Medical billing and revenue cycle management firms: outsourced coding, claims, denials and AR management for physician groups and clinics — recurring B2B service contracts priced per collections or per claim.
Every case on this page is drawn from a real screening run. Because the companies shown are privately held businesses, we follow standard confidentiality practice on public pages: quotes are paraphrased, and names, clients and identifying details are replaced (e.g. “ACME 1 Inc.”). The published text is therefore intentionally not traceable to the companies — including through a web search — which protects them without diminishing the underlying data. Pilot and client deliverables contain the original verbatim quotes with source URLs, so every claim can be verified directly. Start with a free pilot →
Every Medical billing & revenue cycle management company is read against the same framework: 20 standard search-funder signals plus 10 signals authored specifically for this vertical. Website-visible facts only, each backed by evidence — never revenue guesses, owner profiling or "ready to sell" flags. Hover or tap any signal for the full definition.
Proprietary deal flow starts here: a company already owned by PE, a group, or a franchisor is not an off-market target.
An identifiable owner-operator is the counterparty a searcher's letter is addressed to.
Generational businesses are the classic succession-driven seller profile searchers are taught to look for.
Captured as stated evidence only: the context a searcher weighs when prioritizing outreach, with no 'ready to sell' guessing.
Decades of operation mean survived cycles, embedded relationships, and an owner with a long tenure behind them.
Tells the searcher whether they inherit a management layer or step into every role on day one.
Functional managers under an owner signal a business that can run through a transition.
The only honest size proxies a website offers; searchers use them to bracket whether a target is SBA-sized.
Defines the geography thesis fit and whether there is a multi-branch platform or a single-site operation.
Recurring revenue is the first line of nearly every searcher's investment criteria.
Customer concentration is a top diligence killer; breadth visible on the site de-risks the thesis early.
Sticky customers are what a new owner-operator actually buys.
Diversified end markets soften cyclicality — a standard line in searcher investment criteria.
Business customers negotiate as equals; the commercial side is where our screening (and most search theses) lives.
Service-led models carry the labor moats and relationship revenue most searchers underwrite.
Licensing is a real barrier to entry: it keeps fragmentation high and protects margins after close.
In trades and services the workforce is the asset; visible bench depth de-risks the labor question.
Signals capex intensity and collateral: both sides of the SBA-financing conversation.
Active hiring reads as demand; the roles listed reveal how the business actually runs.
Low digital maturity with strong fundamentals is the classic operate-and-improve upside a searcher pitches investors.
Billing specialties served: behavioral health, anesthesia, DME, labs, multi-specialty
Full RCM vs billing-only: coding, AR follow-up, denials, credentialing, prior auth
Percentage-of-collections, per-claim or subscription pricing published
Named systems worked in: Epic, athena, eCW, Kareo, AdvancedMD etc.
AAPC/AHIMA certified coder counts (CPC, CCS) on staff
HIPAA compliance program, SOC 2, HITRUST claims — exact only
Onshore vs offshore delivery teams described
Days-in-AR, clean-claim rates, collection improvements published as results
Long-term client relationships and retention claims
Credentialing, contract negotiation, analytics add-on lines
Every company below is shown with its complete signal transcript — each value with confidence and paraphrased evidence. Collapse a card to skim.
