David Haber’s Post

Thrilled to announce that Andreessen Horowitz has led both Series A and B investments in Camber, a company radically simplifying the healthcare reimbursement process for providers so they can focus on what they do best -- delivering quality care for their patients. To the uninitiated, one might assume that healthcare reimbursements follow a simple formula: deliver a service to your patient, submit an insurance claim automatically, and get paid in minutes or days. The reality of our current healthcare system is far more complicated. First-pass collections often hover around 60-80% and the process can take months. It's mind-boggling when you think about it: how many other industries forgo close to 30% of their revenue just because they struggle to get paid (for a product or service they've already delivered)?! The result is that many providers suffer from meaningful working capital issues, which can stunt growth and lead to financial hardship (including bankruptcy). As we've written in the past, many healthcare providers are flying blind when it comes to their finances. https://lnkd.in/es8Ha5he These challenges in our healthcare reimbursement system have spawned an entire industry called Revenue Cycle Management. RCM companies are healthcare-specific BPOs that submit insurance claims for their provider clients and deal with the adjudication required to get paid fairly. Many of these firms charge extremely high fees and employ hundreds (if not thousands) of human call center representatives who process claims manually (with limited to no understanding of the clinical or billing nuances in the practice areas they serve). In the world of AI, there has to be a better way... Enter Camber. Over the past few years, Camber has assembled an incredible team of technologists and turned the RCM challenges for healthcare providers into a software problem. By leveraging AI in their billing workflows, Camber has increased first-pass collection rates to around 93% -- delivering meaningful financial impact for their clients' growth and bottom line. The Camber platform not only enables faster and more efficient reimbursements, but it also delivers distinct growth insights for clients such as where to open new clinics, visibility into payor contract negotiation, and more. Although we're just now sharing our involvement with the company, our partnership with Christophe Rimann, Nathan Lee, Celina Qi and Jade Chan goes back several years -- first as an angel investor, then in leading their Series A and now their B. It's been a privilege to watch them grow as a team and deliver world-class billing execution to some of the largest healthcare providers in their space. More from Marc Andrusko and I on our investment here: https://lnkd.in/esF8YYPs