Value-based care platform Credo Health raises $5.25M

The company uses AI to analyze digital medical records for providers

Value-based care ties the amount health care providers earn to the results they deliver for their patients; as such, data is crucial for understanding how those patients fared and if they saw any type of improvement. But that data can be not only hard to come by but also difficult to make actionable. 

Credo Health gives providers have the complete clinical picture of every patient by combining both digital and manual medical record retrieval with AI-driven analysis and human expertise. On Friday the company announced $5.25 million in series seed funding led by FCA Venture Partners led the round with existing investors that include Hannah Grey VC, FirstMile Ventures, and SpringTime Ventures.

Credo launched its core platform, PreDx, nine months ago at the Vive Conference in March, which provides the complete clinical picture for every patient while supporting risk adjustment, quality and health equity.

PreDx is fully integrated into each clinic’s schedule feed and EHR to process the patients well ahead of their appointment and make our results part of the provider’s standard workflow. It retrieves most records and processes them in less than 48 hours, which is usually five to seven days before the provider’s appointment with the patient. For a typical medical advantage member, it retrieves 69 clinical documents and over 1,000 pages of medical history.

The platform has show over $2,000 of new risk adjustment value found per patient, and 10x ROI for its clients by saving administrative staff on average one to two hours per day, while also finding two to three additional untreated conditions per patient.

Credo Health recently unveiled a partnership with Vim, a middleware platform for healthcare that unlocks access to provider Electronic Health Record (EHR) workflow, to enhance integration with AI-powered medical retrieval and analysis.

"This investment is a testament to our commitment to fully support providers with the technology they need to succeed in value based care," Credo founder and CEO Carm Huntress said in a statement.

"It's clear that value based care providers need a technology partner that not only empowers providers to deliver the highest quality patient care, but also one that ensures accurate, up to date risk adjustment and quality information that meets the latest regulatory guidelines."

(Image source: credohealth.com)