Olive Set to Achieve Record Growth in 2019, Digital Employee Hired at More Than 500 Hospitals

Olive Set to Achieve Record Growth in 2019, Digital Employee Hired at More Than 500 Hospitals

Company behind healthcare’s AI-powered digital employee reports rapid adoption, as hospital leaders look to relieve administrative burden.

COLUMBUS, Ohio, September 26, 2019 – Cost and complexity of healthcare continues to rise, and hospitals and health systems increasingly turn to technologies like artificial intelligence (AI), machine learning and robotic process automation (RPA) to keep up with complexity and drive down the associated costs. Olive, the company that introduced healthcare’s digital employee, today announced a continued increase in company and customer growth.

Olive has expanded adoption of the company’s namesake digital employee this year, finding homes in more than 500 hospitals comprising more than 65 of the nation’s top healthcare organizations in the U.S. Olive customers, Centura Health and Yale New Haven Health, were both seeking artificial intelligence technology to help achieve mission-critical goals.

“Everything we do at Centura Health is centered around delivering the best care to our patients. We continually strive to innovate and implement solutions that are efficient, effective and aimed at improving the patient experience,” said Ramy Hanna, Senior Vice President of Operations and Shared Services at Centura Health. “Innovative solutions using artificial intelligence help us to achieve our mission of being there for our patient’s health and we look forward to realizing the value Olive will bring to our organization over time.”

At both Centura Health and Yale New Haven Health, Olive will play a key role in taking on burdensome day-to-day processes, so employees can focus on higher-value, more rewarding initiatives.

“At Yale New Haven Health we’re starting our Artificial Intelligence journey working with Olive to automate prior authorizations,” said Sharlene Seidman, Vice President of Patient Financial Services at Yale New Haven Health (YNHH). “At YNHH we believe our people are the pivotal component to providing the best patient financial experience. That’s why we embrace innovation, to remove transaction based work and free our staff to focus on the compassionate guidance of our patients through their healthcare journey. AI is poised to make a significant positive impact at YNHH and on the industry as a whole.”


AI Adoption in Hospitals is Increasing

Health systems, like organizations in many industries, are seeking to increase revenue, reduce operational cost and increase capacity to deliver meaningful work. In fact, twenty three percent of hospital leaders are looking to invest in AI/RPA today, while half plan to do so by 2021 (according to a survey conducted by Olive with Sage Growth Partners).

“There’s a growing, multi-billion dollar problem: healthcare doesn’t have the internet. Instead, healthcare uses humans as routers, forcing workers to toggle between disparate systems – they copy, they paste, they manipulate data – they become robots. They click and type and extract and import, all day long – and it’s one of the leading reasons that one out of every three dollars spent in the industry today is spent on administrative costs.” Olive CEO Sean Lane said. “Olive is on a mission to solve that challenge with health systems deploying a digital workforce that learns, adapts and improves over time.”

As leaders seek to scale and grow, they have realized that AI and RPA are essential tools to support handling and processing data more efficiently. The key to successfully building out an enterprise-wide AI solution is to begin with processes that are high-volume, and repetitive, where you can quickly feel impact; this helps build momentum to expand into more complex workflows.

Olive Learns, Adapts and Improves Over Time

As a digital employee that can complete tasks more than 60 times faster than a human, Olive has been hard at work. So far this year:

  • Olive has completed more than 350 million actions across all workflows and processes
  • For one 2,000+ bed customer, Olive has completed more than 450,000 claim status checks 
  • For another 2,000+ bed customer, Olive has processed more than 250,000 charge corrections

But processing mass amounts of data is not enough. To truly solve critical challenges such as cost savings, efficiency gains and revenue recognition, Olive has to adapt and learn over time. For example, by consuming large amounts of historical claim status data, Olive is already identifying appealable denial codes. Correcting the cause of just one appealable denial code can result in thousands, sometimes even millions, of dollars in revenue recognition. These valuable insights are what sets apart a digital workforce from traditional RPA software.

 

Olive Creates Jobs, Attracts Healthcare and Tech Industry Veterans  

The Olive team is growing rapidly, too. In the first five months of 2019, Olive met a two-year goal to hire 100 new team members, and the company says there will continue to be job growth to match company growth. Recruited talent is increasingly made up of those with healthcare backgrounds, enriching the company’s collective industry knowledge and expertise. Recent executive additions include:

  • Lori Jones, Chief Revenue Officer, is leading Olive’s revenue organization with decades of experience in healthcare at companies like McKesson Corporation and Connance, Inc.  Lori brings deep expertise in helping providers identify effective ways to harness the potential of technology.
  • Jim McCormick, Chief Financial Officer, is leading Olive’s financial, accounting and delivery divisions, with decades of experience in the IT and Software-as-a-Service space.  Jim brings to Olive experience leading finance and operations organizations at companies like Silverpop Systems and Harbinger Corporation. 

