Easy, automated insurance billing for healthcare providers.
Candid Health automates medical billing for healthcare providers. Our first product is an API that healthcare startups use to submit insurance claims - kind of like Stripe for medical billing. Healthcare providers in the US spend $280B a year -- 8% of their revenue -- on medical billing. It’s one of the largest inefficiencies in the American healthcare system. The incumbents in this fragmented space are service companies that throw armies of humans at the problem. Humans may be good at tackling the outrageous complexities of medical billing, but are expensive, slow, and error-prone. We’re charging less and getting providers paid more by using data science, modern workflow automation, and machine learning to rethink medical billing from the ground up. Today, we charge 5% of the payments we process in exchange for handling everything relating to getting paid: translating doctor’s notes into billable codes, claim submission, appealing denied claims, collecting from patients, and providing sophisticated monitoring & analysis for all of it. This positions us extraordinarily well for our long-term vision of being a complete financial hub for healthcare providers: not only handling billing, but also using billing data to better underwrite loans and AR factoring.