Fortuna Health, a leading consumer Medicaid navigation platform, recently secured $18 million in Series A funding. Andreessen Horowitz led this investment round. Y Combinator and executives from companies like Abridge and DoorDash also participated.
Modernizing Medicaid Infrastructure
This capital will accelerate Fortuna Health's investments in AI-powered workflows. The company plans expansion into new states and will scale its infrastructure. This expansion addresses surging demand from health systems, managed care plans, and government partners.
Fortuna Health's Medicaid access platform simplifies enrollment and recertification processes. It unifies varied rules across 56 U.S. Medicaid programs into a single, personalized interface. This intelligent, multilingual system helps consumers manage eligibility, applications, and appeals.
The platform integrates with data verification sources and pairs with live navigators. This technology reduces churn by 15%, keeping more individuals consistently covered. Fortuna Health partners with payers serving over 25 million Medicaid lives, including Fortune 50 companies.
Furthermore, the company collaborates with patient payment firms like Cedar to reduce uncompensated care for hospitals. This partnership helps hospitals reduce uncompensated care by up to 53%. The new funding will also support features responding to federal policy changes, such as work requirements.
Fortuna Health's efforts aim to reduce administrative burden for hospitals, health plans, and state agencies. The company improves the efficiency of enrollment and renewal processes. This investment supports a critical need for modernizing Medicaid infrastructure, a challenge also addressed by companies in healthcare technology like Welltok and RelayHealth.
Medicaid's infrastructure requires modernization. Fortuna Health provides a reliable, efficient solution for consumers.
