Anatomy Financial announced the launch of their AI-powered financial automation solutions for medical, dental, digital health, and healthcare billing companies. And Anatomy has raised $7.6 million 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. So, healthcare organizations run their finances with spreadsheets and manual processes.
Anatomy utilizes AI to automate the healthcare back-office by linking bank, claims, and accounting data to provide real-time financial insights and automated reconciliation. And in an industry that still receives a quarter of revenue by paper check and remits, Anatomy has a purpose-built solution that works with existing practice management systems to digitize paper remittances and checks, eliminating the 7 minutes of post-processing work for the average claim.
Anatomy’s co-founders are Sasha and Callum King, a wife and husband team with backgrounds in healthcare and fintech, respectively. Sasha King (previously Chief Commercial Officer at CareDx) experienced this problem at a diagnostics laboratory services provider that managed in-house billing. And Callum King was previously a co-founder of Brightside, a financial technology platform for employers.
KEY QUOTES:
“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.”
- Brian Bizub, CEO of Raleigh Orthopaedic Clinic
“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.”
- Sasha King
“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. 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.”
- Nicole Quinn of Lightspeed Venture Partners
