What You Should Know:
– Smarter Technologies, an automation and insights platform focused on healthcare efficiency, announced its official launch.
– The new company brings together the strengths of Access Healthcare, SmarterDx, and Thoughtful.ai, three entities that recently received strategic growth investments from New Mountain Capital, LLC, a growth investment firm with over $55B in assets under management.
– Smarter Technologies debuts as the industry’s first AI-powered revenue management platform designed to help hospitals and health systems optimize administrative workflows and significantly strengthen their financial performance.
Addressing a Multi-Billion Dollar Efficiency Crisis in Healthcare
The U.S. healthcare system is burdened by staggering inefficiencies in its billing and collections processes. A McKinsey study found that hospitals and health systems spend over $250 billion annually on these administrative tasks, which are often riddled with errors. Compounding this, an American Hospital Association survey revealed that 50% of hospitals and health systems reported having more than $100 million in accounts receivable for claims older than six months. Furthermore, the time taken by commercial payers to process and pay hospital claims has increased by nearly 20%.
The formation of Smarter Technologies creates a formidable entity with over 27,000 employees, 24 global service centers, and a client base including more than 200 organizations and over 60 hospitals and health systems. Annually, the company will support more than 500,000 providers, process over 400 million transactions, and manage over $200 billion in combined revenue.
Smarter Technologies is the first major company to comprehensively address these growing inefficiencies by deploying a new modular platform. This platform uniquely combines agentic AI agents with scaled human-in-the-loop delivery capabilities and clinically driven billing algorithms to optimize and automate revenue management workflows across healthcare organizations’ operations.
Leadership and Vision
Jeremy Delinsky, former CTO of athenahealth, founding COO of Devoted Health, and an Executive Advisor at New Mountain Capital, will lead the new venture as CEO of Smarter Technologies. The company is poised to rapidly accelerate the healthcare industry’s shift towards a more automated and accurate payment reconciliation model, benefiting from the combined expertise of SmarterDx’s and Thoughtful.ai’s revenue integrity and quality platforms, alongside Access Healthcare’s leading RCM service capabilities. The accomplished team includes industry leaders, developers, data scientists, and AI experts focused on streamlining provider operations, reducing cost-to-collect, and driving operational efficiency for immediate ROI.
A Suite of AI-Powered Offerings and Platforms
Smarter Technologies will deliver its solutions through a set of core offerings and underlying platforms:
Smarter Technologies Offerings:
- Smarteraccess: A modular RCM service designed for hospitals, health systems, and industry partners. It combines proprietary virtual agents, augmented by leading human operators, to manage the complexities of healthcare revenue cycles. With AI that continuously learns and adapts, Smarteraccess aims for higher quality and faster outcomes across the entire RCM workflow, leveraging the Nebula, Overwatch, and Spotlight Platforms without requiring software installation or extensive staff training.
- SmarterDx: An advanced insights engine utilizing proprietary agentic AI, machine learning, and over 2,200 custom algorithms to surface new revenue and quality opportunities. It transforms complex clinical data into fully attributable, actionable insights, enabling more accurate documentation and coding while allowing providers to focus on patient care. SmarterDx reports delivering an average of $2 million in net new annual revenue per 10,000 patient discharges for clients.
- Thoughtful.ai: Provides organizations with complex medical billing specialties a comprehensive and flexible SaaS RCM solution. It leverages agentic agents, natural language processing (NLP), optical character recognition (OCR), machine learning (ML), and advanced AI that learns from each interaction to address all key RCM functions.
Smarter Technologies Platforms:
- Nebula: An agentic AI Platform for Workflow Automation, specifically designed for the complexity of RCM. Nebula deploys and trains purpose-built virtual agents capable of automating up to 70% of revenue cycle tasks, grounded in deterministic workflows that ensure quality and compliance.
- Overwatch: Billed as the industry’s most efficient and scalable global RCM operations model, this global workforce platform helps reduce costs, boost operational efficiency, and improve the patient experience with a 99% quality guarantee.
- Spotlight: An AI-powered Clinical Insights and Algorithms platform. This machine learning system is purpose-built for complex healthcare payment systems, using clinical data to augment claims adjudication. Models are refined by clinical experts and initially focus on pre-bill opportunities within Clinical Documentation Integrity (CDI).
“Under a unified brand and leadership team, Smarter Technologies will leverage both human-in-the-loop administrative and clinical AI technologies combined with scaled global business process operational capabilities into one platform that automates hospitals’ existing revenue management workflows and delivers immediate ROI,” said Matt Holt, Managing Director and President, Private Equity, at New Mountain Capital. “Smarter Technologies represents New Mountain Capital’s latest major platform company focused on radical modernization of the U.S. healthcare sector leveraging modern digital tools and data, at scale.”
