A conversation with RAAPID founder and CEO Chetan Parikh reveals how his company’s purpose-built AI platform is transforming risk adjustment in healthcare. The Series A investment from Microsoft’s M12 venture fund marks a significant milestone in the organization’s mission to accelerate healthcare’s transition to value-based care.
“Our vision is to develop and deploy advanced healthcare AI technologies that empower healthcare workers to deliver quality & affordable care,” Parikh explains. “When medical records are shared outside electronic health record systems, over 70% of the data becomes trapped in unstructured formats, leading to coding errors and compliance risks.”
This solution to the challenge has resonated strongly with the market, driving 300% revenue growth in 2024. By combining its innovative DocumentAI technology with a Neuro-Symbolic AI platform, the company delivers measurable results that empower healthcare organizations to achieve greater accuracy and efficiency.
“We’ve developed a complete risk adjustment ecosystem,” Parikh notes. “Our technology combines neural networks with a clinical knowledge graph containing over 4 million clinical entities and 50 million+ relationships. This allows us to offer both prospective and retrospective solutions that significantly improve coding accuracy and efficiency.”
Organizations implementing the platform report substantial improvements:
- 60% reduction in chart review time
- Greater than 98% coding accuracy
- Up to $3K to $4K in additional appropriate revenue per member
- 25% improvement in risk capture accuracy
Strengthening Market Position Through Microsoft’s Pegasus Program
The Series A investment coincides with the company’s acceptance into Microsoft’s selective Pegasus Program. “Being selected for Microsoft’s Pegasus Program provides us with additional resources to serve our customers,” Parikh says. “This collaboration helps us deliver solutions that address the growing needs of healthcare organizations transitioning to value-based care models.”
The Pegasus Program brings several strategic advantages, including a transactable marketplace offer that allows Microsoft customers to purchase RAAPID’s solutions through the Microsoft Azure Marketplace. This simplifies procurement processes for healthcare organizations already using Microsoft’s cloud infrastructure.
“Working with Microsoft’s venture arm aligns perfectly with our growth strategy,” says Parikh. “The integration with Microsoft Azure helps us deliver enterprise-grade security and scalability to our clients, while our HITRUST certification ensures the highest data protection standards.”
The program provides dedicated Cloud Solutions Architect support for technical optimization and product advancement, along with access to Microsoft’s extensive healthcare expertise and customer network.
Comprehensive Risk Adjustment Solutions
The platform stands out for its comprehensive approach to risk adjustment:
- End-to-end Prospective risk adjustment solutions for pre-visit, point-of-care, and post-visit pre-claim audit
- Retrospective analysis for accurate code capture and audit compliance
- Chase list prioritization with customizable rules
Looking ahead, Parikh emphasizes his commitment to innovation: “This investment and the Pegasus Program enable us to expand our impact on healthcare organizations transitioning to value-based care. By automating complex workflows and improving accuracy, we’re helping create a more efficient healthcare system.”
With Microsoft’s backing, the company continues to advance its mission of transforming healthcare operations through AI technology. For organizations seeking to enhance their risk adjustment capabilities, the RAAPID platform offers a solution backed by measurable results and enterprise-grade security.
