Procode AI launches from stealth with $4M and the acquisition of The Auctus Group to bring AI-powered RCM to private practice surgeons

Procode AI’s Coding Copilot enables medical coders to code 90% faster and with much greater accuracy by translating operative reports to billing and diagnostic codes. The company has already added $2M of ARR in five months post-acquisition, demonstrating the profound benefit to providers: fewer coding-related denials, fewer AR days, and maximized reimbursements.

“Our cofounder is a surgeon. Our mission is personal and singular: create the first, best, and largest AI-powered revenue cycle management company for surgeons in private practice,” said Cripe. “The Auctus Group is a tech-forward, missionary team who want to build the next generation biller with us.”

Procode AI’s technology transforms The Auctus Group’s providers’ experience and revenue:

Procode AI Coding Copilot reduces coding-related denials, maximizes payments
Auctus Provider App puts real-time financial and claims data at surgeons’ fingertips
AR/Denials Management Engine that’s faster, clearer, and more reliable by leveraging AI for AR decision making, payment posting, charge posting and other AR processes

“As a surgeon, choosing a medical biller means trusting all of your insurance-based income to one company,” said Dr. Rezzadeh. “At Procode, we’re building technology that ensures that providers are reimbursed fairly for procedures that they perform, and that they are reimbursed faster than ever before.”

The Auctus Group was founded in 2012 by John Gwin, who will continue to lead the RCM business. “Most RCM AI products are vaporware,” said Gwin. “As CEO of The Auctus Group and a longtime HBMA leader, I’ve searched for AI technology that can better equip our team to deliver better billing outcomes for clients and, in Procode, we finally found that.”

About Procode AI

Procode AI is an AI-powered revenue cycle management (RCM) company for surgeons in private practice. Founded in 2024, Procode AI builds intelligent billing infrastructure that removes the administrative burden and uncertainty of reimbursement, giving surgeons confidence in their revenue and the freedom to focus on patient care. Procode AI’s Coding Copilot, AR/Denial Management Engine, and Auctus Provider App automate coding, streamline claims, and give providers transparency into their revenue cycle. The company has raised $4M in venture funding and acquired The Auctus Group, a leading RCM firm, serving more than 300 plastic surgery and dermatology providers.

Download the Auctus Provider App

iOS
https://apps.apple.com/us/app/auctus-providers/id6751704100

Android
https://play.google.com/store/apps/details?id=com.procodeai.procodeaicompanion&hl=en_US

SOURCE Procode Inc.

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