The startup offers an artificial intelligence-powered automation platform that utilizes natural language processing, machine learning, and neural networks to enhance the efficiency and accuracy of medical coding and clinical documentation. By improving charge capture for human coders and auditors, the platform reduces operational costs for healthcare organizations.
Funding
$6.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Healthcare providers face challenges in accurately and efficiently coding medical records and generating claims, leading to revenue leakage and increased operational costs. Manual processes are labor-intensive and prone to errors, while existing revenue cycle management (RCM) software often lacks the advanced AI capabilities needed to fully automate coding and claim generation.
Solution
HANK provides an AI-powered automation platform designed to streamline healthcare revenue cycle management. The platform leverages computer vision, natural language processing (NLP), and machine learning to automate medical coding, document management, and claim generation. HANK's solutions, including AutoCoder, DocuVision, and Claim Maker, can process various data formats, extract relevant information, and generate accurate claims with minimal human interaction. By automating these tasks, HANK reduces labor costs, improves coding accuracy, and maximizes captured payments for healthcare organizations. The platform seamlessly integrates with existing RCM software, augmenting its capabilities with AI-driven automation.
Target Audience
HANK targets healthcare providers, particularly anesthesia practices, and billing companies seeking to automate their revenue cycle management processes, reduce labor costs, and improve coding accuracy.
Features
- **AutoCoder:** Automates coding of anesthesia encounters, surgical CPT, and multi-specialty ICD-10 codes, reducing manual coding efforts by up to 50%.
- **DocuVision:** Converts documents, scans, images, and complex PDFs into machine-readable data using computer vision technology, eliminating manual data entry.
- **Claim Maker:** Manages the entire claim creation lifecycle, including document indexing, reconciliation, and automated data entry, integrating with existing RCM systems.
- **Revenue Integrity Analytics (RIA) Audit:** Identifies instances of revenue leakage by evaluating every medical record through claim payments and collections.
- Supports data feeds (HL7, etc.) and PDFs.
- Generates claims with all line items, codes, modifiers, and responsible providers.
- Provides monthly accuracy reports based on expert coder reviews of automated cases.
- Offers pre-built industry models and custom computer vision model building.