Participated · Series A · Feb 2023

CodaMetrix offers an AI-driven platform for multi-specialty medical coding with real-time audit capabilities, seamless EHR integration, and a patient-centric longitudinal view of records. Built in partnership with provider organizations, the platform is designed to continuously improve AI learning through feedback loops. It is deployed at more than a dozen provider organizations representing over 200 hospitals and 50,000 providers. Providers using CodaMetrix report a 60% reduction in coding costs, a 70% reduction in claims denials, and a five-week acceleration in time to cash, along with improved provider satisfaction, quality, and compliance. The company targets a roughly $20B annual market for multi-specialty coding and is recognized by KLAS Research as No. 1 in the “Reduce Cost of Care” category. CodaMetrix plans to use new funding to further advance its AI-powered solutions to improve coding quality, produce clinically comprehensive datasets, reduce overall cost of care, and alleviate administrative burden on providers. CodaMetrix provides an AI-powered SaaS platform to support healthcare revenue cycle management and medical coding. Its platform combines machine learning, deep learning, and natural language processing to translate clinical notes automatically and accurately into billing and diagnostic codes, reducing human coding workload. The AI continuously learns from clinical evidence in electronic health records to improve coding efficiency and quality. CodaMetrix is currently partnered with 10 health systems and major academic institutions, including Mass General Brigham, University of Colorado Medicine, Yale Medicine, and Henry Ford Health Systems. It closed a $55M Series A in February 2023 and plans to use the funds to accelerate go-to-market with major provider organizations and health systems. The company is led by President and CEO Hamid Tabatabaie.