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RapidClaims, a revenue cycle and claims management company for health care providers, raised an $11 million Series A, CEO Dushyant Mishra tells Axios exclusively. 

Why it matters: It's the second RCM-related deal this week.

How it works: New York-based RapidClaims uses AI to help providers improve medical coding accuracy and contain costs.

It offers autonomous coding, clinical documentation improvement for MRIs, CT scans and progress reports, and a tool to analyze claims presubmission to identify and correct errors.

Zoom in: RapidClaims' round is split into two tranches. The first comprises $8 million led by Accel with participation from Together Fund. 

Together Fund led the remaining $3 million tranche, joined by angel investors including MassGeneral Hospital for Children division chief Oscar Benavidez, Scan Health Plan CEO Sachin Jain, and Ankit Jain, Infinitus CEO.

The funding gives the company three to four years of runway, per Mishra.

By the numbers: Its tech integrates with over 15 EHR systems. The platform is implemented in more than 20 specialties, and most customizations are completed within one week, Mishra tells Axios. 

The big picture: Providers are reporting a significant increase in claims denials over the past three years.

In 2023, providers paid more than $25.7 billion in adjudication costs. 

While payers like UnitedHealth, Cigna and Humana have leveraged AI to review (and often deny) health claims en masse, providers are behind the adoption curve. Staffing shortages and incomplete data collection exacerbate the problem. 

The intrigue: Palantir Technologies is suing fellow claims automation startup Guardian and its founders — former Palantir employees — for "brazen trade secret theft."

Palantir's lawsuit alleges Y Combinator-backed Guardian took claims management denial work from its health care division, which represents about 15% of Palantir's commercial business.

State of play: Alongside RapidClaims and Guardian, companies like Claimable and tools like FightHealthInsurance.com have emerged to help providers combat claims denials. 

What they're saying: "Unlike incumbent solutions that require at least 50,000 charts to fine-tune the system, our 'few-shot learning mode' allows for rapid customization,"  Mishra says.

"It's remarkable to see how quickly RapidClaims has scaled in a market as complex as health care, reducing implementation timelines from months to mere weeks," says Accel investor Manasi Shah.

Exclusive: RapidClaims corrals $11M for claim denial prevention

Illustration of a stethoscope tied in knots around binary numbers.

RapidClaims, a revenue cycle and claims management company for health care providers, raised an $11 million Series A, CEO Dushyant Mishra tells Axios exclusively. Why it matters: It&#x27;s the second RCM-related <a class="gtmContentClick" data-vars-link-text="deal this week" data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2025/04/01/notable-systems-snags-12m-series-b" data-vars-content-id="6ed168bb-3d05-4398-9f47-80b18d4d5745" data-vars-headline="Exclusive: RapidClaims corrals $11M for claim denial prevention" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2025/04/01/notable-systems-snags-12m-series-b" target="_self">deal this week</a>.

Exclusive: RapidClaims corrals $11M for claim denial prevention

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