CoreCare Analysis: $3M Raised
What is CoreCare?
CoreCare provides an AI platform for proactive revenue integrity in long-term care. It identifies and fixes eligibility, census, and compliance issues before they affect reimbursement. The company says 1,500 plus facilities use the platform and that it optimizes 6 billion dollars plus in annual revenue.
Location
1133 Broadway, New York, New York 10010, US
Employees
11-50
Founded
2020
Revenue
$1.3M
Business Model
Software-as-a-service model charging $300 to $500 per facility monthly.
Product Features & Capabilities
- CoreCare Admit, CoreCare Revenue, CoreCare Clinical
- key features include compliance tracking, collaboration tools, automated eligibility checks, Medicaid application management, MDS assessment tracking, instant alerts for approvals, centralized data management.
How much CoreCare raised
1 - $3 million
October 29, 2020Lead Investor: Primetime Partners, Goat Capital, Funders Club, Liquid2Ventures
Who are the founders of CoreCare
MS
Mehrdad Shafaie
Founder
DA
Dennis Antonelos
Cofounder & CEO
Market Focus
CoreCare primarily focuses on the healthcare industry, specifically in the long-term care sector, providing AI-powered workflow solutions for revenue management in nursing homes.
Investors
- Pareto Holdings
- Jon Oringer
- IAG Capital Partners
- TwentyTwo VC
- International Accelerator
- Y Combinator
- HDS Capital
- Amplifyher Ventures
- Bolur Holdings
- Brandhaus Capital Partners
- Cathexis Ventures
Competitors Overview
CoreCare operates in the long-term care sector, focusing on AI-powered workflow solutions for revenue management. Its main competitors include:
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OODA Health: This company provides a platform that automates healthcare payments and revenue cycle management. OODA Health's notable advantage is its focus on streamlining patient billing and payment processes, which can enhance cash flow for healthcare providers. They also emphasize transparency in billing, which can improve patient satisfaction.
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AxiaMed: AxiaMed specializes in payment solutions for healthcare providers, offering services that include patient payment processing and revenue cycle management. Their advantage lies in their integration capabilities with existing healthcare systems, which can simplify the payment process for both providers and patients. They also focus on enhancing patient engagement through their solutions.
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Machnet: Machnet Technologies provides financial services and solutions tailored for the healthcare industry. Their competitive edge includes a strong emphasis on data analytics and reporting, which can help healthcare facilities make informed financial decisions. They also offer a range of services that can be customized to meet the specific needs of long-term care facilities.
These competitors differ from CoreCare primarily in their specific focus areas within revenue management and the unique features they offer, such as patient engagement and data analytics.
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