Milu Health: $4.8 Million Raised To Use AI For Driving Costs Savings In Healthcare

By Amit Chowdhry • Mar 11, 2024

Milu Health is a health tech company that uses artificial intelligence (AI) to drive healthcare cost savings for employees and employers. Today, the company announced its seed financing of $4.8 million led by Andreessen Horowitz (a16z) Bio + Health and its launch with over a dozen employers to expand employee access to its platform.

BoxGroup, PagsGroup, 81 Collection, and other investors also joined the round. Milu will use the funding to continue developing its technology platform and expanding its operations.

Milu works with employers to deploy its member-facing platform, helping patients save on healthcare costs. After patients connect their health record data to Milu’s platform, the technology and nursing team notify and support them in accessing better-quality and better-value healthcare.

Milu’s platform helps patients find better prices and higher-quality doctors, flag and fight incorrect medical bills, and access affordable medications. The platform also processes information about the employer’s healthcare plan and utilizes it to appropriately notify employees whenever an existing benefit, such as a chronic condition management service or digital health app, could be helpful.

The company integrated electronic health record (EHR) data from 40,000+ provider groups and health systems in the past year. These integrations enable Milu to generate notifications for patients well ahead of other data modalities as they make active care decisions.

KEY QUOTES:

“Patients face an impossible barrage of decisions in our healthcare system, between navigating which specialists to visit, how to afford medications, and whether their medical bills are right. Through leveraging electronic health record data, our platform provides cost savings support to patients in real-time, right after they see their doctor.”

– Milu co-founder Sasha Gribov

“There are so many cracks in our health system that millions of patients fall through, leading to an exponential rise in their healthcare costs—oftentimes just for routine doctor visits, necessary medications, or other procedures. At Milu, we built our technology and patient engagement platform to catch these patients and find ways to save them costs in as many ways possible throughout the entirety of their healthcare journey.”

– Milu co-founder Gautam Kumar