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SmarterDx Honored as One of Modern Healthcare's Best in Business Winners

In an impressive achievement, SmarterDx has earned recognition from Modern Healthcare as one of the 2024 Best in Business winners in the inaugural Newcomer - Startups category. The award highlights companies that exemplify innovation and excellence within the healthcare sector.

Founded by medical professionals in 2020, SmarterDx has established itself as a frontrunner in clinical artificial intelligence, focusing on revenue integrity and care quality. Their innovative platform analyzes the complete clinical records of hospitalized patients to ensure the most accurate representation of care is recorded. This functionality not only enhances the overall quality of care but significantly impacts hospitals' financial health.

According to the company, their flagship solution, SmarterPrebill™, allows healthcare providers to improve their care quality scores, simultaneously enabling them to recover an average of $2 million in new revenue for every 10,000 patient discharges. As the standard operational margin for hospitals hovers around 1.6%, such revenue recovery could be critical to their sustainability and success.

Michael Gao, MD, the CEO and co-founder of SmarterDx, expressed gratitude for the recognition, stating, “This acknowledgment from Modern Healthcare serves as an incredible honor for our team. It reflects our dedication to enhancing healthcare outcomes by assisting systems in improving their key performance metrics while closing revenue integrity gaps.”

The competition for the Best in Business award was robust, and SmarterDx’s commitment to innovation and exceptional results garnered the attention and admiration of Modern Healthcare's leadership. Dan Peres, the publication's president, commented on the milestone, emphasizing the importance of these organizations in setting new benchmarks for quality and operational excellence within healthcare.

Recent developments at SmarterDx include the launch of SmarterDenials™, an AI-driven solution designed to assist hospitals in tackling the increasing issue of payer denials. This development aligns with the company’s goal of enhancing the efficiency of revenue cycle management in healthcare.

Furthermore, this recognition surfaces following a significant financial milestone for SmarterDx, which recently closed a $50 million Series B funding round led by Transformation Capital. Additional investments from Bessemer Venture Partners, Flare Capital Partners, and Floodgate Fund have increased the company’s total funding to an impressive $71 million. This financial backing exemplifies investor confidence in SmarterDx's potential to transform healthcare with its AI-driven solutions.

As SmarterDx continues to advance its mission to empower hospitals by providing unparalleled insights into patient care records, the future looks bright. The company is dedicated to delivering innovative solutions that not only enhance financial outcomes but also enrich the overall quality of care.

Through their pioneering efforts, SmarterDx is poised to remain at the forefront of the intersection between technology and healthcare, ultimately transforming how institutions manage care delivery and revenue integrity. By leveraging the power of clinical AI, they are ensuring that healthcare providers can uphold a commitment to exceptional patient care while maintaining financial viability.

For further insights into how SmarterDx is revolutionizing the healthcare landscape, visit smarterdx.com.