Latest news with #SmarterDx
Yahoo
23-05-2025
- Business
- Yahoo
New Mountain combines portfolio companies to launch AI revenue cycle firm
This story was originally published on Healthcare Dive. To receive daily news and insights, subscribe to our free daily Healthcare Dive newsletter. New Mountain Capital is combining three of its portfolio companies to create an artificial intelligence-backed revenue cycle management firm called Smarter Technologies, the private equity firm said Monday. The deal merges three companies that received investments from New Mountain this year: Access Healthcare, a revenue cycle management platform; SmarterDx, which uses AI to analyze charts to catch missed billing codes and appeal denied claims; and a company that uses AI agents to handle tasks like checking insurance eligibility, managing prior authorizations and processing claims. Jeremy Delinsky, former chief technology officer at health IT firm Athenahealth and an executive advisor to New Mountain, will serve as CEO of the combined company. Smarter Technologies will serve more than 200 clients, including more than 60 hospitals and health systems, according to a press release. The combined firm is expected to generate more than $800 million in revenue. Individual leaders across each of the three companies will continue to oversee their business units, New Mountain said. The deal aims to offer a 'comprehensive' platform for making health systems' administrative work for managing revenue and billing more efficient, the private equity firm said. AI has become an alluring technology across the healthcare sector, igniting hopes it could alleviate some of the industry's administrative and back-office tasks. 'We recognize that healthcare provider organizations are confronted with growing administrative and operational challenges, and they need a new kind of flexible revenue management platform that brings together the most proven AI technologies with the lowest cost to serve, highest quality global operations platform at scale,' Delinsky said in a statement. The latest rollup by New Mountain comes months after the private equity firm merged some of its other healthcare investments into a new payment accuracy company. In September, the private equity firm said it was combining The Rawlings Group, an analytics firm that finds third parties responsible for paying medical claims, the payment integrity platform of health tech provider Apixio and overpayment identification firm Varis. Then, early this year, New Mountain acquired AI-backed healthcare payments company Machinify to add to the combined firm, which took on the Machinify brand. Healthcare technology has also recently become an increased focus for private equity investors. The value of private equity and venture capital deals in health tech has grown about 50% year over year in 2024, according to a report published last month by S&P Global Market Intelligence. Recommended Reading New Mountain merges Rawlings, Varis, Apixio assets to form payment accuracy firm Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
20-05-2025
- Business
- Business Wire
Smarter Technologies Launches the Industry's First AI-Powered Revenue Management Automation and Insights Platform
DALLAS--(BUSINESS WIRE)-- Smarter Technologies, the automation and insights platform for healthcare efficiency, today announced the launch of the industry's first AI-powered revenue management platform that helps hospitals and health systems optimize administrative workflows and strengthen financial performance. The platform brings together Access Healthcare, SmarterDx and three companies that recently received strategic growth investments from New Mountain Capital, LLC ("New Mountain Capital"), a leading growth investment firm with more than $55 billion in assets under management. Access Healthcare is the leading revenue cycle management (RCM) operations and services company that partners with many of the largest U.S.-based healthcare organizations. SmarterDx is the leading provider of proprietary clinical AI for revenue integrity and is the leading AI-powered business and revenue cycle automation platform. "...helps our clients address the billions in annual administrative inefficiencies in healthcare, giving them more time and resources to focus on improving care for patients." Share All together, Smarter Technologies will now have more than 27,000 employees and 24 global service centers serving more than 200 clients, and over 60 hospitals and health systems. Smarter Technologies supports more than 500,000 providers, processes more than 400 million transactions and manages over $200 billion in combined revenue annually. A McKinsey study found that hospitals and health systems spend over $250 billion annually on costs associated with billing and collections, involving significant errors and inefficiencies. An American Hospital Association survey found that 50% of hospitals and health systems reported having more than $100 million in accounts receivable for claims that were older than six months. The time taken by commercial payers to process and pay hospital claims from the date of submission has increased by almost 20%. Smarter Technologies is the first major company to address these growing inefficiencies by applying a new modular platform that combines agentic AI agents with scaled human-in-loop delivery capabilities and clinically driven billing algorithms in order to optimize and automate revenue management workflows across healthcare organizations' operations. Smarter Technologies is uniquely positioned to rapidly accelerate healthcare organizations' shift to a more automated, accurate healthcare payment reconciliation model. The company will benefit from SmarterDx's and revenue integrity and quality platforms and highly accomplished teams of industry leaders, developers, data scientists and AI experts, in addition to Access Healthcare's leading RCM service capabilities. Jeremy Delinsky, former CTO of athenahealth, founding COO of Devoted Health and Executive Advisor at New Mountain Capital, will serve as CEO of Smarter Technologies. 