Ivinci health llc1/21/2024 VisitPay, a Boise, Idaho-based healthcare payments startup, has raised $15 million in a round led by Norwest Venture Partners. Ascension Health, which invests on behalf of a number of health systems, contributed to the round as well. See reviews, photos, directions, phone numbers and more for Ivinci Health locations in Boise, ID. VisitPay also rebranded (it was formerly known as iVinci Healthcare) and announced a new customer, Intermountain Healthcare. It also allows patients to set up tailored installment. “Our cloud-based technology is in demand from patients and providers alike in this age of high-deductible health plans. “We are excited to begin this next stage of our journey and look forward to dramatically expanding the number of health systems and patient consumers we can serve.” It can be implemented across multiple billing systems in as little as 10 weeks,” Kent Ivanoff, CEO of VisitPay, said in a statement. VisitPay offers hospitals an online payment platform for patients. The platform allows patients to see what they need to pay by integrating data from the patient's health plan and data from the health provider. It also allows patients to set up tailored installment payment plans, all online. By making it easier for patients to pay for their care, the software helps hospitals increase the number of patients that make their payments. While the problem of patients not paying has always existed in healthcare, rising deductibles have made it more common, and more damaging, to health system bottom lines. Luke's Health System in Idaho and Orego, which has had VisitPay deployed since 2014, has seen a 50 percent increase in patient satisfaction ratings and a 20 percent increase in patient payment rates, according to VisitPay. Intermountain, which just began deploying the technology this past spring, is also seeing results. "The early results from our VisitPay implementation are extraordinary,” Bert Zimmerli, EVP and CFO at Intermountain, said in a statement. “In the span of a few months we’ve seen the number of patients who rate their billing experience as ‘good’ or ‘excellent’ improve by more than 40 percent.Boise, Idaho-based iVinci Health makes a series of patient billing and revenue management tools for hospitals and other healthcare providers. It’s now launching a new patient portal, called the VisitPay Portal, which hospitals can use to simplify the selection, financing, and billing of health services for their patient customers. It tells patients exactly what they owe and when they owe it, then provides online management tools and financing options. Increases in patient obligations means healthcare systems need to make billing more user accessible. IVinci offers another system that allows providers to predict when and how patients will pay, as well as an array of other forecasting, vendor management, reporting, and analytic tools to manage revenues. According to Venture Beat, iVinci Health is launching a new patient portal, called the VisitPay Portal, which hospitals can use to simplify the selection, financing, and billing of health services for their patient customers. 22 webinar hosted by Beckers Hospital Review and sponsored by. The company also says it’s completed a new $5 million round of funding. iVinci Partners, LLC - Other Health Care- Abdulla - SEC filings. The new round, which closed on September 3, was led by Intermountain Healthcare, Inova Health System, St. Luke’s Health System, and one other undisclosed large healthcare system. “iVinci provides effective solutions that help us work with our patients to manage their obligations because they simultaneously provide our patients with easy-to-use online tools for managing, paying, and financing their healthcare bills.” “We find that patients are becoming increasingly challenged by health plans passing a higher percentage of each final bill onto them for payment,” said Dr. The company took a $1.7 million funding round last April. The new funding brings iVinci’s total up to roughly $6.75 million. The company says it will use the new money to fuel its national expansion and to promote the new patient portal product. While there are any number of reasons why people pay or don’t pay their medical bills, two stand out as the most common confusion over what is truly owed and a dearth of relevant financing. “While there are any number of reasons why people pay or don’t pay their medical bills, two stand out as the most common - confusion over what is truly owed and a dearth of relevant financing options,” iVinci Health’s CEO (and former Capital One exec) Kent Ivanoff says in a statement. “Our VisitPay Portal takes a very consumer-friendly approach to solving both of these problems for patients,” Ivanoff says.
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