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Codametrix
Computer assisted coding to improve the cost efficiency and speed of medical billing through a combination of workflow and code prediction using NLP
About Codametrix
CodaMetrix is a technology startup that operates in the healthcare sector, specifically in the area of medical coding. The company has developed an Artificial Intelligence (AI) platform that automates the process of translating clinical information into accurate sets of medical codes. This is a crucial process in healthcare as it affects patient care and revenue cycle processes.
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The platform is designed to serve healthcare providers, including physicians and medical coders. It is particularly beneficial for those who are struggling with existing Computer Assisted Coding (CAC) and rules-based Natural Language Processing (NLP) solutions.
The business model of CodaMetrix is based on providing a service that reduces the administrative burden on healthcare providers. The company's AI platform can autonomously code up to 70% of cases, resulting in a 60-70% reduction in manual coding. This leads to a 5X faster turnaround time, a 60% reduction in coding denials, and a 30% savings on coding costs.
The platform is also designed to learn and improve over time. As more users are added and more data is ingested, the AI model is able to learn more about how and when to apply certain codes. This makes the platform adaptable to a range of different medical categories and specialties.
In terms of revenue, CodaMetrix likely makes money by charging healthcare providers a fee for using its platform. The exact pricing model is not specified, but it could be based on a subscription model or a per-use fee.
At a glance
- Founded
- 2018
- Headquarters
- Boston, United States
- Sector
- Health Tech & Medtech
- Power Law
- Colt$25–100M revenue
Latest news
Press, funding announcements and product moves mentioning Codametrix.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series A6 investors entered at this stage
SignalFire
Martin Ventures
CU Healthcare Innovation Fund
Frist Cressey Ventures
Mass General Brigham Ventures
Transformation Capital
Series B and later1 investor entered at this stage
- TCTransformation Capital
Source: Dealroom Talent Intelligence.
Global footprint
team presence
across markets
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