Startup Technology Company of the Year
Revology Named Startup Technology Company of the Year by Technology Association of Iowa
IOWA CITY, IA – November 14, 2023 – Revology, an Iowa City based tech-enabled revenue cycle management firm, was named Startup Technology Company of the Year at the 2023 Technology Association of Iowa Prometheus Awards earlier this month. The award recognizes an early-stage Iowa technology company that demonstrates significant market potential, creativity, and a promising future.
Founded in early 2022, revology provides technology-enhanced revenue cycle management (RCM) services to hospitals, health systems, and physician groups. The company has a world-class team of almost 50 employees, many of whom are based in Iowa. Revology has signed on several customers and launched auxo, its proprietary technology solution that brings unparalleled transparency, automation, and efficiency to the revenue cycle process.
“Congratulations to revology for being awarded the 2023 Startup Technology Company of the Year,” said Brian Waller, president of the Technology Association of Iowa.
“A well-deserved honor; revology’s success and incredible growth in the healthcare space has been remarkable.”
The revenue cycle space has a tremendous need for revology’s products and services. Hospitals and health systems across the country face many market challenges that drive costs up and show no signs of slowing down. Increased payor denials, labor shortages, increased labor costs, and razor-thin margins result in a constant need for cash. By focusing on insurance follow-up – where 80% of total dollars owed for services rendered resides – revology is in a unique position to drive a high rate of return with specialized services and technology.
“We founded revology because we wanted to bring technology to the RCM market that doesn’t exist today – a true technology platform that revolutionizes the claims follow-up process,” said Chris Klitgaard, CEO and founder of revology. “I am thrilled with the recognition by the Technology Association of Iowa, and so proud of the entire revology team.”