'We recognize that healthcare provider organizations are confronted with growing administrative and operational challenges, and they need a new kind of flexible revenue management platform that brings together the most proven AI technologies with the lowest cost to serve, highest quality global operations platform at scale,' said Delinsky. 'Smarter Technologies addresses this need by providing a cost-effective Services as Software offering that helps our clients address the billions in annual administrative inefficiencies in healthcare, giving them more time and resources to focus on improving care for patients.' The combined company's accomplished team of industry leaders and operators, developers, data scientists and AI experts will look to streamline provider operations by focusing on modular solutions that reduce cost-to-collect, and drive operational efficiency and scale to deliver ROI from day one for clients. Smarter Technologies' initial core offerings and platforms include: Smarter Technologies Offerings: Smarteraccess: modular RCM service designed for hospitals, health systems and industry partners, combining proprietary virtual agents augmented with leading human operators to manage the complexity of healthcare. With AI that continuously learns and adapts, Smarteraccess delivers higher quality, faster outcomes across the entire RCM workflow leveraging our Nebula, Overwatch, and Spotlight Platforms with no software to install or staff training, client teams can begin with one workflow or dozens to meet organizational needs. SmarterDx: an advanced insights engine that uses proprietary agentic AI, machine learning, and over 2,200 custom algorithms to surface new revenue and quality opportunities. It transforms complex clinical data into fully attributable, actionable insights—enabling more accurate documentation and coding while freeing providers to focus on care, not paperwork. SmarterDx delivers an average of $2 million in net new annual revenue per 10,000 patient discharges for clients, providing a day one, 5:1 ROI to over 40 leading health systems spanning 180 hospital sites leveraging the clinical AI offering. provides organizations with select complex medical billing specialties with a comprehensive and flexible SaaS RCM solution—leverages proprietary agentic agents, natural language processing (NLP), optical character recognition (OCR) and machine learning (ML) as well as advanced AI that adapts and learns from each interaction, to address all key RCM functions of a provider organization. Smarter Technologies Platforms: Nebula: Agentic AI Platform for Workflow Automation A first-of-its-kind agentic AI platform specifically designed for the complexity of RCM, Nebula deploys and trains purpose-built virtual agents that can automate the resolution of up to 70% of revenue cycle tasks. AI reasoning is grounded in deterministic workflows that model an organization's policies and procedures to ensure quality, compliance, and the ability to adjust on the fly to unexpected payer responses. These virtual agents are customized to customer workflow standards but also benefit from learnings across the entire network of virtual workers performing tasks within the same payer systems and RCM software platforms. Backlogs never develop even if volumes spike, because parallelized agents provide unlimited throughput capacity. Overwatch: Highest Quality, Lowest Cost-to-Serve Global Workforce Platform The industry's most efficient and scalable global RCM operations model. Overwatch helps healthcare organizations reduce costs, boost operational efficiency, and improve the patient experience. Today, Overwatch supports over 130 clients, 500,000 providers, and processes over 400 million transactions representing over $120 billion in managed revenue annually. All work is 100% quality assured against customer workflow specifications, eliminating patient friction and lost collections, while allowing for quality guarantees of 99%. Spotlight: AI-powered Clinical Insights and Algorithms Spotlight is a machine learning platform that is purpose built for the complexity of healthcare payment systems, which are increasingly using clinical data to augment adjudication of claims payments. Models are assessed and refined by a team of clinical experts for accuracy and effectiveness and are constantly deployed to the existing platform. While focusing initially on pre-bill opportunities within CDI, Spotlight can be deployed against any stage of the revenue cycle to optimize collections. 'Under a unified brand and leadership team, Smarter Technologies will leverage both human-in-the-loop administrative and clinical AI technologies combined with scaled global business process operational capabilities into one platform that automates hospitals' existing revenue management workflows and delivers immediate ROI,' said Matt Holt, Managing Director and President, Private Equity, at New Mountain Capital. 'Smarter Technologies represents New Mountain Capital's latest major platform company focused on radical modernization of the U.S. healthcare sector leveraging modern digital tools and data, at scale.' For more information about Smarter Technologies visit our website or social media channels LinkedIn and YouTube. About Smarter Technologies Smarter Technologies, the automation and insights platform for healthcare efficiency, is a leading AI-powered revenue management platform that combines proprietary clinical agents, human-in-the-loop AI Agents, clinical ontology and global financial and administrative services that allows healthcare organizations the flexibility to automate the entirety of their administrative and financial workflows to optimize operational outcomes and drive better patient experiences. For more information, visit: About New Mountain Capital New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with over $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, visit:
Yahoo
19-05-2025
- Business
- Yahoo