| Signal | Value | Conf. | Evidence |
|---|---|---|---|
| Independent ownershipstd | unclear | 50% | “An independent, knowledge-based revenue cycle management consortium.” |
| Founder / owner involvementstd | named founder still listed as principal/president | 90% | “The founders have approximately two decades of healthcare industry experience.” |
| Generational / family languagestd | not_visible | 0% | — |
| Succession-relevant contextstd | The founders of Radical Health are in the Healthcare industry for about two decades. | 80% | “The founders have approximately two decades of healthcare industry experience.” |
| Operating historystd | 10+ years of experience in medical billing and coding | 90% | “The team brings more than a decade of medical billing and coding experience.” |
| Leadership benchstd | limited_visible_bench | 80% | “The chief executive officer provides senior operational leadership.” |
| Management professionalizationstd | not_visible | 0% | — |
| Workforce & scale indicatorsstd | not_visible | 0% | — |
| Geographic footprintstd | Home Office Galleria Village, 1716 Briarcrest Dr, Ste #300, Bryan, TX 77802, USA. Regional Office Olympia Technology Park, #1, SIDCO Industrial Estate, Guindy, Chennai- 600 032, INDIA. | 100% | “Headquartered in Texas with an additional delivery office in southern India.” |
| Recurring revenue indicatorsstd | not_visible | 0% | — |
| Customer base breadthstd | physicians, hospitals, medical groups and insurance companies of all sizes and specialties | 90% | “Serves physicians, hospitals, medical groups, and insurers across specialties and organization sizes throughout the United States.” |
| Customer tenure & retentionstd | clients who have been with us for more than a decade | 90% | “Some client relationships have continued for more than a decade based on longstanding trust.” |
| End-market mixstd | Altitude Physicians Facilities Pharmacy Ambulatory Skilled Nursing Hospice Durable Medics Laboratory Implants & Prosthesis | 90% | “Supports physicians, facilities, pharmacies, ambulatory care, skilled nursing, hospice, laboratories, and medical equipment providers.” |
| B2B orientationstd | businesses/institutions | 100% | “Provides business-to-business services to physicians, hospitals, medical groups, and insurance companies nationwide.” |
| Service vs product mixstd | service_led | 100% | “Offers client-focused medical billing and coding services rather than a product-based solution.” |
| Licenses & certification moatstd | not_visible | 0% | — |
| Skilled labor benchstd | CPC certified coders | 100% | “CPC-certified coders possess broad expertise across medical coding functions.” |
| Visible asset basestd | not_visible | 0% | — |
| Hiring posturestd | Open roles include Manager Human Resources, Coder, Team Lead Medical Coding, Associate/Sr. Accounts Receivable, Account Manager, Medical Coder, and other positions. | 100% | “Maintains recruiting activity for management and account-management positions.” |
| Digital-operations maturitystd | EDI – Clearing House Exposure | 80% | “Claims can be submitted electronically through clearinghouses or manually on paper.” |
| Specialty focusniche | behavioral health, anesthesia, and multi-specialty | 100% | “Experience includes behavioral health, cardiology, chiropractic, dental, dermatology, emergency medicine, endocrinology, and family medicine.” |
| RCM scopeniche | end-to-end RCM including coding, claims filing, payment posting, denial management, credentialing, and prior authorization | 100% | “Services include patient registration, appointment scheduling, eligibility checks, and prior-authorization support.” |
| Pricing modelniche | not_visible | 0% | — |
| PM/EHR platformsniche | not_visible | 0% | — |
| Certified codersniche | Certified medical coders described; count not stated | 90% | “Certified staff hold credentials including CPC, COC, CIC, CPC-P, CPM, CPMA, CPCO, and CPC-H.” |
| Compliance postureniche | HIPAA regulations | 100% | “Solutions emphasize denial prevention and compliance with HIPAA requirements.” |
| Delivery modelniche | client managers on-shore | 90% | “Onshore client managers provide expertise in batch preparation and coordinate delivery operations.” |
| Performance metricsniche | 99% clean claim standard | 100% | “Reports an approximately 99% clean-claim performance standard.” |
| Client tenureniche | clients who have been with us for more than a decade | 90% | “Some revenue-cycle clients have remained engaged for more than a decade through trusted relationships.” |
| Add-on servicesniche | Credentialing experts and enrollment services | 100% | “Credentialing specialists have extensive experience with CAQH registration.” |
| Signal | Value | Conf. | Evidence |
|---|---|---|---|
| Independent ownershipstd | unclear | 50% | “An independent healthcare revenue-cycle services provider.” |
