What's Happening?
Thrivory, an AI-powered healthcare fintech company, has raised $3.5M in equity and $25M in credit to tackle slow reimbursement cycles in healthcare. The funding, led by Redesign Health and Trinity Capital, supports the scale of its ThriveNow API, which
embeds instant claims payments into EHR and practice management systems. Thrivory aims to eliminate reimbursement delays through instant, non-recourse claims settlement, predicting claim outcomes with 96% accuracy and advancing up to 80% of expected value within hours.
Why It's Important?
Thrivory's innovative approach addresses a significant financial barrier in healthcare: slow reimbursement cycles. By providing instant liquidity and eliminating the risk of clawbacks, Thrivory's platform can alleviate cash-flow bottlenecks that contribute to provider burnout and constrain growth. This advancement is particularly crucial as denial rates climb, impacting providers' financial stability. The funding will enhance Thrivory's risk models and expand its underwriting capacity, potentially transforming the healthcare payment landscape.
