Silna Health, a company using AI to tackle healthcare’s prior authorization bottleneck, announced raising $27 million in total funding. This includes a $22 million Series A round co-led by Accel and Bain Capital Ventures, with angel investors such as the co-founders of Ramp, Opendoor, Truework, and Eight Sleep. The Series A follows a previously undisclosed $5 million seed round also led by Accel and Bain Capital Ventures.
Millions of Americans experience dangerous delays in accessing medical care due to prior authorization hurdles, exacerbating administrative burdens for physicians amid staffing shortages. According to the American Medical Association, 93% of doctors report that these delays have resulted in patient harm.
“Every day, Americans wait weeks or months for critical treatments as insurance paperwork piles up on fax machines,” said Jeffrey Morelli, Silna Health’s co-founder and CEO. “We’re bringing modern technology to a broken system that hasn’t evolved since the 1970s. Our platform is already helping patients get faster access to life-changing treatments.”
Silna Health’s AI-powered front-end revenue cycle management (RCM) platform benefits doctors, patients, and insurers by consolidating processes across eight insurance portals. Since its launch, the platform has slashed pre-visit insurance verification time from 30 minutes to 30 seconds and facilitated faster approvals for over 50,000 patients seeking treatments like behavioral therapy, rehabilitation, and hospice care. Insurance approval times, once stretching for weeks, have been cut to just four hours, with a 99.8% success rate surpassing industry standards.
The platform’s streamlined automation reduces the need for several staff members per medical practice, allowing healthcare providers to redirect resources from administrative tasks to patient care. This efficiency is particularly critical for patients with conditions requiring ongoing therapy, where delays can jeopardize treatment outcomes.
“What drew us to Silna Health is the founding team’s deep expertise in financial automation and scaling high-growth companies,” said Amit Kumar, partner at Accel. “They’re applying proven automation strategies to solve one of healthcare’s most entrenched problems.”
Silna Health’s platform has gained traction nationwide, particularly among specialty healthcare providers, including Applied Behavior Analysis (ABA) centers, occupational therapy clinics, and cardiac rehabilitation facilities.
“The relationship between insurers, doctors, and patients has been shifting for years,” said Kevin Zhang, partner at Bain Capital Ventures. “Silna Health’s innovative use of AI expedites cumbersome processes, ensuring timely patient care, smoother insurance payments, and more time for doctors to focus on what matters—treating patients.”
