Tally Partners With Liminal to Capture Multi-Billion-Dollar Opportunity in Specialty Healthcare Billing

BOSTON, July 22, 2026 /PRNewswire/ -- Tally, an AI-powered revenue cycle management (RCM) platform purpose-built for multi-site specialty healthcare providers, today announced a strategic collaboration with Liminal, a Founders' Studio that co-builds with top-flight and repeat founders. The partnership pairs Tally's agentic AI platform with Liminal's build capabilities to tackle one of healthcare's most persistent problems: the slow, costly, and error-prone process of getting providers paid for care they have already delivered.

The opportunity is substantial. The U.S. RCM (revenue cycle management) market exceeded $125 billion in 2024 and is projected to grow at a 6 to 8% annually through 2030 as providers replace manual, labor-intensive billing with automation. The timing reflects three forces converging at once: collapsing provider margins, surging payer denials, and a step change in AI capabilities. Median hospital operating margins now sit below 3%, the share of providers reporting denial rates above 10% has jumped from 30% in 2022 to 41% in 2025, and 63% of providers report RCM staffing gaps. For the first time, agentic AI can automate this high-variance billing work at a cost structure that was previously unattainable.

Tally, founded by Peter van Riper, a 25-year healthcare executive and former multi-site CFO who scaled and exited a dental company valued at $90M, is joined by co-founder Satish Cheema, a technology leader who helped architect the platform behind the growth of a kidney care company from $25M to $3.3B in enterprise value. Together, they are building an RCM system designed specifically for the specialty verticals that larger, hospital-focused AI vendors have largely overlooked.

Unlike point solutions that surface insights but leave the work to the provider's own billing team, Tally executes the full cycle from insurance verification and prior authorization through denials, underpayments, and payment posting. Every claim, exception, and outcome feeds Tally's proprietary Payer Behavior Graph, an ever-growing dataset of how payers actually adjudicate claims across procedure codes, documentation types, and reimbursement rules. Because Tally operates the billing rather than merely advising on it, the platform builds a data advantage that deepens with every client and every claim.

"Providers are getting squeezed from every direction. Margins are compressing, denial rates are climbing, and the billing talent to fight back is disappearing," said Peter van Riper, Founder and CEO of Tally. "The old playbook of throwing more offshore labor at the problem has run its course. Tally runs the actual billing workflow end-to-end with agentic AI and embedded specialists, so every claim we work teaches the system how each payer really behaves. That accumulated knowledge is something a pure-software tool simply can't replicate."

"We back founders taking on massive, structural challenges with genuine technical depth," said Sonny Vu, Chief Builder at Liminal. "Peter and his team have something rare. Deep operating credibility in healthcare finance combined with a data asset that gets stronger the more they run. Specialty RCM is a multi-billion-dollar market hiding in plain sight, and Tally is one of the few teams positioned to win it." 

About Tally
Tally is an AI-native revenue cycle management platform for multi-site specialty healthcare operators. It combines expert-run operations with a continuously learning data platform to help practices identify more of the revenue they are owed.

For more: tally-ho.ai

About Liminal 
Liminal is a Founders' Studio that co-builds with top-flight founders. Its portfolio spans co-founders of Twitter, Block (formerly Square), Pinterest, Medium, and WestCo; repeat founders with multiple exits; operators with a proven record of raising capital across ventures; and builders behind institutional crypto infrastructure, frontier healthcare platforms, and AI-native systems. 

Liminal is founded by Temasek, a global investment company headquartered in Singapore. 

Discover more: liminal.build 

SOURCE Tally, Inc.