PayMedix offers a comprehensive healthcare payments platform that guarantees providers receive payment while giving patients simple, interest‑free financing and clear statements. The solution automatically aligns affordability with health‑plan designs and streamlines billing for TPAs, reducing collection risk and improving access to care. It also includes tools that help patients understand and manage out‑of‑pocket medical expenses.
Funding
$25M 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
Patients often face high out‑of‑pocket medical costs and confusing billing statements, while providers bear collection risk and administrative overhead from managing patient payments and payment plans.
Solution
PayMedix offers a unified healthcare payments platform that guarantees providers receive the full allowed amount for services, eliminating collection risk. The system integrates with health plans and third‑party administrators to automatically apply patient affordability based on plan design, providing interest‑free financing options. Patients receive a single, easy‑to‑understand statement and can pay over time through a secure online portal. The platform handles claim adjudication, combines insurer and patient portions into one ACH payment, and deducts a service fee that is typically offset by reduced bad‑debt write‑offs and lower administrative costs for providers. By aligning payments, affordability, and access, PayMedix streamlines the billing workflow without requiring changes to existing claim submission processes.
Target Audience
Primary customers are healthcare providers and physician practices, health plans and TPAs, and employers seeking to add a cost‑transparent benefit for their employees.
Features
- Guarantees full payment to providers by covering both insurer and patient portions after claim adjudication
- Interest‑free, low‑ or no‑interest financing options for patients, automatically aligned with plan design
- Consolidated monthly “SuperEOB®” statement for patients, aggregating all services and charges
- Seamless integration with existing PPO/HMO networks, TPAs, payroll, and supplemental coverage systems
- ACH payment processing with a single transaction per claim, reducing administrative effort and bad‑debt write‑offs
- Online patient portal for secure payments via bank accounts or PayPal, wallet access, and claim‑level details
- Dedicated implementation support and self‑service tools for providers, TPAs, and employers