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Exceptional Coders | Innovative Technology

$16M Investment Big News for Aviacode and the Healthcare Industry Overall

Posted by Ben Castleberry on Aug 18, 2015 9:20:10 AM

It’s a great day for Aviacode – and the healthcare industry specifically as we all transition to ICD-10!

Today we announced the closing of a $16 million growth investment from Frontier Capital. We plan to use the funds to further develop and market both our network of certified medical coders and our SaaS-based platform to meet the growing demand for solutions that facilitate medical coding and auditing for physician groups, facilities and surgical centers.

This is especially beneficial for these entities as the October 1 deadline for transitioning to ICD-10 quickly approaches. ICD-10 includes more than 140,000 codes—19 times the number of codes in the outdated ICD-9. The new coding system reflects the latest medical knowledge, allows for more specificity in describing conditions and procedures, and is also a step toward the transition to quality and value-based reimbursement models.

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Topics: ICD-10, Investment