TrueClaim, a Czech-founded and US-based startup that helps to save on health insurance costs, has raised around $2.1 million in its opening round. Kaya VC, Y Combinator, Rebel Fund, Surge Point Capital, Orange Collective, Liquidity, and Explorer Fund participated in the investment.
Co-founded by Bobby Bayer and Barbora P Howell, TrueClaim automates healthcare cost savings for self-insured companies using medical claims and price transparency data. TrueClaim continuously reviews 100% of healthcare invoices to detect billing errors, pharmacy and care savings opportunities.
With Czech roots Barbora, graduated with an MBA from Stanford, has a background in HR, Benefits, and Customer Billing, while her American co-founder Bobby spent 7 years as a Senior Software Engineer building and scaling healthcare technology solutions at pMD.
According to the company, TrueClaim has identified an average of 10.96% savings opportunities in the $20.2 million worth of medical claims it reviewed since January. In addition, the startup also offer a cost recovery service with a 3x ROI guarantee.
“Our software uses newly available healthcare data to save self-insured companies 7% in healthcare costs. It may not seem like a lot, but given that health insurance can cost thousands of dollars a year, this savings can be significant for a small business or startup” TrueClaim Co-Founders commented.
The startup was part of Y Combinator in the Winter 2024 Batch, with the idea to automate healthcare cost containment and save 1.5% of GDP.
