Amperos: Tackling healthcare’s $260B+ denial management problem

Editor's Note: The following article was originally published on the Bessemer Venture Partners blog, announcing their lead investment in Amperos's $16 million Series A. You can read the original post.

Every year, U.S. healthcare providers lose more than $260 billion in revenue to insurance denials. That’s not a rounding error; it’s a result of a structural failure in how American healthcare gets paid for. A claim goes out, a payer pushes back, and then begins a grueling process through claims portals, hold music, re-submitted paperwork, and appeals. The work is so repetitive and laborious, all while 63% of revenue cycle management (RCM) teams are chronically understaffed, with staff turning over 32% annually and driving administrative waste higher.

The outcome is an industry where hospitals and clinics are essentially performing two jobs: delivering care, and then later waging an administrative war to get paid for it. For providers already operating on thin margins, this cost is often the difference between sustainability and closure, and a burden on our system and society.

Enter Amperos Health. Amperos is building a digital workforce of AI agents for revenue recovery, managing denials and claims end-to-end for healthcare providers. We’re leading the team’s $16 million Series A because we believe these agents will fundamentally change healthcare administration — not by incrementally speeding up existing workflows, but by taking them over entirely. RCM is one of the largest and most fractured back-office systems in any industry, and denial management is its painful, unsolved problem.

Amperos automates the full denial management lifecycle. Where legacy solutions might automate a single step, Amperos is the first to handle the entire workflow: following up through insurance portals and phone calls, submitting corrected claims, attaching medical records, and filing appeals. The numbers speak for themselves. Amperos has recovered ~$700M in revenue per year, servicing more than 3,000 clinics across all 50 states and more than 500,000 claims. Compared to legacy vendors, Amperos recovers 22% more per claim worked at up to 50% lower costs.

Why we believe Amperos has category-defining potential

Beyond the proof in numbers and the positive feedback we’ve heard from providers’ experiences, three things give us further conviction that Amperos can define this category:

1. They offer an end-to-end solution with clear ROI. The RCM software market is full of point solutions, or tools that automate calling, letter writing, or portal navigation in isolation. Amperos handles them all, automating the entire process from the first follow-up to final resolution. Amperos’ end-to-end ownership makes it the ideal system of record, or system of action, for collections.
2. The timing is right for agentic AI in healthcare denial management. For years, RCM automation stalled because the tasks were too varied, contextual, and dependent on unstructured information to be managed by rules-based software. Long-horizon agents change this entirely because agents can now reason through complex denial scenarios, and Amperos is deploying this at scale. And as we outlined in our State of Health AI report, providers are aggressively adopting AI, particularly in RCM.
3. The founding team is uniquely suited to transform revenue management. CEO Michal Miernowski brings experience at the crux of financial infrastructure and healthcare, working alongside clinic administrators during his time at Onex and Goldman Sachs, among others, where he repeatedly encountered the same dysfunctions Amperos corrects. CPO Alvin Wu brings the product instincts to build software that RCM teams will adopt, previously leading product and engineering teams at Samsara and Fitbit. And CTO Wilson Wang has been building AI agents since the early days of LLMs — even training his own voice models independently.

As Michal Miernowski, Co-Founder and CEO of Amperos, stated:

Between its voice AI capabilities, browser agents, and agentic reasoning, Amperos is demonstrating what’s possible in AI-powered denial management and revenue recovery. The platform is positioned to expand across the full revenue cycle, becoming the AI infrastructure layer that keeps providers financially healthy.

We’ve spent decades tracking the digitization of healthcare administration. The shift from manual workflows to AI automation is the next frontier, and its implications go far beyond operational efficiency. Amperos is enabling a healthcare system that works better for everyone, driving outcomes that are better, faster, and cheaper.