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NEWLY LAUNCHED CREDO RAISES $3M TO GATHER MEDICAL CHARTS FOR PROVIDERS

The Denver-based startup launched out of stealth on Monday and aims to reduce
“chart chasing.”
Written by Jeff Rumage
March 7, 2022Updated: March 8, 2022


Credo CEO Carm Huntress. | Photo: Credo

Although many health records have been digitized, medical providers are still
wasting precious hours chasing patient records from providers that don’t use the
same medical records platform. 

Denver-based healthtech veteran Carm Huntress is out to solve that problem and
digitize the 15 billion medical records that are faxed each year in the U.S. The
retrieval of patient records, sometimes known as “chart chasing,” not only
wastes the valuable time of doctors and nurses, Huntress said, but it also
causes delays in care. It also causes 30 percent of tests to be reordered
because records cannot be found.

On Monday, Huntress announced the launch of Credo, which digitizes and automates
the retrieval of medical records through robotic process automation. The startup
is launching out of stealth with $3 million in seed funding. 

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Huntress is best known for launching RxRevu, a tool that allows healthcare
providers to see the price of medications before they write a prescription. The
startup has raised $35 million in venture capital to date.

Huntress also worked with Aneesh Chopra, the first United States CTO, to develop
the Fast Healthcare Interoperability Resources standard for exchanging
healthcare information electronically.

Credo is made possible through the 21st Century Cures Act, which allows patients
to access their health data and share it with third parties in a
machine-readable format.

“That’s the big change that really has come to be over the last five to 10
years,” Huntress said of the 21st Century Cures Act. “We can now go out through
those patient portals and other access points to get this data collected on
behalf of our provider clients that need it to take care of their patients.”

When a new patient comes to a health provider, Credo is able to consensually
gather that patient’s records, including those on other medical records
platforms. In some cases, Credo may have to resort to the traditional process of
calling and requesting a faxed copy of a patient record, but Huntress said he
hopes to automate and digitize as much of the process as possible.

“This is a B2B2C, where we’re going through providers who need the data to take
care of the patient, and then engaging with the patient to do it,” Huntress
said. “At the end of the process, we make sure the patient still has access to
all their data.”

The $3 million seed funding round was led by FirstMile and included
participation from Hannah Grey Ventures, SpringTime Ventures and Headwater
Ventures.     

Credo currently has six employees, but Huntress expects the team to double in
size by the end of the year. 

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