Hank AI

What Hank AI does

Hank AI, Inc. is a private Delaware-incorporated healthcare AI company headquartered in Lexington, South Carolina, founded in 2019 with a team of approximately 20 people. The company builds AI-driven revenue cycle management (RCM) software targeted primarily at anesthesia practices, with secondary use cases across broader healthcare providers, medical billing organizations, and enterprise document processing. Its product suite centers on three integrated components: AutoCoder, an NLP and generative-AI medical coding engine that autonomously codes up to 50% of anesthesia encounters and supports surgical CPT, anesthesia CPT, and multi-specialty ICD-10 with NCCI/NCD/LCD compliance validation; DocuVision, a computer vision platform that extracts structured data from unstructured documents including handwritten notes, scans, and PDFs; and Claim Maker, the RCM workflow platform that combines both into an end-to-end claim lifecycle. HANK Scholar, a healthcare-specific large language model integrated within Claim Maker, adds case summarization, document analysis, and customer-specific contract referencing. The platform is HIPAA-compliant, supports HL7 data feeds, and offers SSO via Auth0/Okta/Azure AD/Google/Microsoft.

Hank AI monetizes through a hybrid SaaS model: per-encounter usage-based pricing for AutoCoder starting at $0.50, subscription-based pricing for DocuVision and Claim Maker, and optional professional services through its in-house ACE-certified coding experts for organizations preferring outsourced or augmented coding operations. Distribution is sales-led with 'Talk to an Expert' enterprise engagement, augmented by an API-first developer motion with GitHub repositories and SwaggerHub documentation, marketplace distribution through the SAP Concur App Center, and a certified integration with ImagineOne RCM software that exposes the platform to 75,000+ physicians. Hank AI also sponsors the Darknet/YOLO open-source computer vision framework, providing developer community reach. The company has raised approximately $4.7M in total disclosed funding across rounds from 2020 through 2023, with the most recent $2.5M round led by three healthcare revenue cycle strategic investors. Customers named publicly include Anesthesia Associates of Boise, Medstream Anesthesia, Health Billing Systems Inc., and TeamHealth.

Name

Hank AI

Legal name

Hank AI, Inc.

Website

https://hank.ai

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Hank AI builds AI-driven healthcare revenue cycle management software, including AutoCoder (medical coding), DocuVision (document processing), and Claim Maker (RCM workflow), targeting anesthesia practices, healthcare providers, and medical billing organizations with a HIPAA-compliant, API-accessible platform.

Ownership category

akta.pro rank

Product category

Healthcare Revenue Cycle Management Software

NAICS

Software Publishers (5132), Custom Computer Programming Services (541511), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Medical Billing & Coding Automation (HLACACAA)

akta.pro secondary industries

Patient Billing, Statements & Payment Processing (HLACACAG), Medical Coding, Billing & Clinical Documentation Support (BPAAAFAD), Intelligent Document Processing (IDP) & OCR Automation (HDAEAHAC)

Keywords

• Healthcare revenue cycle
• AI medical coding
• Computer vision documents
• Automated claims processing
• Anesthesia billing software

Headquarters

HQ city

Lexington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Software Subscription (SaaS): Subscription-based software licensing with metered fees based on transaction volume. Subscriptions have defined terms (calendar months) with automatic renewal unless terminated.
2. Usage-based Medical Coding (AutoCoder): Per-encounter pricing model for AutoCoder medical coding automation, starting at $0.50 per encounter processed through the system.
3. Professional Services: Full-Service Data Entry and Human-in-the-Loop services provided by Hank AI software and personnel, guaranteed to meet or exceed industry standards for accuracy.
4. API/Integration Services: DocuVision API integration services including SAP Concur App Center listing for automated data extraction from purchase order documents.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Hank AI builds and sells AI-powered healthcare revenue cycle management software, anchored by three products: AutoCoder (autonomous medical coding for anesthesia encounters using NLP, generative AI, and decision trees), DocuVision (computer-vision-based extraction of structured data from medical records, scans, handwritten notes, and PDFs), and Claim Maker (an integrated RCM platform combining document management, automated coding, and claim generation). The company also offers HANK Scholar, an RCM-specific LLM for coding assistance, and bundles these with optional outsourced coding and revenue integrity audit services through ACE Industry Experts.

Product overview

Hank AI offers a unified healthcare revenue cycle automation platform consisting of three core products (AutoCoder, DocuVision, and Claim Maker) that work together as an integrated suite. AutoCoder is the AI-powered medical coding engine that autonomously codes anesthesia encounters using NLP and generative AI. DocuVision provides computer vision-based document processing to extract data from medical records, scans, and PDFs. Claim Maker serves as the primary RCM platform that integrates both AutoCoder and DocuVision for end-to-end claim lifecycle management. Additional modules include Data Entry Services, Document Management, Medical Coding Services, and Revenue Integrity Analytics. The platform also includes HANK Scholar, an LLM-based coding assistant. The company provides ACE Industry Experts services for organizations preferring outsourced coding support alongside the technology solutions.

