Insider Brief
- Milu Health announced a $4.8 million seed financing round led by Andreessen Horowitz to expand employee access to its AI-driven health tech platform aimed at reducing healthcare costs for both employees and employers.
- The platform integrates with electronic health records to proactively notify patients about cost-saving opportunities in real-time, such as accessing better value healthcare, fighting incorrect medical bills, and finding affordable medications.
- Milu Health has integrated with EHR data from over 40,000 provider groups and plans to use the new funding to enhance its technology and expand operations, aiming to address gaps in the healthcare system and reduce patient costs.
PRESS RELEASE — NEW YORK/March 11, 2024— (BUSINESS WIRE) — Milu Health, a health tech company that uses AI to drive cost savings in healthcare for employees and employers, today announced its seed financing of $4.8 million, led by Andreessen Horowitz (a16z) Bio + Health and its launch with over a dozen employers to expand employee access to its platform.
Milu partners with employers to deploy its member-facing platform, which helps patients save on their healthcare costs. When patients connect their health record data to Milu’s platform, its technology and nursing team proactively notifies and supports patients to access better quality and better value healthcare.
“Patients face an impossible barrage of decisions in our healthcare system, between navigating which specialists to visit, how to afford medications, and whether their medical bills are right,” said Milu co-founder Sasha Gribov. “Through leveraging electronic health record data, our platform provides cost savings support to patients in real-time, right after they see their doctor.”
Milu’s platform helps patients find fairly priced and high-quality doctors, flag and fight incorrect medical bills, and access more affordable medications. Its platform also ingests information about the employer’s healthcare plan and uses that to appropriately notify employees whenever an existing benefit, like a chronic condition management service or digital health app, could be helpful to them.
Over the past year, the company has integrated electronic health record (EHR) data from over 40,000 provider groups and health systems. These EHR integrations enable Milu to generate notifications for patients weeks or months ahead of other data modalities as they make active care decisions.
“There are so many cracks in our health system that millions of patients fall through, leading to an exponential rise in their healthcare costs — oftentimes just for routine doctor visits, necessary medications, or other procedures,” said Milu co-founder Gautam Kumar. “At Milu, we built our technology and patient engagement platform to catch these patients and find ways to save them costs in as many ways possible throughout the entirety of their healthcare journey.”
BoxGroup, PagsGroup, and 81 Collection, among other investors, also participated in the financing. Milu will use the funds to continue building out its technology platform and expand its operations.
About Milu Health
Milu Health is a health tech company using AI to drive cost savings in healthcare for employees and employers. Founded in 2023 by Sasha Gribov and Gautam Kumar, Milu’s platform integrates directly with patient health records to identify ways they can access higher-quality healthcare at a better price. To learn more about Milu’s mission to reduce healthcare costs for Americans, visit miluhealth.com.
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