Fintech platform Price partnered with affected person financing supplier PatientFi in a collaboration that marks Price’s enlargement into the healthcare sector. The partnership goals to make elective medical procedures extra accessible to sufferers by streamlining the financing and onboarding course of for healthcare suppliers.
PatientFi built-in Price’s all-in-one automated workflow platform to simplify affected person onboarding, speed up monetary approvals, and enhance the shopper expertise. In accordance with the announcement, the mixing of Price’s workflows with PatientFi’s financing choices will assist healthcare suppliers cut back administrative burdens and enhance affected person acceptance charges for elective procedures.
Automating onboarding and underwriting in healthcare
Price’s platform is designed to optimise underwriting and onboarding workflows by leveraging a proprietary database of greater than 242 million small companies and over 1,100 real-time knowledge factors. The corporate experiences that this allows it to ship match charges of over 90 per cent and supply seamless software pre-fill capabilities, resulting in sooner and extra correct underwriting choices.
The platform combines compliance instruments, tailor-made workflows, and centralised case administration to streamline danger opinions. For PatientFi, this consists of options similar to prompt API-based verification of Nationwide Supplier Identifier (NPI) and state medical licenses, SSN-optional identification checks, and customised alerts. By integrating Know Your Buyer (KYC), Id Verification (IDV), fraud detection, and credit score checks right into a single circulate, PatientFi can onboard clients extra rapidly.
“At Price, we’re obsessed with eradicating limitations and creating seamless monetary options that make an affect,” mentioned Sal Rehmetullah, chief government officer and founding father of Price. “Our integration with PatientFi is a chief instance of how expertise can rework the healthcare financing expertise, making life-changing procedures extra accessible to sufferers whereas streamlining operations for suppliers.”
Streamlining supplier enrollment and decreasing onboarding time
The collaboration has already yielded important operational efficiencies for PatientFi. The corporate reported that the brand new service provider onboarding and monitoring instrument from Price has lower its onboarding time for healthcare suppliers by practically 50 per cent.
“With built-in auto-lookup options, we will collect key particulars behind the scenes, letting us simplify the enrollment course of and ask fewer questions—with out including danger,” mentioned Lisa Kesterson, vp of danger and lending operations at PatientFi. “The result’s a smoother expertise for medical suppliers to enroll, who can begin providing financing sooner, and a win for sufferers, who get entry to care directly.”
Price, based in 2023 by Sal Rehmetullah and Suneera Madhani, continues to increase its companies throughout the healthcare, monetary companies, fintech, and credit score union sectors.
