SmarterDx Raises $50M in Series B

SmarterDx, a NYC-based company which specialises in clinical AI for revenue integrity and care quality, raised $50M in Series B funding.

The round, which brought total funding to $71m to date, was led by Transformation Capital, with participation from Bessemer Venture Partners, Flare Capital Partners and Floodgate Fund.

The company intends to use the funds to accelerate product innovation, adding new clinical and financial data integrations and refining its proprietary algorithms that identify new revenue and quality opportunities for customers, and market expansion to benefit hospitals and health systems.

Led by CEO Dr. Michael Gao, SmarterDx is a clinical AI company that uses AI to understand each patient’s clinical journey, helping hospitals tell the most accurate and complete story to close their revenue integrity “differential” gap. It has the ability to implement in weeks, ingest more than 30,000 data points per chart, and deliver a risk-free ROI.

Commenting on the news, Michael Gao said: “Our focus has always been empowering clinical documentation integrity and coding teams to capture a more accurate, more complete patient picture and enabling providers to focus on patient care rather than paperwork.”