Prestigious International Annual Awards Program Recognizes Standout Digital Health & Medical Technology Products and Companies
SAN FRANCISCO, May 8, 2025 -- Candid Health, the revenue cycle automation platform for healthcare providers, today announced that it has been selected as winner of the "Best Revenue Cycle Management Services Solution" award in the 9th annual MedTech Breakthrough Awards program conducted by MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global digital health and medical technology market.
Providers spend hundreds of billions of dollars annually on revenue cycle management, much of this on manual submissions and denials management processes. Candid's platform addresses the root cause of RCM inefficiency through modern data engineering and automation. Unlike traditional RCM companies, which aim to make manual clean-up work more efficient, Candid improves touchless claim rate, which is the percentage of claims submitted, processed and adjudicated correctly the first time with no manual intervention. Candid's platform significantly increases the number of claims submitted correctly the first time, eliminating avoidable, manual work for billing teams. This results in higher net collections, lower cost to collect and seamless scalability as providers grow their operations.
"Candid's automation and our modern rules engine allow for accurate payment resulting from the first claim submission. Our top performing customers consistently achieve >95% first pass resolution and net collection rates," said Nick Perry, CEO and co-founder of Candid Health. "Results like these are the reason we have seen such high adoption rates among providers and have caught the attention of industry authorities like MedTech Breakthrough."
A complex and adaptive payer landscape has proven challenging for legacy RCM vendors, where most automation providers only offer partial solutions that fail to meet the pace of change. In contrast, Candid's rules engine was built from the ground up, reimagining how to automate the complexity within the medical billing process by reverse-engineering hundreds of insurance rules continuously. With Candid's pre-configured rules as a foundation, providers can then overlay their own custom rules that satisfy the most nuanced use cases. The unparalleled combination of convenience and customizability from Candid ensures market-leading automation capabilities (including the most complex billing workflows), that reduce errors and denials while increasing claim accuracy and processing speed.
Candid's platform integrates with medical providers' existing technology infrastructure, including EHRs, billing, scheduling, payor management tools and more, enabling them to unify their data and automate end-to-end workflows seamlessly.
The MedTech Breakthrough Awards program celebrates excellence and innovation in the health and medical technology industry, recognizing the companies, products, and solutions driving meaningful progress and improving patient care. The awards highlight the groundbreaking work transforming the healthcare landscape.
This year's program saw a record-breaking number of nominations from leading companies and startups across more than 18 countries, showcasing the global impact and momentum of the digital healthcare industry today.
"Candid's platform addresses the root cause of RCM inefficiency through modern data engineering and automation," said Steve Johansson, managing director of MedTech Breakthrough. "Candid consolidates disparate tools into one platform, ensuring seamless workflows. By increasing the number of claims submitted correctly the first time, the platform eliminates avoidable manual work for billing teams and ultimately results in better patient outcomes through connected care."
Additionally, Candid's transparent reporting provides healthcare providers with real-time, detailed insights into their financial performance, enabling them to make informed decisions that optimize revenue collection and reduce inefficiencies. Candid's reports are interactive and actionable, so users can address issues in real-time. Beyond basic financials, Candid offers visibility into every aspect of the revenue cycle, from claim submission to final payment reconciliation.
About Candid Health
Candid was founded by Nick Perry (CEO), Doug Proctor (COO) and Adam Reis. The team is on a mission to simplify medical billing, allowing providers to focus on delivering quality care. Trusted by more than 200 leading healthcare organizations, Candid's revenue cycle platform leverages advanced automation to decrease the cost to collect and increase net collection rates. The company is backed by Oak HC/FT, 8VC, First Round Capital, and Y Combinator. Learn more at https://www.joincandidhealth.com/company.
About MedTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the MedTech Breakthrough Awards program is devoted to honoring excellence and innovation in medical & health technology companies, products, services and people. The MedTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough healthcare and medical companies and products in categories that include Patient Experience & Engagement, Health & Fitness, Medical Devices, Clinical Administration, Connected Healthcare, Medical Data, Healthcare Cybersecurity and more. For more information visit MedTechBreakthrough.com.
Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.
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