Medallion, an artificial intelligence platform provider focused on healthcare automation, secured $43 million in new funding. Acrew Capital led the round, bringing Medallion's total funding to over $130 million.
The company automates manual back-office duties for healthcare organizations. It streamlines credentialing, enrollment, and compliance management. Medallion's platform delivers essential healthcare automation.
Medallion Launches CredAlliance for Payers
Medallion also introduced CredAlliance, a shared credentialing infrastructure system for payers. This new service verifies healthcare providers once. It then syndicates results across a network, reducing duplication.
Redundant credentialing efforts cost the healthcare system over $1.2 billion annually.
The United States has more than 4 million providers. Each contracts with an average of 19 payers, creating over 25 million annual credentialing events. Medallion's solution significantly cuts this administrative burden.