What You Should Know:
– AKASA (formerly known as Alpha Health), a South San Francisco, CA-based Unified Automation™ company for revenue cycle management in healthcare, announced it has raised $60 million in its series B round of funding.
– Founded in 2018, AKASA uses the same machine learning approaches that made driverless cars possible to provide health systems with a single solution for automating revenue cycle operations. AKASA’s unique expert-in-the-loop approach combines modern machine-learning with human judgment and subject matter expertise to provide robust and resilient automation. Unified Automation™ adapts to the highly dynamic nature of revenue cycle operations and has been purpose-built for healthcare. AKASA enables health systems to decrease their cost to collect so they can invest more in patient care and be better stewards of the healthcare dollar.
– AKASA’s models and algorithms have been trained on more than 178 million claims and remittances. AKASA uses HIPAA and HITRUST compliant web and cloud services. The company follows National Institute of Standards (NIST) 800-53 at the moderate level and its BitSight rating of 812 makes AKASA an industry leader in security practices. Data is encrypted in transit and at rest. The company can work with all electronic health record systems and supports various connection methods.
– The funding will enable the company to invest in high-caliber talent across the organization; scale operations to meet rapidly growing customer demand; continue to accelerate delivery of products to customers, and further invest in sales and marketing to expand market presence.