Sift Healthcare Raises US$20M for AI Payment Solutions

The Sift Healthcare company is bringing the powers of AI to the healthcare industry in terms of AI payment solutions. The startup revealed that today, Sift Healthcare raises US$20M Funding, led by B Capital, with the support of several other existing investors, including ALLos Ventures, First Trust Capital Partners, and Rock River Capital. The grant will allow the team to expand and use cutting-edge advancements in artificial intelligence technology.

The US$20 million invested by Sift during the Series B round indeed emphasizes the acknowledgment of AI-driven technology as a game changer and a route to a better healthcare revenue cycle experience. Sift Healthcare is recognized as a market leader in computerized medical AI technology that ensures smooth and economical work of the revenue cycles in healthcare.

Artificial intelligence powered innovations that facilitate data utilization within Sift’s healthcare networks allow organizations to be more efficient, with soaring yields and rapid revenue accrual. Sift’s Payments Intelligence Platform (PIP) is its core and also a backbone for the rest of the retailers. It unifies clinical and payment data into a single dataset that links clinical inputs to financial results. Sift uses its proprietary dataset to leverage advanced machine learning interventions that predict adverse payment outcomes, deliver workflow-integrated notifications and recommendations, and improve patient financial engagement.

Sift also addresses the variability and transparency around the likelihood and amount of payer reimbursement, allowing for a more accurate estimate of patient cost responsibility in the future. This significant advancement marks an important step forward in enhancing pricing transparency across the healthcare ecosystem for both providers and patients.

Sift Healthcare’s Founder and CEO, Justin Nicols, stressed the importance of AI-driven technologies in reducing administrative workload and optimizing reimbursement in the ever-changing landscape of healthcare payments. With B Capital’s support, Sift is ready to expand its AI Payment Platform into new and emerging markets, revolutionizing revenue cycle management.

B Capital’s general partner and head of healthcare, Dr. Robert Mittendorff, said, “We are confident in the AI-powered capabilities of Sift to drive significant improvements in healthcare finance operations.” B Capital’s Principal, Nick Whitehead, added, “B Capital is committed to driving the growth of Sift Healthcare.”

Sift’s Series B funding comes on the back of the successful launch of its Payments Intelligence co-Pilot RevProtect. Developed in partnership with top clinical workflow and service providers, RevProtect provides real-time insights within clinical workflows to take proactive steps to improve accuracy, prevent clinical rejections, and reduce unnecessary write-offs.

RevProtect is Sift Healthcare’s all-in-one machine learning-powered healthcare AI payment solutions, and further positioning Sift Healthcare as the go-to platform for healthcare analytics and data science.