Health reimbursement platform Gentem raises $3.7 million
San Francisco-based Gentem has raised $3.7 million for its revenue cycle management, reimbursements and payments platform for healthcare providers.
Established last year and led by cofounder and CEO Fisayo Ositelu and cofounder and CTO Emmanuel (Manny) Akintayo Gentem Health handles the end-to-end billing and revenue cycle processes and pays physicians upfront for their services. “Because they leverage automation, data science and access to financial products, Gentem is able to increase cash flow, drastically reduce account receivable days and uncover opportunities to increase revenue.”
“The challenges physicians face often get lost in the conversations about the broken healthcare system. There are tremendous administrative complexities and waste in the health system; and doctors who run their own practices are not spared from these struggles. We believe that more doctors will choose to work for physician-owned practices because independent doctors have higher job satisfaction than those working for hospitals and can offer their services at a lower cost for patients.”- Fisayo Ositelu, MD, CEO and cofounder of Gentem.
Susa Ventures led the funding round with participation from Village Global, Vulcan Capital, Hustle Fund, 500 Fintech, Social Starts, Great Oaks VC and others.