Xsolis

About Xsolis

Xsolis is a healthcare technology company founded in 2013 by Joan Butters and Jim Sohr. Butters, the CEO, has over two decades of experience in healthcare IT and operations, including a role as VP and General Manager of Strategy and Emerging Solutions at Optum before starting Xsolis. The company was established to address administrative inefficiencies and improve collaboration between healthcare providers and payers.

The company operates on a software-as-a-service (SaaS) business model, serving hospitals, health systems, and health plans. Revenue is generated through subscriptions to its proprietary platform. Initially bootstrapped, Xsolis secured a significant $75 million minority growth investment from Brighton Park Capital in 2021 to fuel its expansion. As of 2023, the company's estimated annual revenue was around $54.1 million, and it employed nearly 300 people.

Xsolis' core product is Dragonfly®, an AI-driven platform launched in 2023 that evolved from its previous CORTEX® technology. Dragonfly synthesizes clinical data from electronic medical records in real-time to generate a 'Care Level Score™,' which helps in determining the appropriate level of patient care and medical necessity. This platform provides a shared, objective view for both providers and payers, aiming to streamline utilization management, reduce administrative tasks, minimize claim denials, and manage length of stay. The technology combines predictive AI with generative AI tools to assist with clinical workflows, discharge planning, and creating appeal letters. Xsolis also offers supplementary services, including Physician Advisor Services and Denials Management Services.