AKASA

What AKASA does

AKASA is a private, venture-backed healthcare technology company founded in 2018 and headquartered in South San Francisco that builds generative AI software for hospital revenue cycle management (RCM). Its proprietary AKASA Platform combines healthcare-specific large language models — fine-tuned on 43 million-plus clinical documents and on each customer's own clinical and financial data — with an in-house bench of RCM experts averaging more than 15 years of industry experience. Product surface includes Coding Optimizer and CDI Optimizer (unified as the Prebill Optimization Suite, which reviews 100% of inpatient encounters before billing), AI Advisor (a clinical research assistant for prior authorization, denials, and peer-to-peer preparation), Auth Status, and Claim Status. The platform integrates with Epic and Cerner via standards-based API/EDI and is HIPAA-compliant, SOC 2 Type 2 certified, HITRUST CSF/R2 certified, and aligned with NIST 800-53 and CIS controls on AWS infrastructure.

AKASA serves large U.S. health systems and academic medical centers — Cleveland Clinic, Stanford Health Care, Johns Hopkins Health System, Duke University Health System, Methodist Health System, Nebraska Methodist Health System, and Montage Health, among others — totaling more than 650 hospitals and 6,500 outpatient facilities across all 50 states. The company goes to market through a high-touch enterprise sales motion (30–45 minute RCM-expert-led demos, dedicated Epic/Cerner integration teams, multi-year contracts) and is monetized on an at-risk, performance-based pricing model with no upfront fees: AKASA only invoices after measurable financial improvement is realized, aligning vendor incentives with customer yield, denial reduction, and accuracy outcomes. Reported customer outcomes include a $30M gross yield increase and 86% efficiency improvement at Methodist Health System, a 40% improvement in POA capture at Cleveland Clinic, a 13% decrease in A/R days and 80,000+ claims automated at Montage Health, and a 22% reduction in auth work queue volume. The company has raised approximately $205M in disclosed equity funding across rounds led by Andreessen Horowitz, BOND, Costanoa Ventures, and Coatue.

The company's strategic posture is mid-cycle-led: it is consolidating coding, CDI, prior authorization, and claim status automation onto a single AI-native workflow, deepening EHR integration, and converting flagship academic medical centers into enterprise-wide deployments — most visibly through the Cleveland Clinic partnership, which expanded from coding to enterprise-wide CDI in roughly six months in 2025. AKASA is geographically domestic (United States only) and operates as a remote-friendly organization with hubs in the Bay Area, New York, and Denver, and team members across 29 states.

Name

AKASA

Legal name

AKASA, Inc.

Website

https://akasa.com/

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

AKASA builds generative AI software for hospital revenue cycle management, combining healthcare-specific LLMs trained on 43 million-plus clinical documents with in-house RCM expertise. It serves large U.S. health systems and academic medical centers via at-risk, performance-based multi-year contracts.

Ownership category

akta.pro rank

Product category

Healthcare Revenue Cycle Management Software

NAICS

Computer Systems Design and Related Services (5415), Other Computer Related Services (541519)

SIC

Services-Prepackaged Software (7372), Services-Health Services (8000), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

EHR Extensions, APIs, App Marketplaces & SMART-on-FHIR Apps (HLACAAAN)

akta.pro secondary industries

Payer-Provider Data Exchange (X12, prior auth, claims/clinical attachment) (HLACABAK), EHR Implementation, Optimization, Training & Managed Services (HLACAAAL)

Keywords

• Healthcare revenue cycle management
• Generative AI automation
• Medical coding software
• Clinical documentation integrity
• Prior authorization automation

