding boost. Spearheaded by Bessemer Venture Partners, this investment underscores Plenful’s growing importance in supporting over 20 major healthcare institutions and pharmacies.
Origins of a Visionary Platform
Having navigated the operational intricacies of Shields Health Solutions, a specialty pharmacy within a healthcare system, Plenful’s CEO, Joy Liu, identified a glaring need. There was a gap for a platform that could amalgamate diverse data and customize client-specific regulations seamlessly.
Liu recollected, “During my time as a pharmacy operator, I collaborated with many talented pharmacists and technicians. I witnessed firsthand the administrative hurdles leading to exhaustion and staff shortages in healthcare.” She further illuminated Plenful’s mission, stating, “By leveraging advanced workflow automation and AI, we aim to enhance productivity. Our ultimate objective is to unburden healthcare professionals, letting them prioritize key tasks and optimize their potential.”
Harnessing AI and Human Collaboration
What makes Plenful stand out is its fusion of AI-driven automation processes complemented by human oversight. Clients utilize Plenful for diverse functions, such as automating data entries for referrals, pinpointing savings in 340B audits, and optimizing pharmacy revenue cycles.
Yet, technology adoption in healthcare can be riddled with obstacles, predominantly IT concerns. Plenful’s innovative no-code infrastructure and adaptive endpoints simplify this journey. Implementations focusing on specific use-cases have been accelerated, taking mere weeks instead of extensive months or even years. Consequently, clients have reported a staggering 97% dip in manual tasks, saving over 50 hours daily.
Dr. Peter Chang from Tampa General Hospital expressed his satisfaction, noting, “By integrating Plenful, our care team has been liberated to concentrate on more impactful aspects. With its user-friendly automation, Plenful’s incorporation has been effortless, and the direct benefits are evident.”
A Growing Clientele and an Optimistic Future
Among Plenful’s impressive clientele are renowned names such as Tampa General Hospital, Renown Health, and Medication Management Partners. The platform extends its services to a broad spectrum of healthcare entities, from specialty pharmacies to manufacturers.
Sharing his enthusiasm, Andrew Hedin from Bessemer Venture Partners remarked, “We’re excited to collaborate with Plenful. They’re pioneers in infusing automation and machine learning into pharmacy operations. Given the rampant clinician and staff fatigue affecting healthcare, Plenful’s endeavors to address these labor shortages are indeed commendable.”
TL;DR
Plenful, an avant-garde platform merging AI with human expertise, has garnered $9 million in funding to optimize pharmacy and healthcare workflows. Born from CEO Joy Liu’s first-hand experience, Plenful aids over 20 major health entities, minimizing manual work and empowering professionals to reach their peak potential.
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