Thoughtful AI, an AI technology provider focused on automating revenue cycle management in the healthcare industry, announced a major product launch and a significant funding round. The company will use a $20 million Series A raise to launch three AI Agents available to health care companies focused on specific workflows in claims processing, patient eligibility verification, and payment posting. The company calls the technology “human-capable” and touts the agents as cost-saving measures that will enable clients to stop hiring humans for some back-office positions.
“Back-office staffing and reimbursement are core reasons why the U.S. healthcare system is so expensive and inefficient,” said Alex Zekoff, co-founder and CEO of Thoughtful AI. “In many industries, collections cost less than a penny on the dollar, but collections can cost 10 times that in healthcare. Imagine a healthcare provider making $100 million a year yet having to spend $10 million to collect that revenue. Those dollars should go to the patient experience, not inefficient collections processes.”
Thoughtful AI said the three agents (CAM for claims processing, EVA for eligibility verification and PHIL for payment processing) can be trained in about the same amount of time it takes to train a human worker and, along with monitoring, are more reliable and efficient than humans, “making them excellent counterparts or replacements for human teams.”