The greatest constraints to successful AI are less about the technology itself, and more about inadequacies of the data.
Health care, in particular is a difficult place in which to acquire data of sufficient granularity and volume. HIPAA controls, data complexity, and data silos create "protections" that limit AI effectiveness.
Our vision is to build a company that "self-feeds" healthcare AI data. Our vision is to merge with and partner with the companies who use fundamental healthcare biling data and detail clinical content in the generation of clinical quality. Even small firms of this nature own and manage volumes large enough to give AI enough raw material. And by aggregating service providers with discrete responsibilities, we can break through health care silos.
Along the way, this vision of "feeding the AI" will achieve $10 million in revenues in 2 years with capabilities we have and can easily expand today - entirely apart from our core goal of Healthcare AI. Our unique experience, networks and knowledge identify the best acquisition / partners for the first-stage engine, creating opportunities to expand revenues via cross selling, and other opportunities to improve profitability by consolidating expensive technology and other overhead.
That base of critical mass will enable us to make larger individual acquisitions; coupled with the resulting ability to service larger clients, this second phase should grow at an accelerating rate to $40-$60 million.
That second-phase level will provide expanded capabilities, talent pool and customer base that will evolve to new product offerings – particularly in AI - that create explosive growth. Our analysis of other supercharged organizations in this niche show there is virtually no top end. Acquisition of our firm by large health systems, payors, or large competitors is conceivable.
Today, we provide expert advice to groups containing over 10,000 physicians in the complex arena of Federal Regulations. From this niche position, we regularly observe and work with a variety of firms servicing physicians, in the expanding domain of Value-Based Care.
Our observations have taught us that while there are a few large firms, much of healthcare in this space is provided by small companies. These small companies contain great knowledge and clinical talent but struggle with the business know-how to achieve breakout growth. Further, each firm requires a sizeable investment in technology to enable basic processes.
These firms can benefit enormously by becoming part of something larger, where overhead is consolidated, and cross-fertilization of talent creates ever-increasing opportunities across any client base.
The foundation of our new entity will be built on acquisition across three classes of existing organizations that service the niche where we have the best expertise. Certified Clinical Quality Registries (CCQR) measure and help to improve physician quality. Coding companies access the raw clinical and billing data to create and analyze quality. And Revenue Cycle Management (RCM) companies expand that service footprint across all domains of physician back-office, using an expansion of the same data-set.
In 2022, we acquired our first CCQR, without any third-party capital. Our vision is to acquire two to three additional CCQR’s over the next 12-24 months ($1-2M in revenues).
We also plan to acquire Coding Companies with aggregate revenues of around $3M over this same time frame, and to acquire RCM companies with $2M in aggregate revenues. With cross-selling and expanded marketing capacity, this should result in a $10M revenue footprint in 2 years.
We have specific plans for events triggering the release of funds, and how our venture partners will collaborate.
Everyone is talking about AI in Healthcare. Find out why our approach is both pragmatic and visionary.
And why we see our AI as too valuable to sell.
How do startups similar to us fare? And how far can this strategy take us?