What you could know:

– Candid Well being, the modern income cycle automation platform designed for healthcare suppliers, raises $29 million in a Sequence B funding spherical led by 8VC, with participation from present traders First Spherical Capital, BoxGroup and Y Combinator.

– This newest funding brings the corporate’s whole funding to $47 million.

Simplifying Medical Billing, Empowering Suppliers

Candid Well being strives to simplify the complicated and infrequently irritating technique of medical billing, so suppliers can focus their time and vitality on delivering distinctive affected person care. At this time’s U.S. healthcare system, with its a number of payers and ever-changing necessities, ends in a staggering $280 billion in annual prices. Handbook billing processes are gradual, error-prone, and ripe for automation.

Rework invoicing with automation

Conventional applied sciences have struggled to adapt to the dynamic regulatory panorama and the complexity of the claims cycle. Candid Well being’s superior platform makes use of automation to revolutionize the complete billing course of, from preliminary declare submission to accounts receivable administration. This eliminates guide intervention and allows the system to robotically right claims, guaranteeing accuracy and effectivity.

Tangible outcomes for patrons

The affect of Candid Well being’s platform is clear within the success of its 150+ purchasers. Excessive performing purchasers constantly obtain outstanding first move decision and internet assortment charges of 95-99%, guaranteeing correct funds the primary time.

“Most medical billing corporations deal with resolving points extra effectively after claims are submitted, however we flip the mannequin on its head. We deal with submitting claims appropriately the primary time, so there are not any points to resolve,” mentioned Nick Perry, CEO and co-founder of Candid Well being. “We reimagined medical billing from the bottom as much as automate complexity, guaranteeing suppliers receives a commission on time and at a decrease price.”