Cylerity has hired Michael Saito, formerly of Epic, to lead operations and regulatory compliance as the healthcare fintech company expands its platform across healthcare providers, health systems and financial institutions.
Why it matters: Healthcare organizations routinely deliver care and incur costs weeks or months before reimbursement arrives. Cylerity is building infrastructure to make those future healthcare cash flows more usable as a source of working capital.
The company combines claims, reimbursement, operational and banking data to help healthcare organizations access liquidity while they wait for payment from Medicare, Medicaid and commercial insurers. Cylerity does not factor receivables; rather, it helps banks better understand and underwrite the financial language of healthcare. Higher fidelity financial data reduces risk; healthcare professionals are rewarded with lower cost of working capital from Cylerity’s banking partners.
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As Cylerity expands, the challenge is increasingly operational as well as technical: healthcare data, reimbursement rules, banking controls, provider workflows and regulatory requirements all have to work together. Saito will lead that layer.
“Healthcare finance is an orchestration problem,” said Ryan Wheeler, founder and CEO of Cylerity. “Clinical systems, claims, payors, banks and regulatory requirements all have to work together. Michael understands how complex healthcare organizations actually operate, and that becomes increasingly important as we scale.”
At Epic, Saito operationalized nationwide health data exchange frameworks, applying his deep understanding of the complex regulatory and operating environment of healthcare to lead the effort that gave large hospitals and clinics across the country a path to participate.
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