DUOS, a technology-enabled service supplier, has raised $130 million to broaden its platform to extra well being plans throughout the nation, it announced on Thursday.
The Minneapolis-based firm helps sufferers and their caregivers by addressing health-related social wants and connecting members to care. As soon as contracted with a well being plan, DUOS reaches out to eligible members by way of textual content, e mail or mail to tell them of the profit and invite them to enroll. Members can then share their high social and care-related wants — similar to entry to meals or transportation — and DUOS connects them with related sources and suppliers based mostly on their protection, location and particular person circumstances.
The $130 million in funding was led by FTV Capital and included participation from Forerunner Ventures. In complete, the corporate has raised $163 million.
“Most well being tech guarantees to enhance engagement, however DUOS really proves it, with actual completion charges and measurable influence,” stated Alex Mason, associate at FTV Capital, in an announcement. “At FTV, we’ve spent many years investing in healthcare innovation, and DUOS stands out for leveraging AI to construct the important infrastructure well being plans must function effectively and enhance member outcomes at scale. We’re thrilled to help the corporate in constructing on its spectacular momentum and driving the platform’s continued growth.”
With the funding, the corporate will primarily put money into advancing its platform and enhancing its AI capabilities, in response to Karl Ulfers, CEO and co-founder of DUOS.
“For instance, DUOS will proceed to broaden its agentic use of AI to automate the ultimate mile of presidency applications, advantages navigation, and appointments for preventative care and develop AI/ML-driven fashions that assist determine sufferers in want of income-based applications, scientific care coordination, and improved entry to high quality of care,” he stated in an e mail.
As well as, the corporate is utilizing the funding to broaden to extra well being plans, together with Medicare Benefit, Medicaid and Reasonably priced Care Act market plans.
Alongside the funding, DUOS introduced that Jenn Kerfoot has been promoted to president of market operations to “proceed advancing business success and positioning DUOS because the working layer to drive each member engagement and measurable plan efficiency leveraging AI,” the press launch acknowledged. Kerfoot was beforehand the chief technique and progress officer.
DUOS’ announcement comes as many authorities plans face vital finances cuts. The corporate is poised to help members throughout these cuts, Ulfers previously told MedCity Information.
“In each sector of Medicare Benefit, prescription drug plans and Medicaid, all these plans are going to vary over the following couple of years, and that’s going to create an unimaginable quantity of confusion,” he stated. “We wish to be that voice of simplicity and entry for the older adults of this nation to know what’s altering and the way they will ensure they proceed to get unimaginable high quality of care.”
Firms that provide related companies to DUOS embody mPulse and Cleo.
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