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Performance-based fees from healthcare AI/automation deployments: AKASA operates on an at-risk, outcome-based pricing model: 'No upfront fees — AKASA only invoices after measurable financial improvement is realized.' Customers pay based on achieved yield, denials reduction, or other measurable RCM KPIs tied to the deployment.
2. Demo / Sales-led enterprise contracts: Revenue is sourced through a 30-45 minute enterprise sales conversation led by an RCM expert; deal structure is contract-based with quoted pricing per health system, not publicly listed.
3. Mid-cycle RCM automation (Coding Optimizer + CDI Optimizer): Primary mid-cycle product offering bundled into the Prebill Optimization Suite; custom-trained GenAI deployed per health system to drive yield, accuracy, and quality outcomes with at-risk pricing.
4. Patient Access automation (Auth Status) and Business Office automation (Claim Status): Ancillary revenue streams from AI/ML-driven prior authorization status checking and claim status automation; priced and bundled as part of broader AKASA authorizations management and claim management product lines.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels8 records

Core offering

AKASA builds a generative AI platform purpose-built for the healthcare revenue cycle, combining healthcare-specific large language models fine-tuned on each health system's own clinical and financial data with an in-house team of RCM experts. The platform powers six solutions — Prebill Optimization Suite (unified coding + CDI), Coding Optimizer, CDI Optimizer, AI Advisor, Auth Status, and Claim Status — that review 100% of inpatient encounters prebill, surface missed codes and documentation gaps, automate prior authorization and claim status workflows, and integrate with Epic and Cerner EHRs.

Product overview

AKASA offers a unified platform-plus-modules architecture for generative AI in the healthcare revenue cycle. The AKASA Platform is the foundational layer that combines proprietary, healthcare-trained generative AI/LLMs with deep revenue cycle expertise and integrates with EHRs such as Epic and Cerner. Built on this platform are six named offerings: the Prebill Optimization Suite (which itself unifies the Coding Optimizer and CDI Optimizer into a single prebill workflow reviewing 100% of inpatient encounters), the standalone AKASA Coding Optimizer and AKASA CDI Optimizer modules, the AKASA AI Advisor research assistant for revenue cycle teams, and two process automation solutions — AKASA Auth Status and AKASA Claim Status — that automate prior authorization and claim status workflows. Together, the platform and these modules address the mid-revenue cycle (coding, CDI) as well as adjacent patient access and business office workflows for hospitals, health systems, and academic medical centers.

Differentiator

Problem solved

Functional benefit

Brands

• AKASA Coding Optimizer™: Generative AI-powered coding solution that reviews coded inpatient encounters and relevant documentation across all service lines to identify missed revenue, quality metrics, and denial/compliance risks.
• AKASA CDI Optimizer™
• AKASA Prebill Optimization Suite
• AKASA AI Advisor
• AKASA Auth Status
• AKASA Claim Status

Products and services

• AKASA Platform Generative AI-powered platform that combines proprietary GenAI/LLMs with deep RCM expertise, trained on 43+ million clinical documents and on each health system's own clinical and financial data, with components for Generative AI, Experts, Integration, Reporting, and Security. Powers all AKASA solutions and supports standards-based integrations with Epic and Cerner EHRs. Sold to enterprise health systems and academic medical centers.
• Prebill Optimization Suite Unified mid-revenue cycle platform that reviews 100% of inpatient encounters prebill using custom-trained GenAI, combining Coding Optimizer and CDI Optimizer into a single integrated workflow that surfaces documentation gaps, missed codes, and quality/compliance opportunities before claims are released. Sold to enterprise hospitals and health systems.
• AKASA Coding Optimizer GenAI-powered coding solution that re-codes every inpatient encounter across all service lines from scratch, identifying missed codes, unsupported codes, sequencing improvements, missed CC/MCCs, denial risks, and quality indicators, with evidence-backed suggestions and confidence scores for coder validation. Sold to enterprise hospitals, health systems, and academic medical centers.
• AKASA CDI Optimizer Generative AI assistant for Clinical Documentation Integrity that analyzes vitals, labs, flow sheets, medications, clinical notes, and other complex multi-modal data to surface documentation gaps and evidence-based clinical queries for CDI specialists, enabling real-time collaboration with coding teams. Sold to enterprise hospitals, health systems, and academic medical centers.
• AKASA AI Advisor Generative AI research assistant for revenue cycle teams that connects to live EHR patient data, helping non-clinical staff surface clinical documentation, summarize records, draft prior authorization letters, and write denial appeal letters with cited answers across prior auth, denials, peer-to-peer prep, and clinical validation use cases. Sold to enterprise hospitals and health systems.
• AKASA Auth Status AI-powered automation, combining machine learning with expert-in-the-loop oversight, that checks the status of prior authorization requests on payer portals, interprets results, and logs status back into the EHR to reduce manual auth follow-ups for patient access teams. Sold to enterprise hospitals and health systems.
• AKASA Claim Status AI-powered claim status automation that proactively checks claim status with payers across portal search options, interprets results, and routes accounts needing intervention to staff work queues, reducing A/R days and removing accounts from staff queues. Sold to enterprise hospitals and health systems.

