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Crosby Health: AI platform for healthcare organizations, automating insurance claim denial management and appeals using clinical AI.
Based in New York, New York, Crosby Health develops artificial intelligence software systems designed to help healthcare providers and medical organizations manage and overturn complex insurance claim denials. The enterprise platform utilizes specialized clinical large language models alongside expert appeal writers and an automated submission engine to streamline the revenue cycle and medical billing recovery process. Originally developed to support the administrative workflows of a private practice with five physicians, the technology now serves a broader market of healthcare facilities focusing on medical coding and denial automation. In May 2024, the software company secured $2.2 million in pre-seed funding from undisclosed investors to further expand its clinical artificial intelligence capabilities under the strategic direction of Chief Executive Officer Rishi Gowda. Crosby Health was officially established in the year 2022 by co-founders James Lloyd and Christopher Lee.
Crosby Health has raised $2.8M across 2 funding rounds.
Crosby Health has raised $2.8M in total across 2 funding rounds.
Crosby Health has raised $2.8M in total across 2 funding rounds.
Crosby Health's investors include Amplo, The Finger Group, NOMO Ventures.
Crosby Health is a health tech company that builds Apollo, a proprietary clinical large language model (LLM) automating clinical appeals, revenue cycle management (RCM), and related administrative tasks to boost healthcare revenue recovery.[1][2][6] It serves small practices, hospitals, and multi-facility health systems by generating, submitting, and tracking denial appeals—especially clinical ones—to insurers like Medicare, solving the problem of time-consuming denials that cost hospitals nearly $20B annually, with $10B recoverable through appeals.[2][5][6] The platform achieves 91.8% accuracy on medical licensing exams, outperforming models like Google's Med-PaLM 2, and delivers 300% faster appeals processing.[1][2]
Founded in 2022 in New York City, Crosby Health raised $2.2M in pre-seed funding from Amplo Ventures, NOMO Ventures, and angels, showing early growth momentum amid rising AI adoption in healthcare admin.[2][4]
Crosby Health emerged from the real-world pain of a five-physician private practice facing high denial rates that required extensive appeals.[4] Founders built internal tools to automate this process using clinical AI, expert appeal writers, and a submission engine, then expanded to help other healthcare organizations after proving effectiveness.[4] Launched in 2022 and based in New York City, the company quickly developed Apollo—a custom-trained clinical LLM for appeals, coding, and auditing—differentiating it from general-purpose models like ChatGPT.[1][2][4] Early traction included outperforming market-leading clinical AIs and securing pre-seed funding, validating the pivot from internal solution to scalable SaaS platform.[1][2]
Crosby Health rides the AI-in-healthcare admin wave, targeting RCM inefficiencies where denials drain $20B yearly from hospitals—half overturnable but manually intensive.[2] Timing aligns with surging clinical LLMs post-ChatGPT, enabling precise handling of unstructured clinical data that general AIs struggle with.[1][2] Favorable market forces include payer scrutiny, staffing shortages, and regulatory pressures on reimbursements, amplified by post-pandemic revenue optimization needs.[5] It influences the ecosystem by reducing clinician admin time (focusing them on care), scaling to health systems, and setting a benchmark for specialized clinical AI over retrofitted models.[1][6]
Crosby Health is positioned for expansion as AI matures in RCM, potentially capturing share in the $10B+ recoverable denials market through Apollo's superior accuracy and integrations.[2] Next steps likely include broader payor connectivity, enterprise partnerships, and new use cases like predictive coding to preempt denials. Trends like multimodal AI and value-based care will shape its path, evolving its influence from appeals specialist to full RCM platform—transforming healthcare from reactive admin battles to proactive revenue sustainability, much like its origins in a single practice's breakthrough.[1][2][4]
Crosby Health has raised $2.8M across 2 funding rounds. Most recently, it raised $830K Seed in February 2026.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 5, 2026 | $830K Seed | ||
| May 1, 2024 | $2.0M Seed | Amplo | The Finger Group, NOMO Ventures |