RapidClaims’ AI platform cuts healthcare revenue cycle costs by 70% in hours, not months

RapidClaims is revolutionizing healthcare revenue cycle management with AI technology that dramatically reduces costs and implementation time while improving accuracy. The company’s innovative approach tackles the critical mid-revenue cycle challenges that have pushed U.S. healthcare provider margins to dangerously low levels of 1-2%, with claim denial rates nearly doubling to over 13% in recent years. Their technology represents a potential paradigm shift in an industry hamstrung by outdated solutions and manual processes.

The big picture: RapidClaims is building an AI-powered platform to transform healthcare revenue cycle management, with technology that could reduce RCM costs from 3-4% to less than 1% of provider revenues.

• The company was founded by a team with complementary expertise: Dushyant (healthcare experience from Abbott), Jot (product development at Postman), and Abhinay (healthcare data science leadership at Novartis).
• Their solution addresses the critical mid-revenue cycle bottlenecks of medical coding, documentation, and claims submission—areas where traditional tools have failed to keep pace with growing complexity.

Key innovations: RapidClaims’ few-shot learning technology enables specialty coverage at unprecedented speed, requiring only 100-500 medical records to achieve accurate coding versus the industry standard of 50,000+.

• The platform has achieved coverage across more than 25 medical specialties in under a year, with implementation cycles measured in hours rather than the months typical of legacy systems.
• The technology maintains coding accuracy above 95%, critical for compliance and revenue optimization.

Why this matters: Healthcare providers are operating on razor-thin margins, with revenue cycle inefficiencies representing an existential threat to their financial sustainability.

• Traditional RCM solutions require lengthy integration cycles, struggle with specialty-specific requirements, and haven’t adapted to the explosion in medical coding complexity.
• The talent shortage in medical coding post-COVID has further exacerbated the challenges providers face.

The results: RapidClaims’ platform delivers immediate, measurable ROI with up to 70% cost reduction and dramatically shortened accounts receivable timelines.

• The system cuts A/R timelines from 20 days to just 5 days, significantly improving cash flow for healthcare providers.
• The full-stack AI platform addresses multiple pain points in the claims submission process, including denial management and billing automation.

The path forward: The company is pursuing a platform vision targeting the multi-billion dollar revenue cycle management market, expanding beyond initial coding solutions to end-to-end claims submission automation.

• The technology maintains a robust audit trail for compliance, addressing regulatory concerns that have historically complicated RCM innovation.
• RapidClaims’ approach represents a potential paradigm shift in healthcare financial operations at a time when the industry desperately needs efficiency solutions.