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Rhyme, formerly PriorAuthNow, delivers a platform automating healthcare prior authorizations for near-touchless processing. It tracks authorization workflows, using proprietary data and tools to eliminate manual effort and friction. The platform fosters payer-provider collaboration, facilitating "Gold Carding" to remove authorizations at the point of care, with shared dashboards for transparent oversight.
Amol Arora and Joe Anstine founded the company in 2014, driven by healthcare's laborious prior authorization complexity. They sought an integrated solution, interfacing directly with electronic health records and insurance carriers. Aiming to dramatically reduce administrative burdens and approval delays for patient care.
Rhyme serves major healthcare providers and payers, boosting operational efficiency. Its vision aims to accelerate patient care access, decrease authorization denials, and achieve significant cost savings. Ultimately, Rhyme strives to enhance provider and patient satisfaction by making prior authorizations seamless and virtually invisible.
PriorAuthNow, Inc. has raised $39.6M across 3 funding rounds.
PriorAuthNow, Inc. has raised $39.6M in total across 3 funding rounds.
PriorAuthNow, Inc. has raised $39.6M in total across 3 funding rounds.
PriorAuthNow, Inc.'s investors include Jon Rosenbaum, Health2047, Mark Buffington, NCT Ventures, Michael Butler, Jared Stasik.
PriorAuthNow, Inc. has raised $39.6M across 3 funding rounds. Most recently, it raised $25.0M Rhyme - Other Equity in February 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 14, 2022 | $25M Venture Round | JON Rosenbaum | Health2047, Mark Buffington | Announced |
| Apr 1, 2018 | $11M Series A | — | NCT Ventures | Announced |
| Aug 29, 2017 | $3.6M Venture Round | Michael Butler | Jared Stasik | Announced |
PriorAuthNow, Inc. (now rebranded as Rhyme) builds a SaaS platform that automates and streamlines prior authorizations in healthcare by creating an integrated network for real-time collaboration between providers and payers.[1][4][5] It serves hospitals, health systems, laboratories, medical device manufacturers, and insurance carriers, solving the labor-intensive prior authorization process—which impacts 40-50% of provider revenue—by integrating directly with EHR systems and payer case management tools to cut administrative time, reduce costs, and accelerate patient care.[1][2][3] The company, founded in 2014 and based in Columbus, Ohio, has raised $42.5 million in funding, manages $61 billion in provider net patient revenue, generates $13.9 million in revenue, and employs around 72 people, with over 300% growth in the year prior to 2022.[1][2]
PriorAuthNow was founded in 2014 in Columbus, Ohio, co-founded by a physician to address inefficiencies in prior authorizations, launching with the goal of enabling "intelligent collaboration" between providers and payers.[1][2] The idea emerged from the need to eliminate manual processes like phone calls, multiple payer portals, and varied forms, integrating instead with existing EHR and payer systems for automated, electronic handling.[2][3] Early traction included securing 39 hospitals and health systems as customers by 2018, followed by a $10.5 million Series A led by BIP Capital, NCT Ventures, and Detroit Venture Partners to fuel sales and double staff.[3] A pivotal $25 million raise in 2022 supported network expansion amid 300% growth, leading to a 2022 rebrand to Rhyme to reflect a broader mission beyond just prior authorizations.[1][5]
PriorAuthNow (Rhyme) rides the healthcare AI and automation trend targeting administrative waste, where prior authorizations delay care and consume vast resources amid rising payer-provider tensions.[1][5] Timing aligns with regulatory scrutiny on utilization management and post-pandemic demands for efficiency, as 40-50% of provider revenue hinges on these processes.[1][3] Market forces like EHR adoption, value-based care shifts, and payer consolidation favor its network effects, positioning it against competitors like Cohere Health and Waystar by emphasizing collaborative intelligence over siloed automation.[4] It influences the ecosystem by reducing friction for 39+ health systems and payers, improving outcomes, and enabling scalable prior auth solutions that could expand to adjacent areas like utilization management.[1][3][4]
Rhyme is poised to deepen payer-provider network penetration post its $42.5 million funding and rebrand, potentially expanding beyond prior auth into full utilization management amid AI-driven healthcare efficiencies.[1][4][5] Trends like regulatory pushes for faster approvals, AI copilot integrations, and non-fax communication will amplify its edge, with growth fueled by its $61 billion revenue under management and Columbus health IT hub momentum.[1][2][6] Its influence may evolve from niche automator to ecosystem orchestrator, tying back to its physician-led origins in slashing authorization burdens to deliver faster, cost-effective patient care.[1]
