What You Should Know:
– Plenful, an AI workflow automation platform streamlining pharmacy and healthcare operations, today announced a $17M Series A round, increasing its total raised capital to more than $25 million.
– This milestone signifies a meaningful step forward in Plenful’s mission to modernize pharmacy operations through advanced automation and artificial intelligence.
Revolutionizing Pharmacy Operations: Plenful’s AI-Driven Solution to Healthcare’s Administrative Challenges
The U.S. healthcare system is burdened by nearly $1 trillion in manual and administrative labor costs, a situation exacerbated by post-COVID labor shortages and employee burnout. These factors inflate expenses, reduce service efficiency, and ultimately compromise patient care. Additionally, recent significant declines in pharmacist graduation rates have intensified the administrative challenges faced by pharmacy operation teams.
Plenful, a company founded by experienced pharmacy and healthcare operators, offers a solution to these issues through its highly-configurable AI software. This platform is designed to streamline and automate various pharmacy administrative tasks, aiming for seamless “one-click” workflows. Available for a range of pharmacy types, including in-house specialty pharmacies, contract pharmacies, mixed-use, and compounding pharmacies, Plenful can reduce manual work by up to 97% and identify substantial savings opportunities.
Using AI and machine learning, Plenful tackles key industry pain points, driving revenue growth while reducing time and costs for its clients. Notable customers include Tampa General Hospital, Renown Health, Cedar Sinai, Salinas Valley Health, Blue Cross Blue Shield, and numerous other innovative healthcare teams. Plenful’s platform addresses critical customer needs through several core use cases, including comprehensive 340B auditing and financial reporting, payer rates and inventory optimization, and intelligent document data entry automation.
Plenful is a pioneering healthcare technology startup focused on revolutionizing pharmacy and healthcare operations with advanced workflow automation and AI. Founded by a team of healthcare operators and technologists, the company is dedicated to empowering pharmacies with innovative solutions that enhance efficiency, ensure compliance, and foster revenue growth.
“Having years of firsthand experience in the trenches of pharmacy and healthcare operations, we intimately understand the challenges faced by professionals in the field,” said Joy Liu, CEO and Founder of Plenful. “Our mission is to empower pharmacy and healthcare teams with tools that alleviate the burden of manual administrative tasks, allowing them to focus on what matters most – providing exceptional patient care and empowering their staff. Fueled by new capital, we will continue building out our robust infrastructure, focusing on customer needs in each unique automation set, and expanding the use of machine learning with a focus on LLMs to create the best possible, seamless experience for customers.”