Artificial intelligence startup Amperos Health raised $16 million in series A funding as it continues to automate revenue cycle management using AI.
Bessemer Venture Partners led the series A round, with participation from Uncork Capital and Neo. Sofia Guerra, partner at Bessemer Venture Partners, told Fierce Healthcare the company knew AI was “going to be a big driver of automating” the RCM process, adding that Amperos stood out for its quality, technical approach and results.
“When you get on the phone with a customer and they have raving reviews, that's where you really pay attention,” Guerra said. “And Amperos had a lot of that.”
The company raised $4.2 million in a seed funding round from Uncork Capital, Neo and Nebular, with strategic angel investors from OpenAI, Twilio and Stripe. It has raised $21 million to date.
Amperos Health CEO and co-founder Michal Miernowski told Fierce Healthcare the company plans to use the newly announced funding to scale the existing organization.
“We've been able to help our customers recover about $700 million of outstanding claims per year, but if you look at how much revenue is denied in the industry, it's about $262 billion per year,” Miernowski said. “So we're only really scratching the surface.”
Initial claims denials reached nearly 12% in 2024, and increased denials and subsequent revenue losses led to providers spending more than $26 billion annually on recovering denied claims, the company said in the announcement.
Miernowski said the funding will also work to scale Amperos’ platform. “We'll be launching other modules later this year that start going across those different RCM teams, including things like prior auth [and] insurance verification,” Miernowski said.
Alongside the funding announcement, Amperos announced the launch of what the company calls the industry’s first AI-native denial management and revenue recovery end-to-end solution for providers.
Miernowski said the way the tool works is “very similar, almost to a human being working the claim,” adding the solution sits within existing systems and has a range of functions, including navigating insurance websites and filling out appeals.
“We do have a team of human experts that can jump in, and then what we deliver to our customers is those end-to-end worked claims,” Miernowski said.
The platform uses large language models (LLMs) to complete entire RCM workflows and maximize reimbursement at the lowest cost to collect. Miernowski said feedback on the tool has been positive across entire organizations, citing a large provider with a national footprint that was “severely understaffed.”
“We’re able to help them collect over $60 million of collections within just eight weeks,” Miernowski said.
Providers of all sizes are feeling the pressure from payers, Guerra said, though small and mid-size providers often find themselves “in the never-ending loop” of work. “Amperos is really taking a lot of that work and pain, and doing that with technology,” she said.
“It's not just a productivity boost that it gives those teams,” Guerra said. “But also, the recovery rate and win rate, and being able to deliver a service end-to-end that's a lot cheaper than alternatives.”
The company says it has served more than 3,000 clinical locations across the U.S. to date, driving nearly $700,000 million in recovered revenue per year across more than 500,000 claims.
Blue Ash, Ohio-based DOCS Dermatology is one of the providers partnering with Amperos. DOCS Vice President of RCM Valerie DeCaro told Fierce Healthcare the group was looking for “solutions to help augment our workflow” amid rapid growth, maintain “discipline around our cost to collect,” policy changes and shifting administrative burden.
“[We] just realized that if we want to continue to scale in the way that we know we will, we needed some type of automation AI to help us get there at the same time,” DeCaro said.
DeCaro said the organization has been “focused on leveraging” Amperos’ auto-claim statusing tool and has seen “strong success.”
“It's helped us to accelerate our staff production, helped us gain greater visibility into a claim status,” DeCaro said. “And ultimately just drive more efficient follow-up and collection activity to help us get to our KPI.”