The round, announced Wednesday and led by SignalFire, included participation from Link Ventures and 7Wire Ventures alongside previous investors Viola Ventures and Picus Capital. The funding brings the startup’s total investments to $20 million since it was founded in late 2019.
Healthcare costs in the U.S. are steadily rising, and the share patients must pay out-of-pocket has increased in tandem. Nearly one in three American households have delayed medical care due to its cost, per a 2019 Gallup poll.
PayZen, a mission-driven fintech company tackling healthcare affordability, today announced it has raised $15 million in Series A funding. SignalFire led the round, with participation from Link Ventures and 7wireVentures, as well as existing investors Viola Ventures and Picus Capital, bringing the total amount raised to $20 million.
Health system Geisinger, based out of Danville, Pennsylvania, is entering into the Artificial Intelligence arena, rolling out an AI-backed approach to medical billing whereby patients can select zero-interest payment plans that can be paid out over a timeline of their choosing.
Geisinger unveiled a customizable approach to medical billing Thursday (Aug. 19) that uses artificial intelligence (AI) and allows patients to choose zero-interest payment plans that can be paid off over whatever timeframe they choose, according to a press release.
Geisinger is partnering with fintech startup PayZen to launch an artificial intelligence-backed financing solution for patients. Any patient who has an out-of-pocket cost of more than $250 is eligible to create a personalized payment plan, according to an Aug. 19 news release shared with Becker's.
Fintech has transformed many aspects of financial services over the past decade. Technologies such as AI and machine learning, for example, have helped unlock credit access to the previously unbanked. Likewise, fintech is helping to reduce fraud, speed up processes and enhance user experiences—all of which has led to the great unbundling of financial services.
Capstone Health Alliance (Fletcher, NC) announced a new partnership with PayZen, a mission-driven FinTech company that uses data and Artificial Intelligence (AI) to create individualized patient payment plans that families can afford.
After Omry Ben David's wife gave birth via a C-section, the couple received an unexpected medical bill totaling $20,000.
Patient financing startup PayZen comes out of stealth, announcing $5M funding round and joins forces with Revenue Cycle Management firm RMS and digital health company Vim to provide interest-free payment plans via hundreds of U.S. hospital systems.
