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Basalt Health Raises $20M to Scale Post-Acute AI Transition Platform Across 111 Markets

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Basalt Health Raises $20M to Scale Post-Acute AI Transition Platform Across 111 Markets

Basalt Health , an AI-driven platform automating patient transitions and admissions into post-acute care facilities, raises $20M Series A financing round, bringing its cumulative capital raised to $24.5M.

The financing was led by return investor New Enterprise Associates (NEA) , with continued participation from healthcare venture funds Frist Cressey Ventures (FCV) and 25m Health (the healthcare venture studio of 25madison , backed by Apollo Global Management) .

The technology tackles a massive operational bottleneck: approximately 14 million patients enter post-acute care annually, with hospital case managers traditionally faxing 70-page clinical dossiers to an average of 6.6 facilities per placement, contributing to an estimated $17 billion in avoidable annual readmission expenses.

The platform is scaling across 111 total enterprise markets by the end of 2026, encompassing 49 additional Lifepoint Health markets and 62 hospitals within ScionHealth, where it will process incoming referrals across a network of more than 6,000 clinicians.

Founded in 2024 by CEO Ben Hackett (a former executive at Accolade), Basalt acts as an intelligent automation layer for post-acute intake:

Multi-Modal Referral Ingestion: Automatically ingests and parses incoming referrals regardless of format—whether arriving via legacy fax, secure web portals, or direct EHR interfaces.

Algorithmic Clinical & Payer Matching: Evaluates unstructured patient packets against receiving facility clinical admission criteria, staffing competencies, bed availability, and payer authorization requirements in real time to reach defensible placement decisions.

2 minutes per referral.



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