Flychain

Flychain is a financial technology and services company serving small to medium-sized healthcare providers in the United States, with a particular focus on independent practices such as ABA therapy clinics, home health agencies, dental and therapy practices. The company describes its offering as a "Financial Operating System" (also referred to as a "financial control tower") that combines working capital, automated accounting and bookkeeping, insurance revenue intelligence, savings opportunities and valuation services in a single platform.

The stated premise is that independent providers face structural cash flow gaps because insurance reimbursement arrives long after care is delivered - typically 30 to 90 days for dental claims and longer where denials, resubmissions and post-payment utilization reviews are involved - while lacking the billing departments, credit lines, CFOs and treasury functions available to larger, often private-equity-backed provider groups. Flychain positions its products as bringing that infrastructure to practices at a cost they can afford, so that owners are not forced into predatory borrowing, deferred owner compensation or a sale to a consolidator.

Current product elements described by the company include monthly closed and reviewed books with explanation, benchmarking, budgeting, alerts and recommendations intended to give practice owners a CFO-level view, a capital program, contracted-rate insights used in payer negotiations, and multi-location performance reporting.

Founding story

Co-founder and CEO Ethan Schwarzbach began investigating the problem after observing that his father, a dentist running a thriving practice, went months at a time without paying himself. Schwarzbach traced the cause to insurance payment lags and the absence of working capital options, then concluded through further research that the same gap between delivering care and receiving payment affected small and mid-size providers across healthcare specialties dependent on insurance reimbursement. While at Ocrolus, working with lending data modeled on insights from Square's merchant processing infrastructure, he identified revenue cycle management companies and billers as holders of the claims, payment, denial and time-to-payment data needed to underwrite small healthcare practices. He met co-founder and CTO Jaime Deverall through the MoVi Community, a network for fintech founders and operators, and the two started Flychain based on a shared interest in using fintech to serve small businesses.

Business model

Flychain sells financial products and services directly to independent healthcare practices, combining lending/working capital with recurring accounting, bookkeeping and analytics services. It has also pursued white-label distribution, embedding its Financial OS into revenue cycle management, EMR and practice management platforms that offer it to their provider customers as a value-added service.

Sources describe working capital provided at stated interest rates plus ongoing bookkeeping, accounting, reporting and advisory services (including valuation services), but do not specify pricing.

Traction

Customer testimonials on the company's site come from ABA, pediatric therapy, home health, home care and autism services operators, including practices operating across multiple states (Nevada, Texas, Colorado, Tennessee and Massachusetts in one case), and reference use of the capital program for opening additional locations. The company states its benchmarking data draws on hundreds of practices. Flychain was backed at pre-seed stage by Everywhere Ventures.

Latest developments

The company publishes ongoing industry and accounting content for healthcare providers, including analyses of payer mix concentration risk and the impact of the One Big Beautiful Bill on Medicare and Medicaid, and continues to market bookkeeping, capital, benchmarking and contracted-rate analytics to independent practices, with an emphasis on the ABA segment.