KNOXVILLE, Tenn. — The University of Tennessee Research Foundation’s Accelerate Fund is investing $150,000 in an artificial intelligence startup for processing health care claims. The startup, VisualizAI, is focused on “revolutionizing health care claims processing.”
VisualizAI was co-founded by UT Knoxville’s Tickle College of Engineering professor Jian Huang and it’s CEO Mac Bartine. According to UTRF, the company looks to commercialize UT’s AI-driven data visualization and analytics platform.
The company created what they call “ClaimsAgent,” an AI system designed to give health care providers a tool in claims processing. According to UTRF, “ClaimsAgent” can analyze thousands of claims, identifying patterns in denials and underpayments and recommending corrective actions.
“These funding opportunities provided a platform for us to deploy our research in the real world and validate the most compelling use cases,” Huang said in a press release Tuesday. “We’re in an exciting position—our platform has matured and already has pilot customers.”
UTRF said denied and underpaid claims pose a significant challenge in healthcare, impacting providers’ ability to get paid.
“Through AI, ClaimsAgent provides diagnostic, descriptive, prescriptive, and predictive support for health care claims processing,” Huang said. “Artificial intelligence is a powerful ally—doing tedious jobs at a higher volume and more efficiently than staff teams of many health care providers.”
The UTRF Accelerated Fund provides pre-seed and seed investment to support startups that bring the university’s innovations to the market.
“VisualizAI is a great example of how UT-driven research can lead to real-world solutions that improve efficiency, accuracy and outcomes in critical industries like health care,” UT’s System President Randy Boyd said. “We’re proud to support visionary faculty and startups like this through UTRF and the Accelerate Fund as part of our commitment to driving progress across Tennessee and beyond.”
The company is looking to raise a seed round of $500,000 to $1 million to accelerate its growth, according to the UTRF.
Full story: UT invests $150K in AI startup for processing health care claims | wbir.com
