Plenful, a healthtech firm specializing in workflow automation for healthcare practitioners, has successfully emerged from stealth mode, securing a robust $9 million funding. The fundraising feat was accomplished primarily through the efforts of Bessemer Venture Partners who led the round.
Joy Liu, Plenful’s Co-founder and Chief Executive Officer, expressed the principle objectives to be addressed with this capital. She highlighted their plans to expand the company’s existing 20-person team, specifically emphasizing the need for augmentation in engineering, product development, administrative, and sales areas. Liu also emphasizes the goal to proliferate Plenful’s customer base. At present, the company has approximately 20 healthcare corporations which utilize its services.
The CEO, in her interview with TechCrunch, stressed the substantial stress and workload plaguing the pharmacy industry, factors contributing to high turnover rates and a growing labor deficit in the sector. Liu explained, "Plenful aims to provide relief from such mundane responsibilities by automating administrative work thereby freeing up time for technicians and care teams to concentrate on top-of-license tasks."
The CEO’s past experiences as a health system specialty pharmacy operator at the Shields Health Solutions, now owned by Walgreens, directly influenced the establishment of Plenful. Confronting the labor-intensive and time-consuming pharmacy workflows, Liu observed its detrimental effect on her team. She also found herself embroiled in numerous discussions concerning burnout and lack of time for vital tasks with medical staff members.
The solution she derived was Plenful, a flexible system capable of accommodating disparate data sources and highly configurable to accommodate organization-specific requirements. Plenful operates by overlaying a healthcare system’s current data sources, simultaneously monitoring, automating manual data entry, and validating data to prevent potential errors. The platform processes data in various formats, for instance, PDFs and electronic medical records, deploying algorithms to generate “actionable insights” for clinical decision-making.
Current clients employ Plenful’s platform to automate document data entry during the onboarding and referral of prescription requests, auditing procedures, and in identifying probable savings, among other applications.
"Plenful enables pharmaceutical technicians to automate manual and administrative workflows, enabling them to concentrate on human processes, maintaining pharmacy compliance while combating employee exhaustion," said the CEO. She confidently added that few competitors match Plenful’s level of healthcare-specific, configurable workflow automation solutions.
When it comes to ease of use, platforms like the AppMaster no-code platform also make a mark. With scope for easy drag-and-drop application creation, AppMaster also delivers an intuitive environment for building complex applications for various industries, including healthcare.
