Payer Compass, a Plano, TX-based provider of healthcare reimbursement technology and price transparency solutions, received a significant investment of undisclosed amount.
The round was led by Spectrum Equity, with participation from Health Enterprise Partners. As part of this transaction, Jeff Haywood, Steve LeSieur and Michael Radonich from Spectrum Equity, as well as David Tamburri from HEP, will join Payer Compass’s Board of Directors.
The company intends to use the funds to continue its growth while extending its comprehensive product offering serving health plans, self-insured employer groups, third-party administrators and brokers.
Led by CEO Greg Everett, Payer Compass is an innovative healthcare technology company providing healthcare reimbursement technology and price transparency solutions utilizing both proprietary technology and customer service. The company’s core software platform, VISIUM™, is used by a wide variety of customers including health plans, self-insured employer groups, third-party administrators and brokers to manage complex healthcare reimbursement and pricing strategies for Medicare, Medicaid and Commercial through its proprietary contract management system and claims pricing engine.
The company also provides INNOVATE360, a single-source reference-based pricing solution.
Payer Compass serves over 125 payer customers, representing nearly 1,000 employer groups and over two million covered people.