Company Research Report: Plenful

Company Overview

Name: Plenful

Mission: To give superpowers to healthcare operators by optimizing administrative work with AI-powered workflow automation, improving productivity and revenue capture for healthcare organizations.

Founded: 2021

Founders: Not explicitly mentioned, founded by experienced pharmacy operators.

Key People:

Dr. Peter Chang, Vice President of Healthcare Design, Tampa General Hospital (mentioned in customer testimonials)

Adam Porath, VP of Pharmacy, Renown Health (mentioned in customer testimonials)

Headquarters: San Francisco, CA

Number of Employees: No information is available

Revenue: No information is available

Known For: AI-powered automation solutions tailored for pharmacy and healthcare operations, optimizing workflows, and improving operational efficiency.

Products

1. 340B Audit & Missed Savings

Description: Provides comprehensive auditing to identify 100% of missed savings and referral opportunities.

Key Features:

100% volume audit

Identification of missed savings

Capture referral opportunities

2. Intelligent Document Processing

Description: Automates the processing of documents like referrals, orders, and intake forms, eliminating manual data entry.

Key Features:

Automation of manual data entry

Streamlining of data enrichment

Support for multiple document types

3. Contracted Rates Optimization & Inventory Planning

Description: Aids in capturing rate discrepancies, optimizing purchasing, and preventing wastage to fuel proactive planning.

Key Features:

Identification of contract rate discrepancies

Inventory management for shortages, waste, and recalls

Financial outcome capture

4. Pharmacy Revenue Cycle & Reporting

Description: Automates critical back-office workflows associated with pharmacy claims, CMS reporting, eligibility, and reimbursement reconciliation.

Key Features:

Pharmacy claims auditing

Opportunity identification

Part D risk adjustment

Unlimited crosswalks for data

Recent Developments

New Products and Features

July 15, 2024: Engaged in discussions around interoperability in pharmacy, focusing on standards, challenges, and solutions.

June 12, 2024: Raised $17M Series A to drive innovation in healthcare automation.

March 1, 2024: Leveraged AI to enhance efficiency in 340B auditing and optimization.

January 2, 2024: Compared RPA and AI-Powered workflow automation, emphasizing the benefits of AI.

August 9, 2023: Addressed the pharmacy technician labor shortage with AI software, optimizing operations despite workforce constraints.

Strategic Initiatives and Partnerships

AI Incorporation: Advanced their machine learning capabilities to unlock optimizations, revenue opportunities, and increase operational output.

Customer Success Stories:

New England Academic Medical Center optimized 340B auditing and financial reporting, significantly reducing manual work.

Large Multi-State Specialty Provider automated daily orders and referrals, reducing manual efforts remarkably.

Large Health System Pharmacy revamped inventory planning and optimization with AI-driven solutions.

Testimonials: Received high satisfaction ratings from various healthcare leaders, emphasizing ease of implementation and the impact on operations.

Conclusion

Plenful has established itself as a pivotal player in healthcare AI automation by offering robust, customizable solutions to streamline and optimize complex workflows in pharmacy and healthcare operations. Its continued innovation and focus on customer success stories signal strong operational impact and potential for growth in the healthcare sector.