BACKSTORY: This company spent several years developing and improving industry-leading artificial intelligence (AI) technology that identifies overpaid medical claims. It found its niche working on behalf of healthcare providers, insurance carriers, employers, and third-party administrators, saving organizations millions of dollars in overpayments.
PROBLEM: A lack of working capital and unique corporate structure hindered management’s growth agenda.
SOLUTION: TAP made an investment in the company with its financing and also institutionalized internal and back-office systems, creating streamlined accounting processes and real-time dashboard reporting. Additionally, we conducted a thorough evaluation of the company’s business pipeline and facilitated strategic introductions in search of acquisition opportunities that would enhance product and service offerings.
This all made the company’s value-added services more accessible to the marketplace and positioned the company for growth and increased impact within the healthcare technology space.