| Founder / owner involvementstd | Founder & CEO | 95% | “The founder remains involved as chief executive.” |
| Generational / family languagestd | not_visible | 0% | — |
| Succession-relevant contextstd | Founded in 2021 | 95% | “Established in the early 2020s.” |
| Operating historystd | Founded in 2021 | 95% | “Operating since the early 2020s.” |
| Leadership benchstd | Iftikhar Ali Khan — Founder & CEO; Md Nematullah — Head of Operations (COO) | 90% | “An experienced operations leader serves as chief operating officer.” |
| Management professionalizationstd | Head of Operations (COO) | 95% | “Operations are overseen by a dedicated chief operating officer.” |
| Workforce & scale indicatorsstd | 200+ Billing Specialists | 95% | “More than 200 billing specialists.” |
| Geographic footprintstd | US Headquarters 1309 Coffeen Avenue Ste 1200 Sheridan, WY 82801; Middle East Office Office C1-1F-SF8562, Ajman Free Zone | 95% | “U.S. headquarters located in the Mountain West region.” |
| Recurring revenue indicatorsstd | not_visible | 0% | — |
| Customer base breadthstd | healthcare providers across the USA | 85% | “Serves healthcare providers across the United States.” |
| Customer tenure & retentionstd | not_visible | 0% | — |
| End-market mixstd | Behavioral Health, DME / Orthopedics, Urgent Care & Telehealth, Small–Mid Practices, Multi-Speciality Hospitals | 95% | “Focuses on behavioral health, medical equipment, orthopedics, urgent care, telehealth, and multispecialty hospitals.” |
| B2B orientationstd | businesses/institutions | 95% | “Provides services to healthcare organizations nationwide.” |
| Service vs product mixstd | service_led | 98% | “Delivers outsourced revenue-cycle management services.” |
| Licenses & certification moatstd | not_visible | 0% | — |
| Skilled labor benchstd | certified coders | 95% | “Certified coders apply ICD-10, CPT, and HCPCS standards to claims.” |
| Visible asset basestd | not_visible | 0% | — |
| Hiring posturestd | not_visible | 0% | — |
| Digital-operations maturitystd | Compatible with 50+ EMR/EHR Platforms; Live performance dashboards | 95% | “Integrates with more than 50 electronic medical and health-record platforms.” |
| Specialty focusniche | behavioral health, DME, orthopedics, urgent care, telehealth, and multi-specialty hospitals | 95% | “Supports behavioral health, medical equipment, orthopedics, urgent care, telehealth, and multispecialty hospitals.” |
| RCM scopeniche | full RCM | 98% | “Handles eligibility, authorizations, charge entry, coding, claims, payment posting, receivables, and denials.” |
| Pricing modelniche | Complete Service Package; Per Transaction; FTE Basis; Custom Plan | 98% | “Pay-as-you-go transaction pricing starts at roughly three-quarters of a dollar per claim.” |
| PM/EHR platformsniche | 50+ EMR/EHR Platforms | 90% | “Experienced across more than 50 electronic medical and health-record systems.” |
| Certified codersniche | certified coders | 95% | “Certified coders manage ICD-10, CPT, and HCPCS work across specialties.” |
| Compliance postureniche | HIPAA-Compliant Operations | 98% | “Operations follow HIPAA requirements.” |
| Delivery modelniche | not_visible | 0% | — |
| Performance metricsniche | 98% First-Pass Claim Acceptance Rate; 35% Reduction in A/R Days; $1.2M+ Revenue Recovered | 98% | “Reports a first-pass claim acceptance rate of approximately 98%.” |
| Client tenureniche | not_visible | 0% | — |
| Add-on servicesniche | not_visible | 0% | — |
| Signal | Value | Conf. | Evidence |
|---|---|---|---|
| Independent ownershipstd | unclear | 50% | “The independent firm supports private equity investors, founders, and strategic acquirers.” |
| Founder / owner involvementstd | Founder and CEO Steven J. Shore | 100% | “The founder and chief executive remains actively involved in the business.” |
| Generational / family languagestd | not_visible | 0% | — |
| Succession-relevant contextstd | not_visible | 0% | — |
| Operating historystd | 30+ years delivering best-in-class hospital service line and medical group leadership | 90% | “More than three decades of hospital service-line and medical-group leadership experience.” |
| Leadership benchstd | Steven J. Shore, Founder and CEO; Robert A. Roig, Principal Consultant | 100% | “A senior principal consultant strengthens the firm’s advisory leadership team.” |
| Management professionalizationstd | Principal Consultant | 80% | “Experienced principal-level consulting leadership supports professionalized management.” |
| Workforce & scale indicatorsstd | not_visible | 0% | — |
| Geographic footprintstd | Los Angeles, California, United States | 100% | “Based in California and serving clients nationally.” |
| Recurring revenue indicatorsstd | 3- or 6-month engagement | 80% | “Typical engagements begin with three- or six-month terms.” |