“We’re on pace to triple our business and have no plans to slow down,” said Lane. “There’s a clear and present need for operational efficiency in the healthcare industry and Olive brings it – ultimately, we’re leading a movement toward a smarter, more efficient, more connected healthcare experience.”

ABOUT OLIVE

Olive is deploying the first digital workforce built specifically for healthcare, automating healthcare’s most robotic processes, so human employees don’t have to. Olive delivers healthcare organizations improved efficiency and speed while reducing costly administrative errors. Using the systems an organization already has in place, Olive operates as a digital employee intelligently routing information and data between systems automating repetitive, high-volume tasks and workflows, providing true interoperability. Olive is proud to partner with more than 65 healthcare organizations made up of more than 550 hospitals in over 35 states across the country, ranging from some of the nation’s top health systems to small regional hospitals. 

Olive Adds Clinc’s Conversational AI to Digital Healthcare Employee

Olive Adds Clinc’s Conversational AI to Digital Healthcare Employee

Combined technologies unlock conversational applications for an artificial intelligence solution that is uniquely positioned to improve patient satisfaction, boost efficiency, and reduce burnout and costs.

COLUMBUS OH, June 24, 2019 — While new technologies continue to transform the healthcare industry in unprecedented ways, administrative functions still burden the healthcare industry with 1 in every 3 dollars spent on administration. Olive, the company that introduced healthcare’s first digital employee, has joined forces with Clinc, another trailblazer in Artificial Intelligence (AI), to free up time and resources by adding conversational AI capabilities to its existing technology. The combined offering allows Olive’s digital healthcare employee to bring hospitals and health systems broader applications across revenue cycle, supply chain and other financial and operational departments.

This union expands the versatility of Olive by unlocking a broader range of capabilities like, vocal cognition to further help organizations eliminate bottlenecks, simplify administration, keep costs in check and ultimately improve the experience for patients.

Olive’s existing technology has put the digital healthcare employee to work on back-office functions spanning repetitive, time-consuming, and error-prone administrative tasks like claims processing, prior authorization statusing, and extracting patient data from EHRs. Working with Clinc, Olive will add vocal cognition to her current skill set to deliver a balanced mix of AI capabilities including RPA, CV, ML, and NLP/U to propel new opportunities for optimization and end-to-end automation for the AI-powered digital employee. This represents a pivotal milestone in the advancement of human and machine interaction in healthcare.

With these amplified capabilities, Olive is poised to create major improvements in healthcare, for example:

      • Comprehensive automations – Adding conversational AI to Olive’s skill set means that Olive can trigger and complete additional actions and connect steps in the information process that would have required human intervention before. For example, when a diagnosis code is incorrect or missing information on a claim, Olive will find the right data through a dialogue with patients, physicians and nurses.
      • Customer services in call centers –  Clinc brings its ability to take on high call volumes, understand freeform speech, maintain context, and simultaneously parse out inquiries and commands. This will be a breakthrough in areas like patient scheduling.

“This added technology helps us expand our breadth of AI by adding cognitive conversation to Olive’s capabilities,” said Sean Lane, CEO of Olive. “I envision Olive seamlessly interacting with patients and employees and bringing elevated comprehension into data analysis. We’re excited to be entering a new chapter in building a faster, more efficient, more effective healthcare system — the possibilities are endless.”

Today’s announcement comes on the heels of Clinc’s record $52M in its Series B funding round led by investors from Insights Partners, DFJ Growth, Drive Capital and Hyde Park Venture Partners. Drive Capital has also led previous funding rounds for Olive, and made their first investment in the organization in 2013. To date, Clinc has applied natural language understanding technology to a myriad of industries, including the financial, automotive, and food service sectors, but its latest round of funding is earmarked for expanding to new markets including healthcare.

“Healthcare impacts everyone in life-changing ways, and it is also a sector uniquely positioned to benefit from advances in efficiency and interoperability, enabled by AI,” said Jason Mars, CEO of Clinc. “We are advancing a powerful combination of task automation and voice-enabled interaction services that will help healthcare employees and patients to better understand, access and navigate the healthcare experience.”

“By bringing together two complementary, AI based technologies, the Clinc and Olive collaboration is poised to supercharge our digital workforce’s automation capabilities and shift the paradigm for how administrative work in healthcare is done,” added Lane.

To learn more about Olive and Clinc, visit www.oliveai.com and www.clinc.com.

