Collectly provides an all-in-one platform that automates patient billing operations and enhances the financial experience for healthcare organizations by integrating with any EHR or practice management system. The solution addresses the challenge of slow patient payments, reducing collection times from an industry average of 60 to 90 days to just one to two weeks, while increasing patient payment rates by 75-300%.
Funding
$33.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+2Founders
Product
Problem
Healthcare organizations face challenges in collecting patient payments due to outdated billing processes, complex medical bills, and a lack of patient engagement, leading to slow collection times and reduced revenue. Traditional methods often involve manual follow-up, paper bills that are frequently ignored, and difficulty in addressing patient inquiries, resulting in increased administrative costs and decreased profitability.
Solution
Collectly offers an all-in-one platform designed to automate patient billing operations and improve the financial experience for both healthcare providers and patients. By integrating with existing EHR and practice management systems, Collectly streamlines the entire post-service patient A/R process, from statement generation to collections. The platform facilitates digital check-in, in-person payments via POS terminals, and automated post-service billing workflows, including customizable billing rules, automated communication, and online payment plans. Collectly aims to demystify the medical billing process, boost patient collection rates, and improve patient satisfaction through transparent, predictable, and convenient financial interactions.
Target Audience
Collectly serves private practices, medical groups, billing and RCM companies, health systems, hospitals, insurance companies, and EHR/PM software companies seeking to streamline patient billing, accelerate cash flow, and improve patient financial engagement.
Features
- Digital check-in experience with smartphone-friendly interface, secure authentication, and self-served insurance eligibility verification
- In-person payment processing via debit/credit cards, HSA/FSA, Apple Pay/Google Pay, and automated payment allocation
- Automated post-service billing workflows with digital statements, customizable billing rules, and automated patient communication via text, email, and automated calls
- Online self-served payment plans and store card on file with AutoPay options
- Integration with existing EHR/PM systems for seamless data exchange and reconciliation
- HIPAA-compliant patient messaging and data storage
- Full-scale patient support team to handle billing inquiries and payment assistance
- AI assistant to help patients understand and pay their medical bills