Smarter Technologies Launches the Industry's First AI-Powered Revenue Management Automation and Insights Platform
New company to create the industry's first flexible platform to automate hospital and health systems' administrative workflows and strengthen financial performance DALLAS, May 19, 2025--(BUSINESS WIRE)--Smarter Technologies, the automation and insights platform for healthcare efficiency, today announced the launch of the industry's first AI-powered revenue management platform that helps hospitals and health systems optimize administrative workflows and strengthen financial performance. The platform brings together Access Healthcare, SmarterDx and three companies that recently received strategic growth investments from New Mountain Capital, LLC ("New Mountain Capital"), a leading growth investment firm with more than $55 billion in assets under management. Access Healthcare is the leading revenue cycle management (RCM) operations and services company that partners with many of the largest U.S.-based healthcare organizations. SmarterDx is the leading provider of proprietary clinical AI for revenue integrity and is the leading AI-powered business and revenue cycle automation platform. All together, Smarter Technologies will now have more than 27,000 employees and 24 global service centers serving more than 200 clients, and over 60 hospitals and health systems. Smarter Technologies supports more than 500,000 providers, processes more than 400 million transactions and manages over $200 billion in combined revenue annually. A McKinsey study found that hospitals and health systems spend over $250 billion annually on costs associated with billing and collections, involving significant errors and inefficiencies. An American Hospital Association survey found that 50% of hospitals and health systems reported having more than $100 million in accounts receivable for claims that were older than six months. The time taken by commercial payers to process and pay hospital claims from the date of submission has increased by almost 20%. Smarter Technologies is the first major company to address these growing inefficiencies by applying a new modular platform that combines agentic AI agents with scaled human-in-loop delivery capabilities and clinically driven billing algorithms in order to optimize and automate revenue management workflows across healthcare organizations' operations. Smarter Technologies is uniquely positioned to rapidly accelerate healthcare organizations' shift to a more automated, accurate healthcare payment reconciliation model. The company will benefit from SmarterDx's and revenue integrity and quality platforms and highly accomplished teams of industry leaders, developers, data scientists and AI experts, in addition to Access Healthcare's leading RCM service capabilities. Jeremy Delinsky, former CTO of athenahealth, founding COO of Devoted Health and Executive Advisor at New Mountain Capital, will serve as CEO of Smarter Technologies. "We recognize that healthcare provider organizations are confronted with growing administrative and operational challenges, and they need a new kind of flexible revenue management platform that brings together the most proven AI technologies with the lowest cost to serve, highest quality global operations platform at scale," said Delinsky. "Smarter Technologies addresses this need by providing a cost-effective Services as Software offering that helps our clients address the billions in annual administrative inefficiencies in healthcare, giving them more time and resources to focus on improving care for patients." The combined company's accomplished team of industry leaders and operators, developers, data scientists and AI experts will look to streamline provider operations by focusing on modular solutions that reduce cost-to-collect, and drive operational efficiency and scale to deliver ROI from day one for clients. Smarter Technologies' initial core offerings and platforms include: Smarter Technologies Offerings: Smarteraccess: modular RCM service designed for hospitals, health systems and industry partners, combining proprietary virtual agents augmented with leading human operators to manage the complexity of healthcare. With AI that continuously learns and adapts, Smarteraccess delivers higher quality, faster outcomes across the entire RCM workflow leveraging our Nebula, Overwatch, and Spotlight Platforms with no software to install or staff training, client teams can begin with one workflow or dozens to meet organizational needs. SmarterDx: an advanced insights engine that uses proprietary agentic AI, machine learning, and over 2,200 custom algorithms to surface new revenue and quality opportunities. It transforms complex clinical data into fully attributable, actionable insights—enabling more accurate documentation and coding while freeing providers to focus on care, not paperwork. SmarterDx delivers an average of $2 million in net new annual revenue per 10,000 patient discharges for clients, providing a day one, 5:1 ROI to over 40 leading health systems spanning 180 hospital sites leveraging the clinical AI offering. provides organizations with select complex medical billing specialties with a comprehensive and flexible SaaS RCM solution—leverages proprietary agentic agents, natural language processing (NLP), optical character recognition (OCR) and machine learning (ML) as well as advanced AI that adapts and learns from each interaction, to address all key RCM functions of a provider organization. Smarter Technologies Platforms: Nebula: Agentic AI Platform for Workflow Automation A first-of-its-kind agentic AI platform specifically designed for the complexity of RCM, Nebula deploys and trains purpose-built virtual agents that can automate the resolution of up to 70% of revenue cycle tasks. AI reasoning is grounded in deterministic workflows that model an organization's policies and procedures to ensure quality, compliance, and the ability to adjust on the fly to unexpected payer responses. These virtual agents are customized to customer workflow standards but also benefit