Quantifiable outcome

• 40% improvement in POA capture at Cleveland Clinic
• +5 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability11 records

Feature8 records

Partnerships

Twelve partnerships are on record, tiered flagship, core and minor.

• Cleveland ClinicflagshipStrategic or Co-development Partner · 13 October 2025Deep, multi-stage strategic partnership. Cleveland Clinic completed the rollout of AKASA's AI coding tool in all U.S. locations over four months, processing tens of thousands of encounters. On Oct 13, 2025, AKASA announced Cleveland Clinic was the first organization to pilot the CDI Optimizer, with deployment planned across all U.S. locations. Co-presenters at HFMA 2025, AHIMA 2025, and ACDIS 2026 Virtual Summit. Cleveland Clinic is processing 100% of its enterprise inpatient volume through AKASA, recognized by HIT Consultant as 'one of the most comprehensive real-world uses of GenAI in healthcare finance.'
• Johns Hopkins Health SystemcoreStrategic or Co-development PartnerCo-developed whitepaper on deploying generative AI and LLMs to improve prior authorization. Joint case study demonstrated reductions in operating costs, enhanced productivity, and revenue improvements — used as a customer reference and thought leadership asset.
• Stanford Health CarecoreStrategic or Co-development PartnerStanford Health Care has been an AKASA customer since 2021 and co-presented at HFMA Western Region Symposium 2025. Uses AKASA's GenAI solutions in patient access to automate repetitive authorization follow-ups while maintaining 90% financial clearance rate. Stanford leaders have publicly endorsed AKASA's tools for productivity and denial reduction.
• Montage HealthcoreStrategic or Co-development PartnerMulti-year collaboration expanding from claim status automation to auth status and additional patient access workflows. Flagship case study published on akasa.com/case-studies/montage-auth-status documenting 13% decrease in A/R days, 300+ hours/month staff time saved, 22% reduction in auth work queue volume, and 80,000+ claims automated in ~1 year.
• Methodist Health SystemcoreStrategic or Co-development PartnerFlagship customer and case study subject. 4 hospitals, 33 clinics, $950M net patient revenue. Deployed AKASA Claim Status with documented results: $30M gross yield increase, 86% efficiency improvement, 71.3% of accounts removed from staff queues, 13.8 FTE production equivalent. Featured in case study, webinar, and resource materials.
• Duke University Health SystemcoreStrategic or Co-development PartnerImplementing AKASA's generative AI solutions to address complex medical coding challenges where a typical patient record spans 50,000 words across 59 documents. Reports improved accuracy and efficiency and plans to expand AI to denial management. Co-presented with Cleveland Clinic and AKASA at AHIMA 2025 panel.
• Nebraska Methodist Health SystemcoreStrategic or Co-development PartnerFeatured AKASA customer producing video case study content on generative AI and coding. Gained $2 million from AI-assisted coding per Healthcare IT News. Director of HIM, Clinical Coding, CDI, and Utilization Management endorsed AKASA Coding Optimizer publicly.
• EpiccoreTechnology or IntegrationStandards-based integration with Epic EHR systems via API/EDI; supported by a dedicated integration team. AKASA is Epic/Cerner-ready, and the Cleveland Clinic, Montage Health, and Methodist Health System deployments all rely on Epic integration.
• CernercoreTechnology or IntegrationStandards-based integration with Cerner EHR systems via API/EDI; supported by a dedicated integration team.
• Amazon Web Services (AWS)coreTechnology or IntegrationCore cloud infrastructure provider; AKASA utilizes AWS infrastructure with CIS Level 1 hardening, ZeroTrust VPN, FIPS 140-2 encryption, and 'Everything as code' infrastructure operations.
• AHIMA (American Health Information Management Association)minorGTM or Marketing PartnerCo-presented conference sessions at AHIMA 2024 and AHIMA 2025; AKASA's Director of Coding Mindy Harris led AHIMA24 conference presentation on 'Why Medical Coding Needs Generative AI.' Cleveland Clinic, Duke University Health System, and AKASA shared experiences at AHIMA 2025 panel.
• HFMA (Healthcare Financial Management Association)coreGTM or Marketing PartnerCo-published 'The Revenue Cycle Intelligence Report' (HFMA + AKASA survey of 500+ healthcare finance leaders); co-hosted panel at HFMA Annual Conference in Denver with Cleveland Clinic leadership; partnered on encore webinar. AKASA leverages HFMA Pulse Survey program for survey research.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Waystar: Public revenue cycle management platform serving US hospitals and health systems across claims management, patient access, and analytics. Directly comparable to AKASA as a horizontal RCM tech stack with overlapping buyer (CFO/Revenue Cycle leaders) and use cases (claim status, prior auth, denials), though AKASA differentiates on GenAI vs. rules-based workflows.
• R1 RCM: End-to-end revenue cycle management solutions provider for hospitals and health systems, now owned by TowerBrook and CD&R after a take-private. Comparable to AKASA in serving large health systems with RCM technology and services, and a primary incumbent competitor in mid-cycle and patient access automation.
• Olive AI: AI-for-healthcare-automation company (now restructuring under Healthcare.GG) that targeted revenue cycle, supply chain, and prior authorization workflows for hospitals. Historically the most direct AI-RCM competitor to AKASA, with overlapping product surface in coding, claim status, and prior auth automation.

