Fierce Healthcare March 12, 2024
ORLANDO — CodaMetrix, a company that provides automated coding technology for healthcare billing and revenue cycle management, picked up $40 million in fresh funding to build out its AI-based solutions.
Transformation Capital led the financing and existing investors SignalFire and Frist Cressey Ventures also backed the series B round.
The Boston-based startup nabbed $55 million in series A funding in February 2023. In the past year, the startup has added new customers and platform enhancements.
Hamid Tabatabaie, CodaMetrix president and CEO, says he sees big opportunities to use artificial intelligence to tackle manual coding inefficiencies, improve coding quality, reduce costs and alleviate administrative burden on providers.
“Medical coding is one of the most time-consuming, understaffed and inherently error-prone parts of...
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