Differentiator

Problem solved

Functional benefit

Brands

• AutoCoder: AI-powered automated medical coding software for anesthesia encounters with features including NCCI, NCD, LCD, payer rules, and anomaly detection.
• DocuVision
• Claim Maker
• Claim Cleaner
• HANK Scholar

Products and services

• AutoCoder AI-powered automated medical coding system that autonomously codes up to 50% of anesthesia encounters without human interaction. Supports surgical CPT, anesthesia CPT, and multi-specialty ICD-10 with integrated NCCI, NCD, LCD, and payer rule validation. Designed for anesthesia practices, healthcare providers, and medical billing organizations.
• DocuVision Proprietary computer vision technology that automatically processes unstructured data from documents including medical records, PDFs, images, scans, and handwritten forms, extracting structured data and converting human-readable documents into machine-readable formats. Used in healthcare document management and enterprise PO/invoice automation.
• Claim Maker Comprehensive healthcare revenue cycle management platform that integrates document management, automated medical coding, and AI-driven claim processing. Reduces claim generation time by over 50% and integrates seamlessly with existing RCM software such as ImagineOne.
• HANK Scholar Revenue cycle management-specific Large Language Model (LLM) coding assistant integrated within Claim Maker and AutoCoder. Provides detailed case summaries, document analyses, references customer-specific contracts and agreements, and answers general coding and compliance queries.
• Revenue Integrity Analytics (RIA) Automated revenue integrity audit service that evaluates every medical record through claim payments collections over a specified period. Automatically identifies over 90% of revenue leakage and provides training to recover lost revenue for healthcare providers and billing organizations.
• ACE Industry Experts Outsourced medical coding and full-service data entry service provided by in-house and on-demand ACE anesthesia coding experts who work alongside HANK AI technology. Offers 'done-with-you' or 'done-for-you' coding services for organizations scaling medical coding operations.

Quantifiable outcome

• Reduce manual work and costs by up to 50%
• +9 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability12 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• ImagineSoftware (Technology Partners, LLC)coreStrategic or Co-development Partner · 26 September 2023Strategic partnership where ImagineSoftware and HANK.ai offer comprehensive approach to automating healthcare revenue cycle and business workflows. HANK's Claim Maker platform is certified and integrated directly with ImagineOne, enabling healthcare providers and medical billing organizations to streamline operations by eliminating manual tasks.
• SAP ConcurcoreTechnology or Integration · 24 February 2023HANK DocuVision integration with SAP Concur Invoice allows for automated data extraction from purchase order documents. DocuVision processes inbound POs, identifies vendors, extracts key data including line items, and submits details directly to Concur Invoice for improved invoice-to-PO matching.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Olive AI: Olive AI was a healthcare AI company focused on automating revenue cycle workflows, prior authorizations, and other administrative processes. While operating at greater scale and broader scope, it was a direct comparable to Hank AI's AI-driven RCM automation approach before winding down operations.
• Fathom: Fathom is an AI company focused on medical coding automation using large language models. It directly competes with Hank AI's AutoCoder product in the AI-powered medical coding space, serving healthcare provider customers seeking automated CPT and ICD coding.
• ImagineSoftware: ImagineSoftware provides medical billing and revenue cycle management software serving 75,000+ physicians. It is both a strategic partner and competitor to Hank AI, with overlapping RCM capabilities and the closest direct integration in the ImagineOne ecosystem.
• AKASA: AKASA builds AI-native solutions for healthcare revenue cycle management, including automated medical coding and claims processing. As an AI-first RCM company, AKASA is a direct competitor to Hank AI's AutoCoder and Claim Maker products, serving similar healthcare provider customers.
• Aidéo Technologies: Aidéo Technologies builds AI-powered medical coding and clinical documentation improvement tools for healthcare providers. It is a direct peer to Hank AI's AutoCoder product, focused on automated CPT and ICD coding using natural language processing.

Broad incumbents

• Waystar: Waystar is a large, established healthcare revenue cycle management platform offering claims processing, medical coding, and patient billing solutions. It is a broad incumbent whose RCM portfolio overlaps with Hank AI's Claim Maker and AutoCoder offerings, though Waystar serves a much wider set of healthcare providers.
• Optum (RCM): Optum, part of UnitedHealth Group, offers revenue cycle management and medical coding solutions as part of its broader healthcare services portfolio. It is a broad incumbent with substantial resources competing across multiple RCM workflows that overlap with Hank AI's offerings.
• Experian Health: Experian Health provides a comprehensive suite of revenue cycle management, claims management, and patient access solutions to healthcare providers. It is a broad incumbent with overlapping capabilities in claims processing and RCM automation that compete with Hank AI's suite.
• Availity: Availity provides healthcare revenue cycle, claims processing, and clinical documentation tools to providers and payers. Its RCM and billing automation capabilities overlap with Hank AI's Claim Maker platform and broader RCM automation suite.

Emerging players

• Notable (formerly Notable Health): Notable applies AI to automate administrative healthcare workflows including patient intake and billing. As an emerging AI-driven healthcare automation company, it has partial overlap with Hank AI's RCM automation approach, though Notable focuses more broadly across administrative workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• GitHubgithub.com/hank-ai
• LinkedInlinkedin.com/company/hankai

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hank AI