San Francisco-based Charta Health raised $55 million in Series B funding for its AI chart review platform, according to a Nov. 10 news release. This round was led by Insight Partners and brings the company’s total funding to $85 million.
The funding will accelerate Charta’s AI research and development and officially launch Charta for Payers and Charta for Providers. Charta for Payers is a suite of products that expands the company’s AI offerings and focuses on improved accuracy and operational efficiency. Charta for Providers checks charts against coding guidelines, payer rules and each organization’s clinical protocols.
Charta’s platforms use AI to check that claims are accurately coded and supported by clinical documentation. For providers, that’s meant to ensure they’re paid correctly; for health plans, the company analyzes documentation to support revenue integrity and compliance in Medicare Advantage and ACA Marketplace plans.
“We came to healthcare as engineers and saw a system where the most important data was locked in documents no one had time to read,” Justin Liu, CEO and co-founder of Charta Health, said in the news release. “Charta unlocks that data. When every chart gets reviewed, accuracy stops being a guess. Payers and providers should agree on the chart before a claim goes out, not fight about it after. That’s how we end the costly cycle of denials and appeals and put billions of dollars back into patient care.”
