RAAPID Secures Series A Funding to Advance AI-Powered Healthcare Risk Adjustment
TL;DR
RAAPID secures Series A funding from M12, Microsoft Venture Fund, expanding AI solutions for healthcare risk adjustment.
RAAPID's VisionAI technology converts structured and unstructured data into machine-consumable formats, streamlining risk adjustment processes in healthcare.
RAAPID's AI solution improves patient care by reducing coding errors, enhancing operational efficiency, and optimizing reimbursement for healthcare organizations.
RAAPID's technology can cut chart review time by 60% with 95% coding accuracy, revolutionizing risk adjustment in healthcare.
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Healthcare technology startup RAAPID has secured Series A funding from M12, Microsoft's venture fund, to further develop its artificial intelligence-powered risk adjustment platform. The investment signals growing investor interest in technological solutions that can transform healthcare data management and administrative processes.
RAAPID's proprietary VisionAI technology addresses a critical challenge in healthcare: processing and normalizing unstructured medical data. The company's platform can reduce chart review time by over 60% while maintaining 95% coding accuracy, a significant improvement over current manual processes.
The technology is particularly relevant as more than 70% of medical records exist in unstructured formats, which frequently lead to coding errors and inconsistent reimbursement information. RAAPID's solution integrates with existing electronic health record systems to enhance operational efficiency and improve data analysis.
The platform serves organizations participating in Medicare Advantage, Affordable Care Act programs, Medicare Accountable Care Organizations, and health systems. By converting complex medical data into machine-readable formats, RAAPID enables healthcare providers to more effectively manage prospective risk adjustment and value-based care initiatives.
RAAPID's Founder and CEO Chetan Parikh noted that the Microsoft venture fund's investment validates the company's mission to transform risk adjustment through purpose-built AI technology. The partnership could provide RAAPID access to Microsoft's broader technological ecosystem, potentially accelerating market expansion.
This investment reflects the healthcare technology sector's increasing focus on AI-driven solutions that can optimize administrative processes, reduce errors, and support the growing trend toward value-based care models.
Curated from News Direct
