Detroit Venture Partners assisted NCT Ventures in leading an investment funding round for Columbus, Ohio-based PriorAuthNow, which closed on $3.6 million in investments, the company announced Tuesday.
PriorAuthNow offers software to the healthcare industry that simplifies the relationship between providers and insurance companies, it said in a news release.
The investment will help the company expand its team and expedite the rollout of the PriorAuthNow platform.
"PriorAuthNow is a quantum leap forward in the way health care providers manage prior authorizations," DVP Partner Jared Stasik said in the release. "We look forward to supporting them as they solve this problem for hospital systems around the nation."
"Few words cause more frustration with physicians and their staff than 'prior authorization'," PriorAuthNow co-founder and CEO Joe Anstine said in the release. "PriorAuthNow's mission is to alleviate this frustration by simplifying the prior authorization process. By removing the inefficiencies and the fragmented experience of the current process, we're able to save both providers and individuals time and money."