BREAKING: Handl Health has just secured a groundbreaking $14.2 million in Series A funding to tackle rising healthcare costs using advanced AI technology. This major investment, led by Arthur Ventures, will accelerate the rollout of Handl’s innovative healthcare intelligence platform that is set to transform how both consumers and businesses manage health insurance.
Based in Culver City, Handl Health aims to combat the staggering disparities in healthcare pricing. Co-founder and CEO Ahmed Marmoush highlighted the urgent need for transparency in an industry where a simple procedure, like a colonoscopy, can range from $350 to $3,500. “We have built consumer-facing tools on top of the data to make cost comparisons, but we serve businesses by building systems for insurance brokers as well as third-party administrators,” Marmoush stated.
The company’s remarkable growth is evidenced by a nearly 300% increase in revenue over the past year, as mid- and large-sized companies seek solutions to combat escalating healthcare premiums. Currently, more than 164.5 million people in the U.S., approximately 60% of citizens under retirement age, are covered by employer-sponsored health plans, underscoring the urgent need for cost-effective healthcare solutions.
Handl Health’s platform, which participated in the Cedars-Sinai Accelerator program in 2023, aims to provide national data at a specific service level, allowing businesses to monitor and adjust healthcare plans effectively. Marmoush emphasized the importance of integrating virtual care options to enhance patient outcomes and reduce costs.
As healthcare costs continue to rise, the implications of Handl Health’s platform could be significant for millions of Americans. The healthcare intelligence space is witnessing a pivotal shift, and Handl Health is at the forefront of this transformation.
Stay tuned for further updates as Handl Health rolls out its innovative solutions aimed at reshaping the healthcare landscape.
