PatientPay is a digital-first healthcare billing and payment solutions platform designed to help healthcare providers, including hospitals, medical groups, and revenue cycle management (RCM) organizations, collect patient payments more efficiently. The platform aims to simplify the patient financial experience by offering digital statements, mobile-friendly payment options, and flexible payment plans, thereby reducing administrative burdens and accelerating revenue capture. In August 2024, PatientPay merged with ClearGage to further expand its capabilities in the digital billing space, aiming to provide a more comprehensive, end-to-end patient financial experience. The company focuses on addressing the complexities of patient financial responsibility in specialty healthcare, leveraging behavioral data and timing logic to improve engagement and collection rates.
CLASSIFICATION
Company Type:Digital Health
Therapeutic Areas:-
Industry:Digital Health
Sub-Industry:Revenue Cycle Management (RCM) / Healthcare Payments
SIZE & FINANCIALS
Employees:51-200
Founded:2008
Ownership:private
Status:operating
FUNDING
Stage:Series C
Total Raised:$30.8M
Investors:Mosaik Partners, Mitchell Family Office, EFO Holdings, Teaghlach Family Office
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CORPORATE STRUCTURE
Key Partnerships:ClearGage (Merged 2024), iRCM (Partnership 2025), Higher Standards Inc. (Partnership 2024), Azalea Health, DrChrono
COMPETITION
Position:Challenger
Competitors:Cedar, FinThrive, InstaMed, MedeAnalytics, Greenphire, PayZen
LEADERSHIP
Key Executives:
Tom Furr - CEO
LINKS
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