DURHAM – PatientPay, a startup focusing on improving end-to-end patient payment solutions, is planning to expand hiring and improve its technology after having secured $6 million in new capital.
The firm has now landed $18 million from investors.
PatientPay
PatientPay focuses on anesthesiology, radiology, labs and other specialty medical groups.
“The most effective patient collections are those that offer flexibility, accuracy and transparency to the patient, as well as a workflow that’s natural for central billing groups,” said Tom Furr, CEO of PatientPay. “We’re grateful for the support of our investors, ensuring our long-term vision of providing specialty care medical groups with a patient payment platform for getting paid quickly and in full.”
A video from PatientPay offers an overview of its system.
PatientPay’s proprietary solution enables simplified billing, reconciling payments using existing insurance claims.
“PatientPay’s bills reconciles patient charges with the insurer’s explanation of benefits eliminating confusion,” the company says.
Leading the round is Teaghlach Family Office. Other funders included Esping Family Office and existing investors, among them San Francisco-based Mosaik Partners.