Emerging players

• Cohere Health: AI-powered prior authorization platform partnering with health plans and providers to streamline authorization decisions. Comparable to AKASA's Auth Status and AI Advisor use cases on the payer-provider prior authorization workflow, though Cohere is more payer-side oriented.
• Anterior: AI-native company applying large language models to prior authorization and clinical documentation for health plans and providers. Closest emerging direct competitor to AKASA's AI Advisor / Auth Status products with a similar GenAI-first approach to clinical and authorization workflows.
• Infinx: Healthcare revenue cycle company combining AI-driven prior authorization, eligibility, and patient access automation with services. Comparable to AKASA's Auth Status, AI Advisor, and patient access offerings for hospitals and imaging centers.
• Cedar: Patient engagement and billing platform for health systems using AI to personalize patient financial experiences and reduce friction in payments. Adjacent to AKASA on the patient-facing end of the revenue cycle, though focused on patient pay rather than mid-cycle coding/CDI.

Broad incumbents

• Optum (UnitedHealth Group): Broad incumbent in healthcare technology, RCM services, and analytics as part of UnitedHealth Group. Overlaps with AKASA across revenue cycle, prior authorization, and AI-driven documentation, but at much greater scale and as one offering among many in a vertically integrated portfolio.
• Health Catalyst: Data and analytics platform for health systems with adjacent RCM and clinical documentation improvement modules. Comparable to AKASA in selling to enterprise health systems and academic medical centers, though its core strength is analytics rather than GenAI-driven coding/CDI automation.
• Experian Health: Healthcare division of Experian providing identity, eligibility, claims management, and patient access solutions to hospitals and payers. Comparable to AKASA on claim status automation, eligibility verification, and patient access workflows for large health systems.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/akasahealth
• Xx.com/akasahealth

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AKASA