New York City’s SmarterDx has achieved a significant milestone with a whopping $50 million in Series B funding, bringing its total funding to date to $71 million.
The funding round was spearheaded by Transformation Capital, with notable participation from Bessemer Venture Partners, Flare Capital Partners, and Floodgate Fund.
With this substantial investment, SmarterDx aims to accelerate its product innovation efforts, focusing on adding new clinical and financial data integrations and refining its proprietary algorithms. These enhancements will enable the identification of new revenue and quality opportunities for customers, thereby benefiting hospitals and health systems.
Led by CEO Dr. Michael Gao, SmarterDx stands out as a clinical AI company specializing in revenue integrity and care quality. Leveraging AI technology, SmarterDx comprehensively understands each patient’s clinical journey, aiding hospitals in accurately documenting patient information to bridge the revenue integrity “differential” gap. The company boasts rapid implementation, the ability to process over 30,000 data points per chart, and delivers a risk-free return on investment.
Dr. Michael Gao emphasized the company’s mission of empowering clinical documentation integrity and coding teams to capture a more accurate and complete patient picture. By enabling providers to focus on patient care rather than paperwork, SmarterDx is poised to make a significant impact in the healthcare industry.
