Revenue cycle · Payer contracts, underpayments and patient estimates
Rivet
Rivet is revenue cycle software for physician practices and billing companies that models payer contracts, flags underpayments and denials, and creates patient cost estimates.
Strong fit
- Specialty practices that negotiate rates with many insurers
- Billing companies that chase underpayments for clients
- Practices that need Good Faith Estimates in seconds
Weak fit
- Large hospitals that need a proven inpatient tool
- Buyers who need a posted price
- Practices with few payer contracts
Bottom line
Rivet is a reasonable choice for specialty practices and billing companies that want contract modeling, underpayment checks and patient estimates in one tool. It suits outpatient groups that negotiate with many insurers. Hospitals should test it on their own claims first, since Rivet built it for outpatient practices.
Score breakdown
Weights: Outcomes 35% · Product 30% · Implementation 20% · Pricing clarity 15%.
Ted Ferrin co-founded Rivet in 2018 in Salt Lake City, Utah, and he is its chief executive. He started it as a tool to help mid-size physician groups manage their contracts with insurers.
Its Payer Performance tool stores each insurer's contract and fee schedule, compares rates with other payers using public price files, and models proposed terms before a negotiation. It then checks each payment against the contract and flags underpayments for recovery. One Rivet customer says negotiation prep that took one to two months now takes less than a week.
Its Patient Pricing tool checks insurance benefits and builds a Good Faith Estimate, the cost estimate the No Surprises Act requires, in seconds, with an option to collect payment up front. Its Claim Resolution tool gives billing teams worklists for denials, and Revenue Diagnostics forecasts revenue and flags likely denials.
Rivet says it has audited more than 500 million claims and remittances and created more than 5.5 million patient cost estimates. BoulderCentre for Orthopedics & Spine says it collected $898,000 using Rivet.
Rivet connects to more than 30 practice management systems and clearinghouses, including athenahealth, ModMed and AdvancedMD. It serves specialties from orthopedics to radiology, and it raised a $20.5 million Series B led by Catalyst Investors in 2022.
MD Clarity fits practices that want contract modeling, underpayment recovery and estimates from another vendor. Turquoise Health and Serif Health fit teams that want price transparency data for negotiations, and Adonis fits groups that want AI to work denials and claim follow-up.
Competitor landscape
| Vendor | Overall | Ease of implementation |
|---|---|---|
| Turquoise Health | 7.8 | 7.4 |
| Adonis | 7.8 | 7.6 |
| Serif Health | 7.3 | 7.6 |
| MD Clarity | 6.9 | 6.7 |
| Rivet | 6.8 | 7.2 |
Pricing
| Item | Detail |
|---|---|
| Model | Rivet sells its software by contract and does not take a percentage of the money it helps recover. |
| What usually drives cost | For Rivet, cost depends on which tools you buy, your claim volume, and the number of payers and contracts you load. |
| What to ask before you buy | Ask Rivet for a price for each tool, how long contract loading takes, and how it checks estimates against final bills. |
| Note | Rivet says customers keep all of the denied or underpaid money they recover. |
| Published pricing | Rivet does not publish a price list. |
Methodology
| Weight | Factor | What it measures |
|---|---|---|
| 35% | Customer outcomes | Whether buyers get measurable operational or clinical-workflow results after go-live |
| 30% | Product | Capability depth, reliability, and fit for the job the category buys |
| 20% | Implementation | How hard it is to stand up, integrate, train, and stabilize |
| 15% | Pricing clarity | Whether a buyer can model total cost without a mystery quote |
| Label | Meaning |
|---|---|
| Highly recommend | Strong outcomes and product with manageable caveats |
| Recommend | Solid fit for the right buyer; know the tradeoffs |
| Conditional | Only with a specific use case or heavy caveats |
| Not recommended | Avoid for most buyers in this category |
Read our full methodology for how we weight scores and assign recommend labels.