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This article was originally published in Healthcare Innovation.
A Denver-based startup focused on automating the retrieval of patient medical records has raised $3 million from a group of funds led by FirstMile Ventures.
Credo Founder and CEO Carm Huntress and his Denver-based team plan to use the funding to roll out their digital service, which takes aim at a process that still generates billions of faxed pages annually, slows the delivery of care and creates gaps in the information flow between providers. They have a prominent name in their corner to help them: Aneesh Chopra, the country’s first chief technology officer during the Obama administration and now president of data and analytics platform CareJourney is an advisor to Credo.
Huntress told Healthcare Innovation he isn’t looking for Credo to become a big data aggregator. The company’s goal, he said, is to use various “digital on-ramps” and be more efficient than hospital and physician group staffers or traditional vendors in “chart chasing” and filling out providers’ pictures of their patients. Credo will focus especially on Medicare Advantage and other value-based care providers, charging a flat fee for successful placements of data and then a subscription fee for keeping current those records.
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