Key Highlights
- $4.6M seed funding led by Maverick Ventures
- AI-enabled SaaS solution for out-of-network and reference-based pricing
- Real-time repricing, automatic benchmarking, and detailed pricing rationale
- 100+ years of combined experience in healthcare and technology
- Launch expected in the next few months with multiple implementations
Source: Business Wire
Notable Quotes
- “It is not lost on us that truly reducing healthcare admin spend is difficult. We are also cognizant that numerous well-funded companies and entrepreneurs have had limited success to date in this realm,” – Navin Nagiah, CEO at Daffodil Health
- “The intricate challenges of out-of-network repricing demand innovative solutions that marry simplicity with efficiency,” – Andrew Boyd, Executive VP and GM, healthcare solutions at Personify Health
- “Daffodil is boldly addressing this issue through cutting-edge AI, transforming claims adjudication and slashing administrative costs,” – Prateesh Maheshwari, Managing Director at Maverick Ventures
SoHC's Take
Daffodil Health’s recent $4.6 million seed funding marks a significant milestone in the evolution of healthcare pricing and administration. By leveraging AI and large language models, Daffodil is positioned to address one of the most pressing issues in healthcare—administrative inefficiency and exorbitant costs. Their AI-enabled SaaS solution for out-of-network and reference-based pricing is a game-changer, promising real-time repricing, automatic benchmarking, and detailed pricing rationale. As healthcare systems worldwide grapple with the complexities of pricing and billing, Daffodil’s innovative approach could lead to substantial cost savings and streamlined operations, benefitting payors, TPAs, and ultimately, patients.