| Customer base breadthstd | physician groups, private equity partners, and healthcare organizations across the country | 90% | “Serves physician groups, investment partners, and healthcare organizations nationwide.” |
| Customer tenure & retentionstd | not_visible | 0% | — |
| End-market mixstd | behavioral health and specialty care sectors; specialty physician practices; large health systems | 90% | “Focuses on behavioral health and specialty-care markets.” |
| B2B orientationstd | businesses/institutions | 100% | “Helps healthcare organizations improve operations and increase revenue.” |
| Service vs product mixstd | service_led | 100% | “Creates value through focused, hands-on revenue-cycle management services.” |
| Licenses & certification moatstd | not_visible | 0% | — |
| Skilled labor benchstd | 30+ years delivering best-in-class hospital service line and medical group leadership | 80% | “More than three decades of hospital service-line and medical-group leadership expertise.” |
| Visible asset basestd | not_visible | 0% | — |
| Hiring posturestd | not_visible | 0% | — |
| Digital-operations maturitystd | advanced analytics; implementation of leading technologies, including AI | 90% | “Combines advanced analytics with leading technology implementation to convert routine data into actionable insights.” |
| Specialty focusniche | behavioral health; specialty care; multispecialty medical foundation | 90% | “Provides revenue-cycle expertise for behavioral-health organizations.” |
| RCM scopeniche | scheduling, insurance eligibility checks, claim scrubbing, denial prevention, accounts receivable | 100% | “Supports the full revenue cycle, including scheduling, eligibility, claim review, and denial prevention.” |
| Pricing modelniche | not_visible | 0% | — |
| PM/EHR platformsniche | EPIC | 100% | “Implemented a leading electronic health-record platform.” |
| Certified codersniche | not_visible | 0% | — |
| Compliance postureniche | not_visible | 0% | — |
| Delivery modelniche | not_visible | 0% | — |
| Performance metricsniche | +18% net revenue growth; less than 5 percent denial rate target | 100% | “Reported approximately 20% net revenue growth for a client.” |
| Client tenureniche | not_visible | 0% | — |
| Add-on servicesniche | not_visible | 0% | — |
| Signal | Value | Conf. | Evidence |
|---|---|---|---|
| Independent ownershipstd | unclear | 50% | “A founder and co-founder established the healthcare management firm during the late 2010s.” |
| Founder / owner involvementstd | Debra O’Shea runs Epoxy Healthcare and is the President; Eric Brodsky serves as a revenue cycle management consultant. | 100% | “The founder leads the firm and serves as its president.” |
| Generational / family languagestd | not_visible | 0% | — |
| Succession-relevant contextstd | Founders described as having extensive experience running multi-office, multi-location medical practices and having spent many years at the helm of large practices. | 90% | “After years managing large medical groups, the founders wanted to make their accumulated expertise available to other practices.” |
| Operating historystd | founded in 2017 | 100% | “The healthcare advisory firm began operations during the late 2010s under two experienced practice-management professionals.” |
| Leadership benchstd | Debra O’Shea, President; Eric Brodsky, revenue cycle management consultant; Marcia Powers, Human Resources consultant | 100% | “A human-resources consultant supports the firm’s client and internal management needs.” |
| Management professionalizationstd | Human Resources consultant | 100% | “The firm supplements its leadership capabilities with dedicated human-resources consulting expertise.” |
| Workforce & scale indicatorsstd | not_visible | 0% | — |
| Geographic footprintstd | Cape Girardeau, Missouri area; Midwestern clients | 90% | “The founder resides in a southeastern Missouri regional area with her spouse and pet.” |
| Recurring revenue indicatorsstd | ongoing practice support | 90% | “Assignments range from single projects and periodic reviews to continuing practice-management support.” |
| Customer base breadthstd | not_visible | 0% | — |
| Customer tenure & retentionstd | not_visible | 0% | — |
| End-market mixstd | pediatric, Ob/GYN and family outpatient group practices | 100% | “Primary experience spans pediatric, women’s health, and family-medicine outpatient groups.” |
| B2B orientationstd | businesses/institutions | 100% | “The firm positions itself as an experienced, dependable operating partner for medical practices.” |
| Service vs product mixstd | service_led | 100% | “Services include interim management, revenue-cycle oversight, information-technology consulting, strategic planning, and broader management advice.” |
| Licenses & certification moatstd | Certified Medical Practice Executive with MGMA; Fellow with the American College of Medical Practice Executives through MGMA | 100% | “Leadership is experienced in the everyday administrative and operational responsibilities of medical practices.” |
