Healthcare Startup Tackles $32 Billion in Annual Invoice Overpayments
Spendrule, an AI-powered platform launched in 2025 by Joseph Akintolayo and Chris Heckler, automatically checks whether hospital invoices for services like laundry and maintenance match vendor contract terms in real time.
The startup addresses a blind spot in healthcare finance. While supply chain spending is closely tracked, purchased services-a $323 billion industry-largely goes unmonitored. Hospital systems lose more than $32 billion annually to preventable overpayments, according to industry estimates.
The Problem: Contracts Nobody Reads
Healthcare systems store contracts in document management software, vendor data in ERP systems, and process invoices through separate accounts payable solutions. These three systems don't communicate.
"There's too much unique information and no way to standardize it," Akintolayo said. "Contracts are drafted years prior, only to never be revisited, despite numerous amendments being tacked on over time."
Vendors often aren't intentionally overcharging. With no streamlined process to track amendments across multiple contracts, mistakes compound. Rather than prevent overpayments, many hospital systems hire audit companies to recover money after the fact-paying 20 to 40 percent of recovered amounts in fees.
How Spendrule Works
The software digitizes contracts and treats them as active documents rather than static files. When an invoice arrives, the system compares it against the original agreement to flag discrepancies.
"We've built a technology that can digitize all these contracts, give them a brain, and turn them into a calculator," Akintolayo said.
Purchased services account for almost half of hospital non-labor spending, yet most of that spend goes unmanaged. Spendrule aims to reduce administrative burden by preventing overpayments before they occur, freeing resources for patient care.
Funding and Growth
Spendrule raised $2 million in seed funding in February and currently employs 10 people. The company plans to hire about 20 more over the next nine months and pursue another funding round.
Both founders bring experience in this space. Akintolayo previously launched a fintech startup and exited in 2024. Heckler founded Valify, a similar company that HCA Healthcare acquired.
Beyond Healthcare
Akintolayo sees the platform applying to real estate, construction, energy, and government services-any industry where contracts govern vendor payments.
"Our whole thing is to help people save from all these arguments, lawsuits, negotiations, and help payments move faster," he said.
For healthcare professionals managing budgets and vendor relationships, understanding how AI for Healthcare addresses spending oversight can clarify emerging tools in your organization. Those in billing roles may find the AI Learning Path for Medical Billers relevant to contract compliance workflows.
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