Overdrive Health: AI-Native Medical Billing Services

Overdrive Health offers AI-powered medical billing services, helping healthcare providers get paid more money in less time. The company automates the entire medical billing and revenue cycle management (RCM) lifecycle to deliver higher-quality outsourced billing services at a fraction of traditional costs.

The Problem

Healthcare providers spend between 2% and 10% of their revenue just to get paid for services already provided. Claims can take weeks to months—or never—to be paid, often requiring extensive manual work. Providers face two difficult options: hire an in-house team of medical billers they lack expertise to manage, or pay a third party up to 10% of revenue with little visibility into actual collections efforts.

The Solution

Overdrive Health is an AI-native, full-stack medical billing company designed to pursue every dollar a provider is owed. By automating time-consuming tasks like insurance company phone calls, documentation quality checks, and benefit verification, even small claims become profitable to collect. This alignment of incentives means the company can collect money faster than traditional billing companies while maintaining consistent, high-quality collections percentages through a small team of expert billers supported by AI systems.

Current Status

Michael Schroeder, Founder

Michael is founder and CEO at Overdrive Health. Previously he worked building AI agents at healthcare unicorn EliseAI, and has a history of automating operations across real estate and recruiting at Up&Up and Citadel.

Overdrive Health is acquiring a traditional ambulance billing agency serving approximately 20 ambulance providers with over $50 million in claims per year. Since launching its AI agents, revenue per full-time employee has nearly doubled.

Market Focus

The company is starting with the $2 billion ambulance billing industry (part of the $40 billion U.S. ambulance industry). The technology and systems being built are designed to be broadly applicable across all medical verticals, with plans to provide RCM services to healthcare providers across specialties.