About Olive

Olive is deploying the first digital workforce built specifically for healthcare, automating healthcare’s most robotic processes, so human employees don’t have to. Olive delivers healthcare organizations improved efficiency and speed while reducing costly administrative errors. Using the systems an organization already has in place, Olive operates as a digital employee intelligently routing information and data between systems automating repetitive, high-volume tasks and workflows, providing true interoperability. Olive is proud to partner with over 50 healthcare organizations made up of nearly 350 facilities in over 35 states across the country, ranging from some of the nation’s top health systems to small regional hospitals.  

About Clinc

Clinc is the leading global provider of conversational artificial intelligence technologies for companies like USAA, İşbank, Barclays and others. Headquartered in Ann Arbor, Michigan, the company was founded in 2015 by world-class AI and systems research professor at the University of Michigan. Utilizing the world’s most sophisticated natural language processing engine and the most advanced scientific discoveries in AI research, Clinc’s AI emulates human intelligence and is able to understand unstructured, unconstrained speech, and can interpret not only semantics and intent, but the underlying meaning of user queries.  Learn more at clinc.com.

George S. Barret Elected to Olive’s Board of Directors

George S. Barret Elected to Olive’s Board of Directors

COLUMBUS OH, January 17th, 2019 — Olive, the only healthcare-focused artificial intelligence and robotic process automation company, is pleased to announce the appointment of George S. Barrett, former chairman and chief executive officer of Cardinal Health, Inc as a new director, effective immediately.

“I am exceptionally pleased to welcome George as a new Board member,” said Sean Lane, CEO of Olive. “George brings a wealth of experience and expertise in healthcare transformation and will be a tremendous asset to Olive as we continue our mission of radically reducing the operational costs of healthcare through artificial intelligence. George complements our existing board of directors’ skills and experiences, and will provide valuable perspective as we continue to execute our growth strategies.”

“I’m delighted to be joining the Olive board in its mission to improve operational efficiency in the healthcare system.  By streamlining workflows and reducing administrative errors, Olive’s technologies will help enable more time and resources within hospitals to be directed to what’s most important — patient care,” said George Barrett.

The appointment of George Barrett adds to the momentum the organization has seen in 2018 including a $32.8 million Series D fund raising round and adoption in hospitals and healthcare organizations, large and small, across the United States.

Background on George S. Barrett

Mr. Barrett is the former chairman and chief executive officer of Cardinal Health, Inc., a role he held from August 2009 through end-December 2017, when he was named executive chairman of the board through early November 2018.  

Under Barrett’s leadership, Cardinal Health grew to rank 15th on the Fortune 500 with annual revenue of more than $130 billion and 50,000 employees in nearly 60 countries. During his tenure, the company was recognized as one of Fortune’s World’s Most Admired Companies, Forbes America’s Best Employers, The Wall Street Journal’s Drucker Institute’s Top Companies for Corporate Social Responsibility, National Association for Female Executives’ Top Companies for Executive Women and Chief Executive Magazine’s Top Companies for Talent Development, as well as a number of awards for its public health and philanthropic initiatives.

Barrett is on the boards of Target Corporation, Nationwide Children’s Hospital, Brown University and Children’s Hospitals’ Solutions for Patient Safety. He is vice chair of the board of trustees of The Conference Board and a trustee of the Committee for Economic Development. Additionally, he serves on the National Academy of Medicine’s President’s Advisory Council on Healthy Longevity. Barrett is also a member of the governing committee of The Columbus Foundation, one of the largest community foundations in the United States, as well as participates in leadership positions in other community initiatives in the Columbus area.   

Barrett earned his Bachelor of Arts degree from Brown University and a Master of Business Administration from New York University.  He holds an Honorary Doctor of Humane Letters degree from Long Island University’s Arnold & Marie Schwartz College of Pharmacy and Health Sciences and an Honorary Doctorate in Fine Arts from the Columbus College of Art and & Design.

Olive’s other directors include Chris Olsen, Partner, Drive Capital,  Billy Deitch, Principal, Healthcare, Oak HC/FT,  John Kuelper, Investment Director, Ascension Ventures and Dr. David Agus, Physician and Professor, University of Southern California.

 

ABOUT OLIVE

Olive is a healthcare-specific artificial intelligence and process automation company that empowers healthcare organizations to improve efficiency and patient care while reducing costly administrative errors. Olive acts as the intelligent router between systems and data by automating repetitive, high-volume tasks and workflows, providing true interoperability. Olive is helping some of the nation’s top healthcare and hospital organizations reduce data and billing errors, eliminate denials for no coverage, improve cash collections and more. To learn more, visit www.oliveai.com.