Innovaccer Inc. announced the asset acquisition of CaduceusHealth to deliver an Autonomous Revenue Cycle. The leading healthcare AI company completed its fifth acquisition with this transaction. This purchase expands the Innovaccer Flow suite into full-stack revenue cycle capabilities. Flow unifies scheduling, patient engagement, and end-to-end revenue cycle management. It creates a single operating layer for ambulatory care.
The industry needs automated help. Data shows healthcare providers lose almost $20 billion annually to avoidable denials. Furthermore, providers never resubmit up to 65% of these denials. CaduceusHealth addresses this problem. Founded in 1997, the company manages billing across thousands of practices. Its American team serves nearly 4,000 providers. It also manages $5 billion in gross patient charges annually.
AI Expansion For Medical Billing
The acquisition brings deep ambulatory expertise directly into the platform. Flow runs on Gravity, which is the healthcare AI infrastructure platform from Innovaccer. Currently, Innovaccer serves over 200 health systems and payers. It also serves 95% of community pharmacies. Its network covers 80 million patient lives in the United States. Major organizations like Orlando Health, Adventist HealthCare, and Banner Health trust Innovaccer.
Leaders express clear optimism about the future of healthcare operations.
“We started Innovaccer with the belief that the people who went into healthcare didn’t sign up for administrative work,” said Abhinav Shashank, CEO and Co-Founder of Innovaccer. “Every hour a billing team spends chasing a denial or reworking a rejected claim is time and money that should be going toward patients. CaduceusHealth has spent nearly three decades building the operational rigor that makes revenue cycle AI actually work, and together we can put that capability in the hands of every provider in this country, regardless of size.”
“In the revenue cycle, the difference between good and great comes down to knowing which payers push back on which codes, shifts in auth requirements, or which denials are worth fighting. We’ve built that knowledge over 30 years. Innovaccer’s AI platform lets us put it to work at a scale no managed services organization could reach on its own. That’s what this combination makes possible,” said Jim Bonomo, Founder and CEO, CaduceusHealth.
“When we started building the Englewood Health Physician Network, we had 50 providers and a $30 million operation,” said Tony Orlando, Chief Financial Officer at Englewood Hospital and Medical Center. “Today, we have grown to more than 700 providers and $240 million in managed revenue. CaduceusHealth was with us every step of that journey. Joining Innovaccer means the next generation of providers won’t have to choose between operational expertise and AI, they’ll have both.”
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News Source: Businesswire.com
