RAAPID Secures Series A Funding from M12 to Enhance Healthcare AI Technology

In a game-changing announcement, RAAPID, a trailblazer in healthcare artificial intelligence, has revealed its successful Series A fundraising led by M12, Microsoft’s venture capital arm. This investment strategically positions RAAPID to enhance its innovative Neuro-symbolic AI platform, crucial for advancing healthcare risk adjustment methodologies.

The year 2024 marked a historic milestone for RAAPID, evidenced by an astounding 300% surge in revenue. This growth underscores the market's substantial endorsement of RAAPID's state-of-the-art technology, which has enabled the company to forge partnerships with several prominent healthcare providers and plans across the nation. RAAPID's core offering, the VisionAI technology, addresses a significant hurdle in healthcare today: transforming unstructured medical data into valuable insights. With more than 70% of medical records being unstructured when shared beyond EHRs, RAAPID’s AI engine proves essential in converting this intricate information into actionable data for improving patient outcomes.

Chetan Parikh, Founder and CEO of RAAPID, expressed his vision, stating, "Our aim extends beyond conventional risk adjustment. We envision a future where AI significantly enhances the capabilities of healthcare professionals, resulting in improved patient outcomes and more precise reimbursements. The investment from M12 accelerates our mission to revolutionize healthcare through advanced AI technologies."

RAAPID's bespoke Risk Adjustment platform is already making waves in the industry. Key achievements from the platform include:

- Reduction of chart review time by 60% to 80%
- Coding accuracy surpassing 95%
- Increased revenue compliance per member
- Boosting risk capture accuracy by 25%

This cutting-edge platform is HITRUST-certified and distinguishes itself through its Neuro-symbolic AI framework, merging neural networks with an extensive medical knowledge graph comprising over 4 million clinical entities and 50 million connections. This advanced technology facilitates both retrospective and prospective risk adjustment, enabling organizations to uncover and remediate care gaps, thereby positively influencing patient health.

Todd Graham, Managing Partner at M12, indicated the alignment of RAAPID’s innovative solutions with market demands: "Healthcare organizations are increasingly in need of creative strategies to manage risks and improve care in value-based models. RAAPID’s AI-driven approach is perfectly aligned with our investment philosophy. As we support our portfolio companies, we aim to harness Microsoft's extensive resources and knowledge to create profound impacts within the healthcare sphere."

With a leadership team possessing over 25 years in the healthcare technology sector, RAAPID has united forces with experts from leading tech firms, ensuring its clinical AI solutions stay at the forefront of innovation. The endorsement as an M12 portfolio company highlights RAAPID’s stature as a forerunner in healthcare technology advancements.

As the shift toward value-based care gains momentum, RAAPID’s AI-enhanced solutions will play an indispensable role for healthcare organizations striving for improved quality and promptness of care, encompassing every patient's expectations. Armed with new funds, RAAPID is ready to further amplify its contributions to enhancing patient experiences and aiding providers and payers alike.

About RAAPID

RAAPID specializes in AI-driven solutions for healthcare payers, providers, and related organizations. Its cloud-based risk adjustment platform employs neuro-symbolic AI to identify chronic conditions, determine HCC codes, assess risk scores, and analyze population health trends. Serving entities participating in Medicare Advantage, ACA, Medicare ACO, and Medicaid programs, RAAPID is revolutionizing how healthcare manages risk and enhances patient care.

To learn more about RAAPID's innovative approach to risk adjustment, visit www.raapidinc.com.