Keebler Health Raises $6M to Automate Risk Adjustment for Healthcare Providers in Value-Based Care Environments

AI platform proven to identify 15-30 percent more disease burden by automating medical records review

/EIN News/ -- DURHAM, N.C., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Keebler Health, which provides the best AI-native risk adjustment platform for healthcare providers, announced today that it has raised a $6M seed round from several investors, including Freestyle Capital, MBX Capital, New Stack Ventures, Underdog Labs, Everywhere VC, Ludlow Ventures, Primordial, the Tweener Fund, the Hustle Fund, Deb Liu, and Bong Koh. The company will use the funds to expand its team and accelerate its product roadmap as demand for its solution accelerates rapidly. This brings Keebler Health’s total funding to date to $7.8M.

Keebler Health's platform reduces the cost and time of medical records review by an order of magnitude while accurately identifying disease burden to optimize reimbursement from payers. Its growth is being driven primarily by the U.S. healthcare system’s move towards Value-Based Care (VBC). In a VBC arrangement, providers take on risk and the costs of patient care in exchange for an annual payment from insurers. Providers are incented to keep patients healthy and out of acute care by focusing on preventive care to catch and manage chronic conditions early, when they are more easily treatable. Accurately assessing and adjusting risk is essential for these practices to thrive. Poor risk adjustment practices can lead to bankruptcy for a practice, and strong risk adjustment can make a practice successful while delivering better patient outcomes.

“Keebler Health is transforming the economics of Value-Based Care with AI that doesn’t just improve efficiency but unlocks new possibilities for providers,” said Jenny Lefcourt, General Partner at Freestyle VC. “As healthcare rapidly shifts toward value-based models, Keebler Health’s technology is poised to be a foundational layer in this transformation. We’re thrilled to support the team in driving this shift.”

Traditionally, providers have relied on staff to manually perform risk adjustment audits on a sample size of 5-10 percent of their patients - all that is practical when using human clinicians. Keebler Health customers are performing risk adjustment on 100 percent of their patients - in near real time review. In head-to-head evaluations, Keebler Health outperforms clinical teams for breadth, speed, and accuracy..

On average, providers that move from manual risk adjustment to Keebler Health identify 15-30 percent more disease burden.

"Keebler's platform can ingest massive amounts of data in almost any form - from handwritten notes to images - and fully process it with AI to find emerging conditions that human clinicians may have missed," said Isaac Park, co-founder and CEO of Keebler Health. "The goal is to reduce provider risk and improve operational performance while improving patient outcomes."

Keebler Health launched its platform in June 2024 and has signed major clients who are more accurately measuring disease burden and optimizing reimbursement without increasing staff.

The Keebler Health team possesses proven technical, operations and clinical talent. Co-founders Park and Andrew Stickney met through friends and learned they both had an interest in health tech. Park's interest was sparked by a personal health issue, while Stickney's stemmed from observation of inefficiencies and expense in the revenue cycle management process. The two teamed up with third co-founder Kevin Hill, a former colleague of Stickney’s and health AI expert with a PhD in Neuroscience, to solve that problem and help providers thrive in VBC environments.

"Reducing administrative burdens for providers is critical for helping the U.S. healthcare system focus on preventive care," said Park. "Keebler Health flags issues, makes recommendations and provides evidence for those recommendations, allowing clinicians to review and make final decisions. Automating this process with AI saves countless hours that providers can then spend with patients."

About Keebler Health
Keebler Health provides the best AI-native risk adjustment platform for healthcare providers, accurately identifying chronic patient conditions and providing clinicians with insights and recommended next steps to keep patients healthy. Keebler Health's LLM-powered platform ingests and reviews massive amounts of patient medical records, flagging issues for clinician review. Keebler Health's tools have been proven to find conditions that clinicians miss, improving risk adjustment accuracy and helping ACOs and Value-Based Care providers thrive. Learn more at keebler.health.

Media contact:
Michelle Faulkner
Big Swing
617-510-6998
michelle@big-swing.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c727af39-7300-4d7e-8b8d-e5853e5ba8ce