30% of total healthcare expenditures in the United States are the direct result of administrative costs. Digital adoption in parts of the healthcare system have alleviated some of the burden but work remains to be done to ensure seamless and efficient patient care experiences. CertifyOS is a network management infrastructure platform for the healthcare industry that focuses on licensing and credentialing. By leveraging the company’s APIs, the process of onboarding providers into health plans eliminates unnecessary paperwork and delays, trimming the process from months to minutes. The startup was founded in late 2021 by a team of former Oscar Health employees that have collected credentialed over 40,000 healthcare providers. The platform covers major provider types (MDs, DOs, PAs, RNs, NPs, and LCSWs) and also handles state licensing nationwide as well as hiring.
AlleyWatch caught up with CertifyOS CEO Anshul Rathi to learn more about the inspiration for the business, the company’s vision to build a healthcare cloud that streamlines the time to onboard, future strategic plans, first institutional funding round, and much, much more…
Who were your investors and how much did you raise?
$4.55M in Seed funding led by Upfront Ventures, with participation from Max Ventures, Arkitekt Ventures, Goldline Ventures, and the Hustle Fund. Angel investors also participating in the round include Will Young (Co-Founder of Sana Benefits), Chase Feiger (Co-Founder & CEO of RxDefine), Alex Cohen (executive at Carbon Health), Rohit M A (Medical Director of Cloud9 Hospitals), Bart MacDonald (Founder and Managing Partner of Bloom Equity Partners), and Bobby Lo (former executive at Snapchat).
Tell us about the product or service that CertifyOS offers.
CertifyOS is an API-first platform that automates provider licensing and credentialing for a frictionless experience. With integrations into hundreds of primary sources, enabling near real-time verification and credentialing for enrollment, CertifyOS is uniquely positioned to be the one-stop-shop for all provider networking needs, including provider sourcing, licensing, credentialing, health plan enrollment, and monitoring.
As former Oscar Health employees, our founding team dealt with the pain points of scaling provider networks first hand – the lack of APIs, the sub-par tech stack, poor user experience, and the piles of paperwork. In our previous experience, the entire provider onboarding experience was slow and frustrating so we wanted to build a reliable platform that addressed the pain points that providers and payors are often faced with. Our mission at CertifyOS is to make the world’s provider data more accessible and transparent, and break down the barriers to everyone getting access to the right providers, in the right places, with the right coverage.
How is CertifyOS different?
CertifyOS’ competitive advantage is derived from two major factors: product-team fit, and full product automation. Our team has deep expertise in the provider credentialing process, having credentialed over 40,000 providers over our careers. As a result of the insights from that experience, CertifyOS’ platform is purpose-driven to automate all steps of the credentialing process.
What market does CertifyOS target and how big is it?
CertfiyOS’ targets the ~$10B provider licensing and credentialing market used by digital health providers and insurance payors.
What’s are your post-COVID office plans??
We are a completely remote team.
What was the funding process like?
We had a lot of inbound interest, it went pretty quickly once we found the right partners in Upfront Ventures and their team.
What are the milestones you plan to achieve in the next six months?
“As patients demand more accessible care and flexible providers, payors and providers are struggling to meet these changes with old software and inefficient processes” said Kevin Zhang, Partner at Upfront Ventures. “Anshul and team are serving both with a modern platform bootstrapped in less than a year; I’m excited to join the board and support them in scaling even faster and building the definitive provider data platform.”
Where do you see the company going now over the near term?
We are building a one-of-a-kind healthcare cloud that will reduce provider onboarding time from months to minutes. Our goal in the next year is “one API, one NPI, frictionless provider data”. We want to empower healthcare providers and payers to move healthcare into the future by providing all the provider data imaginable using just one NPI number.