Taxo Raises $5M to Build Out Autonomous Systems for Healthcare

What You Should Know: 

– Taxo, a company focused on transforming healthcare administration with its AI-powered data extraction and reasoning engine secures $5M in seed funding led by Y Combinator, General Catalyst, and Character, with participation from notable angel investors.

– Taxo aims to free up healthcare professionals to focus on patient care, ultimately improving efficiency and reducing costs across the healthcare ecosystem. Taxo will utilize the funding to further develop its AI platform and expand its team.

AI to Combat Healthcare Inefficiencies

The company aims to address systemic inefficiencies that plague the healthcare industry, forcing healthcare professionals to spend more time on administrative tasks than on patient care. A reliance on manual workflows and unstructured data, such as PDFs and faxes, leads to error-prone, labor-intensive processes that drain resources and cost the industry trillions of dollars annually. This results in reduced service capacity, delayed treatment, and employee burnout.

Taxo’s Proprietary Engine

Taxo is tackling this challenge with its proprietary engine that automates the entire workflow pipeline, from data extraction to advanced reasoning and decision-making. The platform is designed to be fully compliant with HIPAA and SOC2 standards, ensuring data security and privacy. Furthermore, every decision made by Taxo’s engine is explainable, with direct references to source documents, providing transparency and auditability for healthcare organizations.

Dr. Ahmed Kerwan, a practicing physician, experienced firsthand the immense burden of paperwork that detracted from his ability to provide care. Determined to find a solution, he pursued a fellowship at Harvard and MIT to explore the intersection of AI and healthcare. “We are thrilled to work with our legendary investors who have decades of expertise in technology. They understand our mission to dramatically improve efficiencies in healthcare administration,” said Ahmed Kerwan, Founder and CEO of Taxo. “We look forward to bringing Taxo’s AI to governments, hospital systems, and other large organizations who deal with messy healthcare data.”