Native to the EMR, the acquisition automates the most manual work in revenue cycle management: the first and most critical step toward fully autonomous RCM for rehabilitation and physical therapy organizations.
CHANDLER, Ariz., July 15, 2026 /PRNewswire/ — Raintree, the leading electronic health record (EHR) and practice management platform for rehabilitation and physical therapy organizations, today announced it has acquired Spike Technologies, a developer of genuinely agentic AI voice technology for healthcare. The acquisition embeds AI voice directly into Raintree’s platform to take on the most tedious, manually intensive work in revenue cycle and patient engagement including payer calls, claim follow-ups, eligibility and prior-authorization, and patient outreach, and marks an important step toward fully autonomous revenue cycle management (RCM).
Revenue cycle work remains one of the most labor-intensive parts of healthcare. Physical therapy practices face an average claim denial rate of roughly 13%, and nearly three-quarters of those denials must be appealed. Front-desk teams spend ten minutes or more per patient on prior authorization alone, and most practices have had to add administrative staff simply to keep up. Industry analyses estimate that AI and automation in the revenue cycle represent up to $360 billion in potential annual savings. By putting genuinely agentic AI voice to work on this manual burden, Raintree and Spike aim to return that time to care.
Unlike scripted phone trees, rules engines, or chatbots layered on top of legacy workflows, the technology is genuinely agentic: AI voice agents that understand context, make decisions, and complete multi-step work, not a fixed menu of options. Because the capability is native to Raintree’s EMR rather than a bolted-on third-party layer, the agents act with full clinical, scheduling, and financial context. It is the foundational piece of a broader vision: fully integrated, agentic orchestration across the entire revenue cycle and patient engagement.
“Getting paid is the hardest, most manual part of running a therapy practice, and voice is where that burden is heaviest. We chose to take on the hardest piece first,” explained Nick Hedges, Raintree CEO. “We are not just optimizing operational efficiency for our clients, we are launching a seismic shift that will slash RCM expenses to an estimated 1%.”
For Raintree’s customers, the change is designed to be additive, not disruptive. Because the AI voice capability is built into the EMR they already use, there is no separate system to buy, integrate, or rip and replace. Practices can expect less manual phone and follow-up work, fewer touches per claim, faster cash, and more time for clinicians and staff to focus on patients.
“The industry has been flooded with ‘AI’ that is really just rule-based automation or a chatbot. We built something different: voice agents that genuinely reason and execute complex work, end to end,” said Povilas Gudzius, co-founder and CEO of Spike. “Doing that inside the EMR, with full context, is what makes this problem solvable at scale. Joining forces with Raintree allows us to bring autonomous RCM to the therapy market faster and have an impact on millions of patients with our technology.”
The combined team will continue to expand the capabilities across revenue cycle and patient engagement over time, building toward fully integrated agentic orchestration. Additional details on availability and roadmap will be unveiled at this summer’s TherapyCon in Austin, TX, August 19–21. The keynote presentation, “The Dawn of the Autonomous EMR,” will offer attendees an objective look at how AI-enabled operations have real-world impact on efficiency and administrative burden in rehab physical therapy. For details on the event, visit thetherapycon.com.
Financial terms of the transaction were not disclosed.
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About Raintree Systems
Raintree is the preeminent platform for enterprise and large-sized rehab physical therapy provider organizations. With a proven track record of success, Raintree provides automated solutions in patient engagement, clinical documentation, revenue cycle management (RCM), and business intelligence for multidisciplinary practices across all treatment settings. As the leading AI innovator in the rehab therapy market, Raintree delivers agentic AI solutions that transform clinical and operational workflows and deliver proven ROI-based outcomes for its clients while maintaining the highest standards of security and compliance, including holding SOC 2 Type II certification and offering the first ONC-certified EHR designed specifically for rehabilitation therapy. To learn more about Raintree, visit https://www.raintreeinc.com/
About Spike Technologies
Founded in San Francisco in 2022, Spike Technologies builds genuinely agentic voice AI for healthcare, automating the manual, high-volume work of revenue cycle management (RCM) and multi-modal patient care coordination — including insurance eligibility checks, prior authorization, claims follow-up, and patient outreach and scheduling. Backed by Silicon Valley and EU-based investors, including Practica Capital, The Venture City, Plug & Play, Geek Ventures, CEAS Investments, and NVIDIA Inception, Spike operates from Vilnius and San Francisco and has been recognized as one of the Baltics’ fastest-growing health AI startups. The company’s engineering team brings together deep technical expertise, featuring PhDs in ML alongside alumni from the University of Cambridge and tech companies like Google, Bloomberg, Oracle, and Amazon One Medical. To learn more, visit https://www.spikecare.com/
Contact:
Sorella Andersen
sorella.andersen@raintreeinc.com
SOURCE Raintree Systems