Prosper AI
has successfully secured $5 million in funding as it aims to establish itself as the leading voice AI platform in the healthcare sector. This initiative is strategically targeting the staggering $450 billion that is spent annually on administrative tasks within healthcare systems. Prosper’s AI agents are currently managing hundreds of thousands of calls across various prestigious clients, including a network of hospitals affiliated with Providence, a Fortune 50 pharmaceutical entity, a medical billing firm with 30,000 employees, and a prominent U.S. practice management software serving over 100,000 physicians. Such remarkable achievements have enabled Prosper to quadruple its revenue in just the past three months. This latest seed funding was spearheaded by Emergence Capital, with additional contributions from Y Combinator, CRV, and Company Ventures.
Prosper co-founders Xavier de Gracia and Josep Mingot.
Krasnaok
By automating crucial processes such as appointment scheduling, benefits verification, prior authorizations, and claims follow-ups, Prosper AI aims to drastically reduce the necessity of large teams dedicated to answering phone calls and chasing down insurers. This optimization not only cuts operational costs but also enhances the speed at which patient care is delivered. Xavier de Gracia, co-founder of Prosper, highlighted the mission by stating, “We’re attacking the $450 billion of administrative work that’s being done manually in medical practices. Our goal is to make healthcare more affordable by minimizing all this administrative labor.”
The entrepreneurial journey of De Gracia and co-founder Josep Mingot began at Harvard and MIT, where they first crossed paths. After gaining experience at Bain & Company, where de Gracia advised large organizations on operational efficiency, and in a public tech company overseeing operations, he shifted his focus to entrepreneurship. “I was exposed to how call centers operate and witnessed thousands of individuals performing manual tasks that lacked real value,” he reflected. “Together with Josep, whose expertise lies in AI and insurance, we envisioned automating these repetitive calls so that staff could concentrate on more intricate cases.”
Prosper AI has developed a voice AI platform customized for healthcare workflows that encompass a variety of functions, including appointment scheduling, benefits verification, prior authorizations, and claims follow-up. The platform refines multiple large language models from leading providers such as OpenAI and Google, while also utilizing its own orchestration technology. Calls are transcribed in real time, directed through specific instruction sets, and delivered back as seamless, natural-sounding speech with a mere half-second latency. “When interacting with it, it genuinely sounds natural for the human on the other end,” emphasized De Gracia.
Implementations of Prosper’s services generally span a period of three to five weeks. The company presents “battle-tested” agents for each workflow and tailors them to align with a practice’s standard operating procedures. Initial pilot calls undergo monitoring and evaluation by the staff before transitioning to full-scale operations. Once fully operational, Prosper efficiently manages routine transactions and escalates complex issues to human staff. According to De Gracia, the outcomes are multifaceted: “Our AI Agents are more cost-effective than their human counterparts, reduce the frequency of errors, and accelerate insurance payments.”
The results achieved are substantial. At Synergy Healthcare Associates, a large multispecialty group, Prosper automates over 50% of front-desk calls, resulting in reduced wait times and allowing staff to focus on complicated benefits and authorizations. “Prosper has transformed the way our call center operates,” stated Nathan Woelfel, COO of Synergy, in a company announcement.
Prosper’s platform is meticulously crafted for the healthcare industry. For patients, the system streamlines scheduling, addresses billing inquiries, and conducts follow-ups, achieving a remarkable 50–70% automation rate for inbound calls. In dealing with payer calls, Prosper efficiently bypasses payer IVR menus, holds on the line with insurers, retrieves coverage information, and inputs the results back into Electronic Health Records (EHR). The company boasts a 99% accuracy rate when navigating menus, along with sub-two-hour turnarounds for complex benefit verifications.
With a growing team of 15 employees, Prosper has demonstrated its capacity to secure significant enterprise clients. De Gracia attributes their agility and comprehensive integration capabilities with client systems as key to their success. “We’ve been able to showcase our value to massive clients early on,” he remarked, adding, “This propensity arises from our experience with enterprise operations and the current readiness of AI to provide substantial benefits.”
Backed by the new capital influx, Prosper intends to enhance its sales team, deepen integrations with EHR systems, and train its agents to accommodate new tasks such as fax reading and acting upon API data. With an ambitious vision ahead, De Gracia expressed that the ultimate goal is to cement Prosper as the standard AI workforce within the healthcare sector.
