Taxo Launches: Automated Medical Billing and Coding

Taxo recently launched!

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^{"AI that converts clinical documentation into payments. In seconds."}‍_‍^‍‍

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^{TL;DR Taxo integrates with electronic health records (EHRs) to automate medical billing and coding. Its AI-powered solution reduces the time and cost of claims processing by over 90%, enabling providers to focus on patient care rather than administrative tasks. Watch the demo here.}

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‍Founded by Ahmed Kerwan

Ahmed Kerwan, a practicing physician, experienced firsthand the immense burden of paperwork that detracted from his ability to provide care. Determined to find a solution, he pursued a fellowship at Harvard to explore the intersection of AI and healthcare.

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Why is this important?

In short, medical billing and coding allow healthcare providers to get paid for their services. However, the way it’s currently done is still largely manual and can take several hours per patient. In 2023, the U.S. healthcare system spent $4.8 trillion, with over 35% of costs attributed to administration, much of which stems from the need to manage vast amounts of unstructured and fragmented data. This situation results in healthcare professionals spending more time on paperwork than on patient care, which reduces service capacity, delays treatment, and drives up costs.

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The solution

Taxo is starting by focusing on prior authorization, which requires the provider to get an agreement from the payer to cover specific treatments or medications. This process currently requires manually going through hundreds—sometimes thousands—of records to extract evidence and prove ‘medical necessity’ to the payer. By leveraging AI, Taxo has been able to reduce the amount of time it takes by 90%. Providers across the US invariably say this has been life-changing for them!

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Moving forward

Prior authorizations are just the beginning. Taxo has already started working with their providers to build for other aspects of the medical billing and coding process: claim denials, insurance verification, patient letters etc. The founders believe humans in healthcare should focus on what they do best, caring for patients, and let AI handle the rest.

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The ask

Medical billing and coding are relevant in all sorts of places. If you know decision-makers in any of these organizations, the founders would be super grateful for an introduction via email!

1. Hospitals
2. Physician offices
3. Nursing homes
4. Outpatient facilities
5. Billing companies
6. Home healthcare services
7. Durable medical goods providers
8. Practice management companies
9. Federal and state government agencies
10. Commercial payers

And tell them not to worry about hallucinations. All Taxo's output is referenced and directly links back to the original patient records!

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Learn More

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^{🌐 Visit www.taxo.ai to learn more.} _‍

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^{🤝 If you know industry decision-makers, please email the founders for an introduction!} 

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👣 Follow Taxo on LinkedIn.}

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