MADISON, Wiscosin—Olli Health announced a $10 million Series A round to expand its artificial intelligence (AI)-powered coding and quality review managed service into a complete end-to-end solution. The funding will support new clinical documentation capabilities that begin at the start of care visit and connect final coding and quality review to optimize reimbursement and compliance. This Series A round is led by Industry Ventures, with participation from Cannage Capital, Equitage Ventures, Tau Ventures and Arkitekt Ventures.
"Home health agencies are struggling with shrinking margins, complex documentation requirements and time-consuming quality review processes that lead to missed revenue and cash-flow challenges," the company said. "Many outsource coding and documentation quality review, but these services remain slow, expensive and error-prone. Olli Health solves this with an AI-powered managed service that pairs AI automation with clinical expertise to deliver coding and quality reviews 4x faster and at half the cost of traditional vendors."
Olli Health said its new clinical documentation solution will guide nurses and therapists through outcome and assessment information set assessments at the point of care with real-time quality checks and coding intelligence.
“Olli Health has shown remarkable traction with its managed coding and quality review service,” said Fanni Fan, partner at Industry Ventures. “Their blend of deep domain knowledge and advanced AI positions Olli as a leader in the future of home
health revenue cycle operations.”