4 days ago
Healthcare focused startup Arintra raises $21 million in funding round led by Peak XV Partners
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GenAI-native autonomous medical coding platform Arintra , headquartered in Texas, has raised $21 million in its Series A round of fundraising, which was led by Peak XV Partners The round also saw Endeavor Health Ventures, Y Combinator, Counterpart Ventures, Spider Capital, Ten13, and others in 2020 by Nitesh Shroff and Preeti Bhargava, Arintra builds an artificial intelligence(AI)-based system that automatically codes patient charts within hospital's electronic health records (EHRs).It helps health systems capture payments accurately by reducing coding errors, missed charges, and payment delays.'At Arintra, we bring together autonomous medical coding, clinical documentation improvement, and denial prevention in a single platform,' said Bhargava, who is also the CTO of Arintra, in a media release.'By helping providers document what was done, code what was documented, and properly support what was charged, we enable them to secure full, compliant reimbursement at a lower cost, with fewer delays and significantly less manual effort,' Bhargava company said the funds will be used to accelerate product development, scale its team, and open a new headquarters in the Bay Area (California) to meet rising demand as it expands across health systems and physician company claimed it has processed over $1 billion in healthcare charges and helped hospitals recover millions in lost revenue. At Mercyhealth, it reported a 5.1% revenue increase, a 43% drop in claim denials with work queues cleared in half the time, and coding costs cut by about is an integrated, non-profit healthcare system serving hospitals, clinics, and providing health insurance addition to cutting expenses, Arintra integrates with EHR systems such as Epic and Athena using an enterprise SaaS model.'Reimbursement in healthcare is fundamentally broken. Payers are moving fast, using policy and technology to shift more of the burden onto providers, but autonomous coding hasn't kept up,' said Shroff.
