KODE Health Raises $27 Million in Series B Funding to Revolutionize Medical Coding Industry

KODE Health, a leading on-demand medical coding platform, has successfully secured $27 million in Series B funding, with Noro-Moseley Partners leading the investment round. The funding round also saw participation from Mercury, FCA Venture Partners, Epsilon Innovation Fund, and 111 West Capital.

The latest capital infusion will fuel KODE's expansion of its network of certified coding professionals and bolster the development of AI-driven tools aimed at enhancing hospitals' and providers' ability to adapt to workflow fluctuations and streamline coding operations. KODE's disruptive approach aims to address the inefficiencies and bottlenecks prevalent in traditional medical coding services. The healthcare industry's increasing administrative costs, accounting for 15 to 30% of total U.S. healthcare expenditures, underscore the critical need for innovative solutions like KODE.

Founded by industry veterans Brian Dessoy and Brad Sawdon in 2021, KODE serves as a pivotal link connecting healthcare providers with a vast community of certified coding professionals across the U.S., empowering coders while delivering value to health systems. The platform's integration of AI technology with a human-centric approach is reshaping the healthcare administrative landscape, driving better outcomes for revenue cycle leaders and coding professionals.

The funding will also facilitate KODE's expansion beyond staffing services, focusing on developing AI and predictive analytics solutions to further revolutionize revenue cycle management.

KODE's impressive growth trajectory, encompassing the coding of over a quarter million medical records monthly and a customer base of over 5,500 certified coding professionals, signifies its impactful presence in the industry. With consistent operational profitability and a track record of coding over 8 million medical records to date, KODE has positioned itself as a trailblazer in healthcare operations transformation.

The backing from prominent investors and partners underscores the industry recognition of KODE's mission to drive efficiencies, cost savings, and dynamic marketplace solutions for medical coding professionals and hospital systems. KODE's commitment to leveraging AI and predictive analytics to reshape coding costs and revenue cycle management has garnered strong support from investors, emphasizing the significant impact of its Kode Management platform and Koder marketplace in revolutionizing healthcare operations.

KODE's innovative approach and dedication to optimizing health systems' revenue cycle solidify its position as a frontrunner in transforming the medical coding paradigm.

Source: Business Wire