Authsnap, a Michigan based health tech startup dedicated to streamlining denied insurance claim appeals, has received a major boost in its mission to make healthcare access fair and faster. The company recently secured a combined $400,000 in funding from a group of Michigan investors. They received $200K from the Biosciences Research and Commercialization Center (BRCC) at Western Michigan University, $150K from Michigan Rise, and $50K from Red Cedar Ventures.
The Authsnap team aims to raise $600K total to continue advancing their technology.
Fueling Growth and Innovation
This new funding marks a significant milestone for Authsnap as the team ramps up development of its proprietary large language model (LLM). The funds will also support expanded PR and marketing efforts to build awareness of Authsnap’s mission and connect with more healthcare organizations across the country.
“We’re incredibly excited to partner with organizations like BRCC, Michigan Rise, and Red Cedar Ventures,” said Gretchen Heinen, CEO “It’s not just about the funding, it’s about the relationships and collaboration happening here in Michigan. These partnerships are helping us grow faster and make a greater impact.”
From Denied Claims to Approved Care
Authsnap was founded by a team of medical professionals who know firsthand how devastating denied health insurance claims can be. Every denied claim represents a patient potentially left without care, and for many, that can mean the difference between life and death.
By combining medical expertise with advanced technology, Authsnap has created a system that reduces the time it takes to review and appeal a claim from hours to just minutes. Using machine learning, Authsnap’s platform drafts customized appeal letters tailored to each patient’s specific situation. These letters are then reviewed by claim specialists to ensure accuracy before submission.
Authsnap recently launched its minimum viable product (MVP) and is now actively engaging with large hospitals to explore partnership opportunities.
Authsnap Wins Small Towns Big Ideas Pitch Event
Building on the momentum of their recent funding round, Authsnap also won the Center on Rural Innovation’s Small Towns Big Ideas Pitch Event, presenting live at Dartmouth College and taking home first place and $10,000. Congratulations to Gretchen and the entire Authsnap team! Our IMQT team members loved cheering them on from Marquette during our office watch party.
