SmarterDx

SmarterDx is a healthcare technology company that leverages proprietary clinical AI to improve revenue integrity and quality of care for hospitals and health systems. The company's AI solution analyzes over 30,000 data points per patient encounter, including lab results, radiology reports, medications, vital signs, and clinical notes. It then identifies any remaining gaps or inaccuracies in the documentation and coding process, enabling hospitals to safeguard millions in potential revenue leakage and ensure accurate representation of care quality.

SmarterDx's technology is designed to complement existing clinical documentation integrity (CDI) and coding teams, rather than replacing them. By automating the tedious and error-prone tasks of scouring through vast amounts of clinical data, the company's AI presents recommendations and supporting evidence to CDI teams, allowing them to focus on higher-level tasks and leverage their clinical expertise more effectively.

SmarterDx operates on a contingency-based business model, where the company is paid a percentage of the cost savings or new revenue generated for hospitals. On average, SmarterDx identifies USD 2 million in net new annual revenue per 10,000 patient discharges for its clients, which include some of the largest hospitals and health systems across the US. With a 100% client retention rate, a 5:1 return on investment (ROI), and a KLAS client satisfaction score of 98, SmarterDx has rapidly emerged as a leader in the healthcare revenue cycle solutions market.

In May 2024, SmarterDx secured USD 50 million in Series B funding, led by Transformation Capital, with continued investments from Bessemer Venture Partners, Flare Capital Partners, and Floodgate Fund, bringing the company's total funding to USD 71 million. The investment will drive product innovation, new clinical and financial data integrations, and support the company's expansion and scale.