| Skilled labor benchstd | Certified Medical Practice Executive; Fellow with the American College of Medical Practice Executives | 100% | “A co-founder contributes substantial back-office knowledge and technical expertise to client engagements.” |
| Visible asset basestd | not_visible | 0% | — |
| Hiring posturestd | not_visible | 0% | — |
| Digital-operations maturitystd | EMR implementation and support; electronic medical record systems | 100% | “The technical lead supports clients across diverse electronic medical-record environments.” |
| Specialty focusniche | not_visible | 0% | — |
| RCM scopeniche | Billing & Collections Analysis & Optimization | 100% | “Provides analysis and improvement services for medical billing and collections processes.” |
| Pricing modelniche | not_visible | 0% | — |
| PM/EHR platformsniche | Greenway Health’s Prime Suite platform | 100% | “The technical lead has deep experience operating practices on a recognized commercial medical-record platform.” |
| Certified codersniche | not_visible | 0% | — |
| Compliance postureniche | not_visible | 0% | — |
| Delivery modelniche | not_visible | 0% | — |
| Performance metricsniche | not_visible | 0% | — |
| Client tenureniche | not_visible | 0% | — |
| Add-on servicesniche | not_visible | 0% | — |
| Signal | Value | Conf. | Evidence |
|---|---|---|---|
| Independent ownershipstd | unclear | 50% | “An independent medical billing provider serving healthcare organizations nationally.” |
| Founder / owner involvementstd | not_visible | 0% | — |
| Generational / family languagestd | not_visible | 0% | — |
| Succession-relevant contextstd | not_visible | 0% | — |
| Operating historystd | not_visible | 0% | — |
| Leadership benchstd | not_visible | 0% | — |
| Management professionalizationstd | dedicated account manager | 90% | “Each client receives access to a dedicated account manager for questions and support.” |
| Workforce & scale indicatorsstd | not_visible | 0% | — |
| Geographic footprintstd | 541 West Ave A, Tallmadge, OH 44278, United States; Nationwide Coverage | 95% | “Nationwide service coverage combined with regionally informed support.” |
| Recurring revenue indicatorsstd | not_visible | 0% | — |
| Customer base breadthstd | broad customer base | 90% | “Services are designed for healthcare practices ranging from small offices to large organizations.” |
| Customer tenure & retentionstd | not_visible | 0% | — |
| End-market mixstd | Healthcare providers and medical specialties | 100% | “Supports internal medicine, nephrology, behavioral health, cardiology, home health, wound care, urology, and women’s health.” |
| B2B orientationstd | businesses/institutions | 100% | “Provides services to medical practices and other healthcare organizations.” |
| Service vs product mixstd | service_led | 100% | “Offers outsourced revenue-cycle management services rather than physical products.” |
| Licenses & certification moatstd | not_visible | 0% | — |
| Skilled labor benchstd | skilled American team | 85% | “A trained domestic workforce applies extensive knowledge of payer requirements.” |
| Visible asset basestd | not_visible | 0% | — |
| Hiring posturestd | not_visible | 0% | — |
| Digital-operations maturitystd | Portal registrations and digital services | 85% | “Assists clients with payer and portal registrations.” |
| Specialty focusniche | DME, behavioral health, and multi-specialty | 95% | “Provides durable medical equipment billing along with broader revenue-cycle support.” |
| RCM scopeniche | Full RCM | 100% | “Services include eligibility checks, charge entry, coding review, claims submission, rejection handling, payment posting, denials, and receivables follow-up.” |
| Pricing modelniche | Percentage-of-collections | 100% | “Uses a collection-based fee of approximately 3%, with payment required only on successfully collected claims.” |
| PM/EHR platformsniche | not_visible | 0% | — |
| Certified codersniche | not_visible | 0% | — |
| Compliance postureniche | Full HIPAA Compliance | 100% | “Operates with full HIPAA compliance.” |
| Delivery modelniche | Onshore delivery team | 90% | “Billing and support are handled by a domestic team.” |
| Performance metricsniche | 98% Clean Claims Ratio; 97% Claim Reimbursements | 100% | “Reports a clean-claims rate of approximately 98%.” |
| Client tenureniche | enduring partnerships | 85% | “Emphasizes long-term client relationships and continuing partnerships.” |
| Add-on servicesniche | Credentialing, contracting, reporting, and audit services | 100% | “Provides assistance with provider credentialing and payer contracting.” |
Send your thesis. We configure the extraction for your exact criteria and deliver the first 10 qualified companies with full evidence — free.
Request a Free Pilot