WhiteSpace Health Announces $18 Million in New Funding to Build Out AI-driven Revenue Intelligence Platform
WhiteSpace Health today announced a $18 million investment from parent company, Omega Healthcare, that is backed by investment funds managed by Goldman Sachs Asset Management (Goldman Sachs) and Everstone Capital, to accelerate the product roadmap of its AI-driven Revenue Intelligence Platform and the expansion of its selling engine.
Read More: FPT Software Partners With IGPI Singapore To Support Digital Transformation In Southeast Asia
WhiteSpace Health has quickly become the leading provider of healthcare analytics in the ambulatory setting through direct and white labeled solutions. Earlier this year, WhiteSpace Health entered the acute care market. Clients across the entire healthcare continuum are now realizing hundreds of millions of dollars in revenue uplift from the guided insights contained in the revenue cycle and operations modules of this enterprise grade platform.
According to Gautam Char, President and CEO of WhiteSpace Health, “We are thrilled with the demand for our Revenue Intelligence Platform. WhiteSpace Health converts information, often from disparate sources, into actionable insights that stem revenue leakage, lower denial rates, reduce patient no-shows, and create more efficient operations. The resulting top line growth of clients is impressive. Our powerful AI capabilities leverage the vast healthcare IT and RCM operations experience the team possesses, allowing us to earn a leadership position in market. This additional investment will allow us to add complementary solutions and rapidly bring those benefits to the market.”
Read More: Drips Named Award Honoree For Cascade Capital’s Business Growth Awards Program
“In the last six months, WhiteSpace Health has signed up impressive new clients, demonstrated a strong financial ROI for its customers, and has executed with precision,” said Harsh Nanda, Managing Director in the private equity business within Goldman Sachs Asset Management.
“WhiteSpace Health continues to invest in and fill a market void in AI driven deep solutions around denials management and operational analytics,” said Avnish Mehra, Senior Managing Director at Everstone Group.
