Charta Health, a provider of an AI-powered platform that optimizes medical billing and coding workflows, announced it raised $8.1 million in seed funding, led by Bain Capital Ventures. Participation came from SV Angel, South Park Commons, SpringRock Ventures, Refract Ventures, and strategic angel investors. With this funding, Charta will expand R&D, grow the team, and further enhance its AI-driven platform.
The current pre-bill chart review process is slow, manual, and inefficient as it requires specialists to comb through thousands of records, resulting in less than 1% of charts actually being reviewed. This leads to missed revenue, unnecessary denials and compliance risks—a problem ripe for AI-driven automation.
By utilizing advanced AI algorithms, Charta Health automates the traditionally manual chart review process, improving accuracy, reducing administrative burden, and optimizing financial performance. The platform’s core features include:
1.) Automated Pre-Bill Review – AI-driven analysis scans every chart before submission, identifying missed coding opportunities that increase RVUs per patient by up to 15.2%. This ensures providers only pay for approved findings, delivering an 11% revenue boost with guaranteed ROI.
2.) AI-Based Denial Prevention – Real-time claim validation detects coding errors and flags potential denials before submission, reducing revenue loss by up to 70%. The system ensures all claims align with payer requirements, streamlining reimbursement.
3.) Customizable Compliance Audits – The platform automatically reviews 100% of pre-bill charts against custom billing and clinical guidelines at just 1% of the traditional audit cost. This eliminates compliance risks and prevents costly clawbacks.
Charta Health was created by Justin Liu and Scott Morris, former engineers at Rockset (acquired by OpenAI). Through experience in developing AI infrastructure at Rockset, Liu and Morris recognized that healthcare was one of the industries most primed for AI adoption. They spent a year earning Certified Professional Coder (CPC) certifications, immersing themselves in medical coding while conducting more than 100 interviews with healthcare leaders to pinpoint the sector’s most pressing challenges.
KEY QUOTES:
“Healthcare’s reimbursement process relies on manual labor, making it less than optimal. AI, especially in chart reviews, offers a significant opportunity to capture lost revenue and reduce administrative burden. AI ensures accurate reimbursements and frees up healthcare professionals to focus on direct patient care, thereby improving overall patient outcomes.”
- Justin Liu, Co-Founder and CEO of Charta Health
“Integrating Charta Health was an easy solution. Their platform seamlessly consolidates diverse clinical and billing data into one intuitive interface that accurately pinpoints missed coding opportunities—boosting provider value and reducing coding errors that could lead to claim denials. Encounter documentation is the backbone of healthcare data, and I’m excited to see a shift that reduces manual effort and lets healthcare professionals focus on what truly matters – care for patients.”
- Dr. Will Sampson, Co-Founder & Chief Learning Officer, Eventus WholeHealth
“Justin and Scott combine deep, technical expertise and first-principles thinking to solve the critical issue of manual chart review. They didn’t just assume AI was the answer—they first immersed themselves in the industry to fully understand the complexities of billing and auditing. This hands-on approach has earned the trust of discerning healthcare professionals, making the Charta team well-suited to meaningfully shape how healthcare organizations save time and improve patient care, while capturing revenue.”
- Aaref Hilaly, partner at Bain Capital Ventures
