Anatomy is on a mission to automate financial operations for healthcare and enable providers to focus on quality patient care. Financial operations in healthcare are unique. Insurance payments can arrive months after a patient is seen, and bundle together multiple payments and recoupments from that insurance payer. It doesn’t help that 25% of claims in the US come in the mail as a paper explanation of benefits with a physical check and requires manual data entry.
Anatomy offers an AI Healthcare lockbox, where practices change their mailing address to a PO Box, and we turn physical mail into an email-like experience so it is easier to follow up with insurance companies and patients. Anatomy deposits checks and converts paper EOBs that arrive in the mail to electronic remittances for automated posting into the practice management system or EMR.
We solve a problem that has been largely unaddressed for ambulatory practices in particular. I regularly meet with practices where the provider personally takes checks to the bank, and front desk teams are opening and sorting mail. It is not uncommon to hear about expired checks found in drawers. This is a pain point for practices of all sizes, I meet with large groups and billing services that are essentially running mail rooms out of their offices or that use bank lockboxes and parse through PDFs with hundreds of pages of scanned mail. At Anatomy we're tackling a difficult, operationally intensive process that is hard to take on, and we're excited to use our scale to support billing companies and practices of all sizes and specialities across the US. We're using the latest advancements in AI in a manner that actually delivers meaningful ROI on day 1 for customers.
Success for us is supporting more practices. Many groups we speak with have never heard of a lockbox, so we're doing a lot of education on how we can enable a fully digital back office. We're also growing our support organization as we bring on more large customers: billing groups with hundreds of practices, medical and dental practices with hundreds of locations, and telemedicine companies with thousands of providers.