AKASA Recognized as a Top AI-Powered Revenue Cycle Leader by Black Book

South San Francisco, Calif. – March 6, 2025 – AKASA, the preeminent provider of generative AI solutions for the healthcare revenue cycle, has been recognized as a top-ranked vendor by Black Book Market Research’s “AI in Healthcare Finance: 2025 Market Review.” This distinction reinforces AKASA’s position as a trusted AI partner for innovative health systems.

The Black Book report, based on survey data from more than a thousand healthcare executives, RCM professionals, and technology leaders, examines AI software and vendors for the revenue cycle. It rated 80 vendors across 18 key performance indicators (KPIs).

AKASA was named in 17 out of the 18 categories, showcasing its proven reputation within the RCM market and the broad nature of the return on investment (ROI) it brings to its health system customers.

AKASA is one of only a few marquee companies ranking at the top across multiple categories. It landed among the top five in nine critical areas, including:

• Reduction in Administrative Burden for Back-End Financial Teams
• Reduction in Days in Accounts Receivable (A/R) & Improved Cash Flow Predictability
• Increase in Clean Claim Submission Rates
• Time Savings in Claim Resubmission & Appeals Resolution
• Improvement in Overall Claims Reimbursement Turnaround Time
• Reduction in Claim Rejection & Denial Rates
• Reduction in Patient Registration Errors & Administrative Workload
• Accuracy of Insurance Eligibility Verification & Pre-Authorization Approval Rates
• Increase in Successful Patient Collections & Reduced Bad Debt Write-Offs

As healthcare organizations increasingly turn to AI to navigate tightening margins, labor shortages, and rising denials, AKASA continues to deliver measurable improvements in efficiency and financial outcomes.

The report calls out that AKASA’s generative AI-powered platform “minimizes human errors, improves coding efficiency, and reduces compliance-related denials…AKASA enables health systems to optimize financial performance and reduce administrative burden.”

“This recognition from Black Book is a testament to the power of AI-driven solutions in the revenue cycle,” said Malinka Walaliyadde, CEO and co-founder of AKASA. “We are proud to be one of the top AI vendors in this industry, as we are purpose-built for the revenue cycle and remain committed to helping providers minimize revenue leakage, improve cash flow, and elevate the work of their teams.”

Jeff Francis, vice president and CFO at Methodist Health System, echoed this sentiment: “We have been impressed with the AKASA team’s expertise in revenue cycle operations. The benefits we’re seeing are a higher reimbursement yield. We continue to see an improvement in our major metric, which is cost-to-collect. We are just getting more pennies on the dollar.”

Matt Morgan, CFO at Montage Health, agrees: “Unlike other companies we considered, AKASA takes a holistic view. They plan for not only how to automate the revenue cycle, but how to continue to optimize it into the future. We knew we could grow with them.”

As AI continues to redefine the healthcare financial landscape, AKASA remains committed to delivering cutting-edge solutions that empower healthcare organizations to operate with greater accuracy, efficiency, and financial resilience.

About AKASA

AKASA is the preeminent provider of generative AI solutions for the healthcare revenue cycle. Our offerings are built on the AKASA Platform, which integrates the company’s proprietary generative AI technology and deep revenue cycle expertise to deliver exceptional impact for hospitals, health systems, and the patients they serve. AKASA is the only AI company whose technology is trained on a health system’s own clinical and financial data, enabling AI to better understand the specific nuances of a health system. AKASA helps healthcare organizations improve revenue outcomes, achieve greater efficiency, empower staff, and allocate resources where they matter most.