BOSTON--(BUSINESS WIRE)--KAID Health, makers of the artificial intelligence-enabled Whole Chart Analysis platform, announced today significant new funding from Activate Venture Partners, Martinson Ventures, Boston Millennia Partners, Brandon Hull, and KAID Health's Board of Directors. This latest investment brings KAID Health's total capital raised to $9 million.
KAID Health allows all types of value-based care providers to profit from delivering more informed, coordinated care. Its natural language processing (NLP)-centric Whole Chart Analysis solution integrates all EMR data, including conditions, medications, and lab values, with insights automatically distilled from medical notes. Unlike other NLP solutions, which only extract select elements from medical notes to support a specific workflow, KAID Health uses the latest language models to collect all patient data. KAID has proven in both commercial settings and peer-reviewed medical literature that it markedly improves coding accuracy and capture, quality reporting, and care management. Simply, with KAID Health, providers get better financial and clinical results while reducing the burden on their providers and support staff.
"KAID Health continues to deploy technology that makes clinicians more efficient, translates that efficiency into more cost-effective care, and grows revenues," explained Kevin Agatstein, CEO of KAID Health. "By combining best-in-class, scalable, flexible, secure technology with deep clinical workflow and market expertise, we can partner with each customer to meet their informatics needs while alleviating chronic staff shortages."
Today, KAID Health improves Medicare Advantage coding accuracy and completeness at large provider groups across the U.S. while simplifying their quality reporting. The same solution streamlines chart review for prior authorization and clinical trial enrollment, and has been proven to outperform physicians in identifying surgical risks at a large medical center.
"KAID Health continues to demonstrate transformative, immediate returns on investment for its customers while building a leading reputation for the effective application of AI," said Todd Pietri, KAID Health's board member and lead investor. He continued, "While we believe AI in general to be transformative technology, its value is only unlocked by leading, deeply knowledgeable innovators like KAID Health."
With its new funding, KAID Health will bolster its market footprint among providers and their payer partners and allow for significant service expansion.
About KAID Health
KAID Health makes care delivery more efficient, effective and profitable for providers and their payers and Accountable Care Organization partners. Its Whole Chart Analysis™ platform extracts all relevant data from electronic medical records, including structured data and text. The solution identifies the patient care interventions needed for providers to achieve their clinical, financial or operational objectives. In parallel, KAID Health extends to payers a comprehensive view of members’ health by combining claims and EMR data. Today, KAID Health’s technology is used by leading providers, health systems, academic medical centers and payers to automate a variety of workflows, including coding accuracy, quality measurement, prior authorization support and preoperative assessment.