Fuse Oncology, a Greensboro, N.C.-based oncology software solutions company, successfully closed an oversubscribed Series A funding round.
The round saw significant contributions from Cone Health Ventures and Northeast Georgia Health Ventures (NGHV).
The investments will be used to accelerate the expansion of its first commercial product, S!GNAL, and develop additional solutions in the radiation oncology market.
"As we continue to expand our reach throughout 2023, we are grateful for the interest and enthusiasm of investors who understand the significant impact of our product and our potential to thrive in the market," says James Bauler, chief executive officer of Fuse Oncology. "These key strategic partners trust in our clinician-built technology that will make rad onc departments more efficient, supporting substantial growth in volumes and revenues."
Fuse Oncology emerged as a spin-off from Cone Health and achieved its first revenue in the first quarter of 2022. The company aims to address key challenges faced by radiation oncology departments, specifically in streamlining the revenue cycle.
Their S!GNAL technology automatically identifies and tracks missing documentation, incomplete tasks and orders, and incorrect charges, effectively minimizing errors and improving revenue cycle and clinical staff workflows.
By reducing mistakes in coding and documentation, Fuse Oncology has already helped providers uncover substantial lost revenues. Additionally, Fuse Oncology offers solutions that address challenges in the patient engagement cycle, aiming to reduce the average time to treatment.
Company: Fuse Oncology, Inc.
Round: Series A
Funding Month: June 2023
Lead Investors: Cone Health Ventures and Northeast Georgia Health Ventures (NGHV)
Company Website: https://www.fuseonc.com/
Software Category: Oncology Software Solutions
About the Company: Fuse Oncology delivers SaaS solutions that break down healthcare workflow and data silos to create a seamless experience for clinicians in radiation oncology. By placing the broader electronic medical record system at the center of the architecture, Fuse eliminates duplicative and inefficient efforts to enable a future where oncology care moves at the speed of patients.