Lightspeed, Meridian Street, Live Oak Ventures, and others back Anatomy with $7.6 million in funding to simplify and automate financial workflows in healthcare
SAN FRANCISCO–(BUSINESS WIRE)–Anatomy Financial announces the launch of their AI-powered financial automation solutions for medical, dental, digital health, and healthcare billing companies. Anatomy has raised $7.6M in funding to build a financial operating system for healthcare from Lightspeed, Meridian Street Capital, Live Oak Ventures, Cambrian Ventures, Peterson Ventures, and angel investors with expertise across healthcare and fintech.
Banks and accounting systems are not purpose-built to integrate with healthcare practice management systems. As a result, healthcare organizations run their finances with spreadsheets and manual processes. Anatomy uses AI to automate the healthcare back-office by linking bank, claims, and accounting data to provide real-time financial insights and automated reconciliation. In an industry that still receives a quarter of revenue by paper check and remits, Anatomy has a purpose-built solution that works alongside existing practice management systems to digitize paper remittances and checks, eliminating the 7 minutes of post-processing work for the average claim.
Anatomy is a great solution for healthcare organizations that bill insurance, including independent practices like Raleigh Orthopaedics Clinic. “At Raleigh Orthopaedics, our finance team used Excel spreadsheets daily to track our insurance bank deposits for our billing team to post, and we receive paper mail from payers to our office that need to be typed into our practice management system. I was thrilled to find an automated solution with Anatomy, especially as we move to a remote billing workforce,” said Brian Bizub, CEO of Raleigh Orthopaedic Clinic.
Anatomy’s co-founders are Sasha and Callum King, a wife and husband team with respective backgrounds in healthcare and fintech. Sasha King, previously Chief Commercial Officer at CareDx, experienced this problem first-hand at a diagnostics laboratory services provider that managed billing in-house. Callum King was previously a co-founder of Brightside, a financial technology platform for employers. Sasha said: “We are thrilled to launch Anatomy and automate the financial processes unique to healthcare. Anatomy is bringing unprecedented clarity to healthcare organizations, allowing providers to focus on patient care.”
“There is a huge focus on innovation in healthcare provision, but the back office frequently gets forgotten. Healthcare practices often have boxes of unreconciled insurance claims or uncashed checks leading to significant outstanding payments,” said Nicole Quinn of Lightspeed Venture Partners. “A healthy business is crucial to the efficient delivery of healthcare; Anatomy is making this happen by bringing a fintech-based system of record and AI to this important industry.”
Healthcare organizations – medical or dental practice, digital health services, or billing companies that bill insurance – can sign up for a demo of Anatomy here.
About Anatomy
Anatomy is on a mission to automate financial workflows for healthcare. Today, healthcare providers receive a quarter of payments and remittances on paper, and siloed banking and practice management systems make it difficult to get clarity into insurance revenue that is paid versus needs follow-up. Anatomy automates these financial workflows using AI to convert EOBs to ERAs, modern lockbox solutions to digitize payments and mail, and seamless integrations to automate bank reconciliation and posting. For more information about Anatomy, visit www.anatomy.com.
Contacts
