3x Thesis: The “Revenue Recovery” Platform for Healthcare Providers

Every healthcare investor knows the story: the clinic looks profitable on paper, but when you lift the hood, there’s 10–15% of revenue sitting in limbo...unpaid claims, coding errors, rejected reimbursements. It’s not a demand problem. It’s a billing problem.

The U.S. healthcare system processes over $4 trillion in annual claims, yet industry studies suggest up to $200 billion is lost each year due to revenue cycle inefficiencies. That’s not bad debt, that’s cash that should have been collected but never made it through the maze of insurers, codes, and compliance.

Here’s the opportunity:
• Roll up regional RCM (Revenue Cycle Management) providers. The market is incredibly fragmented.....thousands of small players serving single-specialty clinics.
• Integrate them under a unified platform that automates coding, claims, and payment reconciliation.
• Add a SaaS layer to bring transparency and performance dashboards to physicians, CFOs, and operators.
• Move pricing to a performance-based model — not “per claim processed” but “per dollar recovered.”