Executive one-pager · Seed round
The ambient-AI-native EMR + RCM for independent practices
REV.health gives time back to the exam room — the note is done before the clinician leaves the room — and gets independent practices paid correctly the first time. One platform: EHR + practice management + revenue-cycle, AI-native from day one.
The problem
Independent 1–5 clinician practices — the largest underserved segment in ambulatory health IT — lose 2–3 hrs/night to “pajama-time” charting, leak 5–10% of revenue to fragmented billing and untriaged denials, and run 30–60 day AR cycles. Incumbents have outgrown this buyer.
Why now
A once-per-decade regulatory window (USCDI v3, HTI-1, TEFCA, CMS-0057-F prior-auth APIs) forces every incumbent to retrofit. We start native — FHIR-native, AI-native and TEFCA-connected from day one.
The product
One data model across 10 modules — ambient clinical doc, scheduling, eligibility & prior-auth, eRx/EPCS, and integrated RCM & denials in the seed-funded wedge. The note is coded and traceable to the audio; charge capture → 10K+ rule scrubbing → auto-posting → AI denial triage targets ≥98% first-pass clean claims.
How we're different
- Structure-first ambient scribe (writes coded fields, not a transcript)
- Turn-key integrated RCM — no billing coordinator required
- Resource-graph scheduling — ~20% utilization lift in our data
- ML-based, not rules-based — ≥15% more efficient as it learns
Business model
$595/provider/mo SaaS + 4.9% of collections (90% attach) — all-inclusive, no AI upcharge. ~$48K revenue/provider/yr, ~$121K ACV/practice. Room to raise rate & collection % as the platform hardens and new specialties come on.
Market
$15B+ US ambulatory EHR/PM/RCM TAM · ~$4B independent primary care SAM (1–5 clinicians) · expansion into high-collections specialties (ortho, cardio, GI) is a pure ACV lever after the primary-care beachhead.
The plan
2028 GA after ONC certification; Series A (~$12M) assumed H2 2028. Path to 460 practices / 1,150 providers and a $55.6M exit ARR run-rate by 2031, EBITDA-positive ~month 36, ~$39M run-rate EBITDA at 78–79% gross margin.
The return
$4M → $111M at a 10× revenue exit in 2031 — 27.8x gross MOIC, $107M gain, on 20% seed ownership (pre-dilution). Live, formula-driven model in the portal.