Fuse Oncology Closes Funding Round with Support from Leading Health Systems in the Southern U.S.
Friday, June 9, 2023
GREENSBORO, N.C., June 1, 2023 /PRNewswire/ -- Fuse Oncology, an oncology software solutions company, announces that it has officially closed an oversubscribed Series A. Among the largest contributors were Cone Health Ventures, of Greensboro, N.C., and Northeast Georgia Health Ventures (NGHV), of Gainesville, Ga. Building on its established business traction, Fuse Oncology will use the investments to accelerate 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, which spun out of Cone Health and signed its first revenues in quarter one of 2022, addresses key challenges that face radiation oncology departments for a more efficient revenue cycle by automatically identifying and tracking missing documentation, incomplete tasks and orders, and wrong charges entered.
"Fuse has made phenomenal progress in establishing a foothold in the radiation oncology market, so we are confident in leading the funding round to support the company's growth and help expand the reach of its solutions in additional clinics nationwide," says John Miller, chief investment officer at Cone Health.
Fuse Oncology's S!GNAL technology catches issues before they materialize to drastically improve revenue cycle and clinical staff workflows. By minimizing mistakes in the coding and documentation process, it has uncovered substantial lost revenues for providers. Additional solutions from Fuse address challenges in the patient engagement cycle to reduce average time to treatment.
Stuart Burri, MD, chairman of radiation oncology of the Levine Cancer Institute, president of Southeast Radiation Oncology Group (SERO), and an early investor, continues to support Fuse Oncology and its advancement.
"Fuse's rapid expansion in local radiation oncology centers has changed the way we're thinking about the business," Dr. Burri says. "It's exciting to reimagine a seamless workflow and data experience between radiation oncology departments and the health systems, including across various vendor platforms."
About Fuse Oncology: 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 effort to enable a future where oncology care moves at the speed of patients.
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SOURCE Fuse Oncology, Inc.
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