Health Systems Invest in Revenue Cycle Management Vendor CodaMetrix

Health Systems Invest in Revenue Cycle Management Vendor CodaMetrix

AI-based platform was developed at Mass General Brigham to alleviate medical billing challenges. CodaMetrix, a provider of revenue cycle management platforms, has completed a $55 million Series A fundraising round with the participation of various health system investment arms. CodaMetrix claims to be working to increase clinical coding accuracy and decrease revenue leakage. It is currently partnered with ten health systems and academic medical institutes, including Mass General Brigham, University of Colorado Medical, Yale Medicine, and Henry Ford Health Systems. The software-as-a-service platform continually learns from and acts on the clinical data held in electronic health records using machine learning, deep learning, and natural language processing (EHRs). The Boston-based CodaMetrix technology, which categorises codes for radiology, pathology, surgery, gastroenterology, and inpatient professional coding, claims to be the first to have an impact on departments by reducing administrative hassles from invoicing.

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