KAID Health Raises $4.25M for AI-Powered Provider/Payer Full Graph Analytics Platform
What you should know:
KAID Health, maker of an artificial intelligence-based clinical analytics and supplier engagement platform, today announced its Series A funding of $4.25 million, bringing its total capital raised to 6 .45 million dollars.
– The funding will fuel the growth of the provider/payer platform that integrates with electronic medical records (EMRs) to identify high-value tactical care and coding interventions. The company will also expand its Boston, Massachusetts office and hire new members in a variety of positions.
Drive actionable, cost-effective, payer/provider collaboration
KAID Health enables providers to benefit from the delivery of better informed coordinated care. Its natural language processing-centric Whole Chart Analysis solution integrates with the electronic medical record (EMR) to identify high-value tactical care and coding interventions. Its Whole Chart Analysis platform extracts all relevant data from EMRs, including structured data and text, using artificial intelligence and natural language processing. The solution identifies the patient care interventions providers need to achieve their clinical, financial, or operational goals. At the same time, KAID Health extends a holistic view of member health to payers by combining claims and EMR data.
The solution integrates the identified gaps into the supplier’s workflow, allowing them to easily intervene appropriately. At the same time, the system can financially reward contractors for timely completion of assigned tasks.
Today, KAID Health’s technology is used for a wide variety of use cases in an array of clinical settings. For example, KAID Health improves the accuracy and completeness of Medicare Advantage coding in a large multi-specialty group. The platform helps automate quality metrics reporting for primary care providers. The same solution streamlines chart review for pre-authorization and identifies preoperative risk factors at a large academic medical center. KAID Health will strengthen its market footprint among providers while strengthening collaboration between providers and health plans, payers, and responsible care organization partners.
“KAID Health solves three fundamental problems facing providers and payers today. First, how to make clinicians more effective. Second, how to translate this efficiency into more cost-effective care. And finally, how to increase provider and payer revenue to capture this newly created value,” explained Kevin Agatstein, Founder and CEO of KAID Health. “By finding the right intervention and simplifying the way work is done, KAID Health saves clinicians time, reduces waste and ensures that all care is paid for appropriately. Built in collaboration with provider organizations forefront, we have already created more than 10 times the return on investment for our customers.”