BREAKING: Handl Health has just secured $14.2 million in a Series A funding round, aimed at transforming the healthcare intelligence landscape. This ambitious funding, led by Arthur Ventures, will propel the development of their advanced AI-powered platform designed to tackle soaring insurance costs.
Based in Culver City, Handl Health is set to disrupt the traditional health insurance model, a necessity as healthcare premiums continue to surge. “The timing aligns perfectly with new legislation promoting healthcare transparency,” said Ahmed Marmoush, co-founder and CEO. He emphasized the stark variations in healthcare costs, citing that a colonoscopy can range from $350 to $3,500.
Handl’s innovative platform enables businesses, particularly mid- and large-sized companies, to compare costs effectively. “We’ve developed consumer-facing tools built on robust data to facilitate these comparisons,” Marmoush explained. The company also provides systems for insurance brokers and third-party administrators, broadening their reach and impact.
With revenue increasing by nearly 300% in the past year, Handl Health is capitalizing on the urgent need for better healthcare solutions. Currently, over 164.5 million Americans under retirement age rely on employer-sponsored health plans, making this development critical.
Handl Health was part of the Cedars-Sinai Accelerator program in 2023, which offers mentorship and grants to healthcare-focused companies. Their unique approach includes leveraging national data to track service-level changes and incorporating virtual care options to enhance patient outcomes.
As healthcare costs continue to rise, the implications of Handl Health’s platform could be significant for millions of Americans. Industry experts and businesses alike are watching closely to see how this funding will translate into tangible solutions for skyrocketing healthcare expenses.
Stay tuned for further updates on Handl Health’s progress and its potential to reshape the healthcare insurance landscape.