from learnings across the entire network of virtual workers performing tasks within the same payer systems and RCM software platforms. Backlogs never develop even if volumes spike, because parallelized agents provide unlimited throughput capacity. Overwatch: Highest Quality, Lowest Cost-to-Serve Global Workforce Platform The industry's most efficient and scalable global RCM operations model. Overwatch helps healthcare organizations reduce costs, boost operational efficiency, and improve the patient experience. Today, Overwatch supports over 130 clients, 500,000 providers, and processes over 400 million transactions representing over $120 billion in managed revenue annually. All work is 100% quality assured against customer workflow specifications, eliminating patient friction and lost collections, while allowing for quality guarantees of 99%. Spotlight: AI-powered Clinical Insights and Algorithms Spotlight is a machine learning platform that is purpose built for the complexity of healthcare payment systems, which are increasingly using clinical data to augment adjudication of claims payments. Models are assessed and refined by a team of clinical experts for accuracy and effectiveness and are constantly deployed to the existing platform. While focusing initially on pre-bill opportunities within CDI, Spotlight can be deployed against any stage of the revenue cycle to optimize collections. "Under a unified brand and leadership team, Smarter Technologies will leverage both human-in-the-loop administrative and clinical AI technologies combined with scaled global business process operational capabilities into one platform that automates hospitals' existing revenue management workflows and delivers immediate ROI," said Matt Holt, Managing Director and President, Private Equity, at New Mountain Capital. "Smarter Technologies represents New Mountain Capital's latest major platform company focused on radical modernization of the U.S. healthcare sector leveraging modern digital tools and data, at scale." For more information about Smarter Technologies visit our website or social media channels LinkedIn and YouTube. About Smarter Technologies Smarter Technologies, the automation and insights platform for healthcare efficiency, is a leading AI-powered revenue management platform that combines proprietary clinical agents, human-in-the-loop AI Agents, clinical ontology and global financial and administrative services that allows healthcare organizations the flexibility to automate the entirety of their administrative and financial workflows to optimize operational outcomes and drive better patient experiences. For more information, visit: About New Mountain Capital New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with over $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, visit: View source version on Contacts Media Contact: Smarter Technologies John Hallock (617) 615-7712 New Mountain Capital Dana Gorman / Lisa Pham H/Advisors Abernathy / (212) 371-5999 Sign in to access your portfolio
Associated Press
15-04-2025
- Business
- Associated Press
SmarterDx recognized as one of Modern Healthcare's 2025 Innovators Award Honorees
NEW YORK, April 15, 2025 /PRNewswire/ -- Today, Modern Healthcare announced SmarterDx, the leader in clinical AI for revenue integrity and care quality, as one of Modern Healthcare's 2025 Innovators. The program celebrates both outstanding individuals and organizations leading healthcare innovation. SmarterDx provides hospitals and health systems with clinical AI that helps them analyze the complete record of every patient to fully capture the value of care provided. Founded by physician-data scientists, their proprietary AI platform, featuring solutions SmarterPrebill ™ and SmarterDenials ™, empowers hospitals to improve quality of care scores and capture an average of $2 million in annual net new revenue per 10,000 patient discharges, achieving a 5:1 ROI. SmarterDx's solutions are leveling the playing field for clinicians and health systems, allowing them to achieve their clinical, operational, and financial goals. 'Our hospital and health system customers partner with SmarterDx because we deliver results: more accurate records and codes, fewer denials, and stronger margins,' said Michael Gao, MD, CEO and co-founder of SmarterDx. 'This recognition from Modern Healthcare reinforces what we hear from our customers — that AI can make a real difference when it's designed to understand the full clinical story.' 'Artificial intelligence, the use of data, and technology investments are transforming healthcare — streamlining workflows, improving patient care and creating new business opportunities,' said Mary Ellen Podmolik, editor-in-chief of Modern Healthcare. 'The ambitious work underway by our 2025 Innovators Awards' honorees is producing exciting results that will lead to better results for patients and these organizations that are tackling the industry's biggest challenges.' SmarterDx has experienced rapid growth since launching its revenue cycle management solutions in 2020. SmarterDx's solutions are trusted by over 40+ health systems and 150+ hospital sites across the U.S. About SmarterDx SmarterDx builds clinical AI that empowers hospitals to analyze the complete record of every patient to fully capture the value of care delivered. Founded by physicians in 2020, its proprietary AI platform understands the nuances of clinical reasoning, enabling hospitals to be true to the patient record for every discharge. By doing so, hospitals can recover millions in earned revenue, enhance care quality metrics, and optimize healthcare operations. Discover how SmarterDx is transforming healthcare at About Modern Healthcare Modern Healthcare is the most trusted business news and information brand in the healthcare industry. Modern Healthcare empowers healthcare leaders and influencers to make timely and informed business decisions. To learn more or subscribe, go to CONTACT: Bethany Dufresne AOx3 [email protected] View original content to download multimedia: SOURCE SmarterDx
