The capital from the round will be used to expand its platform, as well as offering more care bundles for orthopedic, spine and cardiac bills. Healthcare management technology provider R1 RCM agreed on Tuesday to acquire US-based digital payment software developer VisitPay for 300m, allowing several corporate investors to exit. Boise, Idaho, - Novem- Today VisitPay, formerly known as iVinci Health, announced the successful completion of a major funding. Total capital raised by VisitPay has reached up to $21.6m, with the company’s previous fundraise securing $5m in a funding round in 2014.Įarlier in the year, Carrum Health, a group healthcare payment solution, netted $6.5m in its seed funding round. Press Release iVinci Health Rebrands as VisitPay and Raises Funds to Fuel Growth for Patient Financial Health Platform. “VisitPay gives patients more control over the payment experience while reducing the administrative and financial burden of bad debt on the provider, freeing resources for what they do best: clinical excellence.” The US-based company recently re-branded from its original name iVinci Health and is currently used by around 22 hospitals across Utah and Idaho.įlare Capital executive partner Gary Gottlieb said, “In an era of high deductible plans where 75% of the American population struggles to pay any unexpected expense of more than $400, and as changing reimbursement rates narrow margins for hospital systems. The solution helps to simplify the billing process on both sides, while improving transparency. VisitPay is a cloud-based solution that enables hospitals and health systems to increase the levels paid on patient balances, by helping consumers manage their healthcare bills. The financing was led by Norwest Venture Partners and saw participation from Ascension Ventures. The firm joins the company’s $15m funding round which closed earlier in month. VisitPay (also known as Ivinci Partners, former iVinci Health) is a company providing a patient financial engagement platform. Patient financial health application VisitPay has received an undisclosed investment from Flare Capital Partners. Ivanoff is the CEO and founder of payment technology company iVinci, which is working with hospital systems on making it easier for patients to pay. Fintech insurtech wealthtech regtech ai cybertech esg news VisitPay Connect to CRM Summary Financials People Technology Signals & News Similar Companies About VisitPay equips healthcare distributors with tools and insights to manage the complexities of the patient receivables market.
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