Flywire provides a data-driven affordability suite that modernizes patient payment processes by offering clear communication and multiple financial options, including payment plans and bill consolidation. This approach enhances revenue collection for healthcare organizations while simplifying the management of out-of-pocket medical expenses for patients.
Funding
$260.1M 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.
Founders
Product
Problem
Healthcare organizations face challenges in collecting patient payments due to complex billing processes and a lack of affordable payment options. Patients often struggle to manage out-of-pocket medical expenses, leading to delayed payments and financial strain. Manual reconciliation and limited insight into patient activity further burden healthcare staff.
Solution
Flywire offers a data-driven affordability suite designed to modernize patient payment processes and improve revenue collection for healthcare organizations. The platform provides clear communication and multiple financial options, including payment plans and integrated financing with the option to consolidate bills across multiple accounts. By engaging patients through their preferred communication channels and offering easy-to-understand payment options, Flywire enhances the patient experience and drives online payments. The solution also streamlines payment processes, eliminates manual reconciliation, and provides staff with complete billing insights.
Target Audience
Flywire targets healthcare organizations seeking to improve patient payment collection and streamline billing processes, as well as patients struggling to manage out-of-pocket medical expenses.
Features
- Data-driven affordability suite with multiple financial offerings
- Payment plans and integrated financing options
- Bill consolidation across multiple accounts
- Targeted patient engagement across multiple channels (paper statements, emails, and texts)
- Automated reconciliation and integrated reporting
- Dedicated support team