Medallion, a fast-rising player in healthcare infrastructure, just landed a fresh $43 million funding round to tackle one of the industry’s most expensive inefficiencies: provider credentialing. The round was led by Acrew Capital with participation from Washington Harbour Partners, Sequoia Capital, GV, Spark Capital, and others—bringing Medallion’s total haul to $130 million.
At its core, Medallion wants to rip out the reams of paperwork that plague hospitals and insurers. Its AI platform automates back-office essentials like credentialing, onboarding, enrollment, and compliance—chores that currently drain both dollars and clinician sanity. Today, Medallion manages data for about 1 million providers, or 10% of the U.S. healthcare workforce, a scope that hints at how entrenched the problem really is.
Enter CredAlliance: One Credentialing to Rule Them All
The real headline here isn’t just the funding—it’s CredAlliance, a new clearinghouse designed to stop every insurer from redundantly verifying the same doctor, a process that costs the healthcare system an estimated $1.2 billion a year. Instead, providers are verified once, and the results can be shared across participating payers.
That may sound wonky, but the implications are big: real-time verification, faster onboarding, fewer delays in billing, and ultimately, easier access for patients trying to book an appointment. Several national payers are already live on the platform, with more lining up.
If this model sounds familiar, it is—it’s similar to how financial clearinghouses standardized payments decades ago. Healthcare has lagged in building shared infrastructure, but if CredAlliance takes off, it could quickly become the default layer everyone relies on.
Beyond Paperwork: The AI Push
Medallion’s pitch isn’t just cutting costs; it’s speed. Providers using its system report being onboarded 40 times faster—going from 8 days to under 2 hours. That kind of compression is the difference between a doctor waiting around for bureaucracy to clear and one actually seeing patients.
The company is also leaning heavily into AI: from phone agents that handle credentialing calls to form-mapping tools that digest provider data without human input. With regulatory complexity only climbing and provider shortages mounting, Medallion is selling automation as a pressure valve for an overburdened system.
A Crowded but Ripe Market
Medallion isn’t the first to eye this space. Rivals like Verifiable and CertifyOS have been chasing similar opportunities, often with niche or regional traction. But Medallion’s scale—supporting care access for an estimated 240 million patients nationwide—and its push for a shared credentialing layer may give it a stickier moat.
Venture capital is certainly betting on it. Vishal Lugani, General Partner at Acrew Capital, framed Medallion as the “intelligent infrastructure layer” the healthcare system has been missing. Investors rarely understate their portfolio companies, but given the sector’s inefficiencies, the description might not be hyperbole.
The Road Ahead
With its new war chest, Medallion plans to expand its automation library, build out partnerships with health systems and payers, and scale up CredAlliance participation. If it succeeds, what has long been a fragmented, redundant, and expensive process could finally get the kind of shared infrastructure upgrade the industry has been begging for.
Until then, the $43M vote of confidence suggests one thing: the battle to tame healthcare’s paperwork monster is heating up, and Medallion wants to be the one holding the sword.
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