Health Payment Systems Closes $25M Funding

Health Payment Systems

Health Payment Systems, a Milwaukee, WI-based healthcare technology and services organization, raised $25M in debt and equity funding.

The round was led by SVB Capital, with participation from SV Health Investors, Hexagon, and Caltius Equity.

The company intends to use the funds to further develop its payment platform, increase staffing, and support geographic expansion.

Led by CEO Tom Policelli, Health Payment Systems (HPS) is a healthcare technology and services company providing PayMedix healthcare financing solution that aims to reduce the cost and complexity of the healthcare payments process to benefit providers, employers, patients and TPAs.

PayMedix increases health equity for all consumers by guaranteeing payments of all in-network allowed charges for participating healthcare providers. All consumers can schedule needed services, and their providers all know that full payment is guaranteed. All consumers at a sponsoring employer receive one simplified summary of all of their healthcare activity and know that PayMedix has served as a financial safety net if they needed one. All of these patients are guaranteed access to PayMedix regardless their credit histories. 

PayMedix has already processed more than $5 billion in payments.

FinSMEs

26/01/2023