Candid Health aims to streamline the medical billing process to address the challenges posed by numerous and varied insurance requirements. CEO Nick Perry highlights that claim denials often stem from outdated billing systems inadequately equipped to handle modern complexities. The company’s advances include a sophisticated rules engine for accurate and efficient claims submission, facilitating rapid growth and the attraction of notable telehealth clients. After securing substantial funding, Candid plans to integrate machine learning to further enhance its services in the evolving medical billing landscape.
With over 1,000 insurance companies in the U.S., figuring out how to get paid by each company is a complex challenge for doctors and hospitals.
According to Nick Perry, co-founder and CEO of Candid Health, most medical claim denials result from legacy billing system providers struggling to keep pace with the increasing complexities of modern healthcare.
Perry built the company by drawing on his Palantir experience, where he witnessed the power of data analytics firsthand. Medical billing is ultimately a data engineer problem, he told TechCrunch.
Candid Health claims that it has developed, and continually refines, a sophisticated rules engine that allows providers to submit accurate claims to insurance companies on the first try.
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