Paytient provides a Health Payment Account (HPA) that allows users to pay for out-of-pocket healthcare expenses through an interest-free line of credit, enabling manageable repayment plans. This solution addresses the challenge of high deductibles in health insurance, empowering individuals to access necessary care without financial strain.
Funding
$62.9M 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.
Founders
Product
Problem
Many Americans struggle to afford healthcare due to high deductibles and out-of-pocket expenses, often facing a difficult choice between their physical and financial well-being. Traditional payment methods can create barriers to necessary medical, dental, vision, and veterinary care.
Solution
Paytient offers a Health Payment Account (HPA), providing an interest-free line of credit specifically designed for healthcare expenses. This HPA, accessed through the Paytient card, allows individuals to pay for care over time with manageable repayment plans, working alongside existing health benefits like HDHPs, HSAs, and FSAs. Cardholders can swipe their Paytient card at the point of care and select a personalized repayment plan, automatically deducting payments from future paychecks or a linked payment method. By sponsoring Paytient cards, employers, insurers, and health systems can empower individuals to access and afford healthcare services without financial strain.
Target Audience
Paytient primarily targets employers, insurers, and health systems looking to enhance their benefits offerings and improve access to care for their employees, members, and patients.
Features
- Interest-free line of credit for medical, dental, vision, pharmacy, behavioral health, and veterinary expenses
- Personalized repayment plans with automatic deductions from paychecks or linked payment methods
- Integration with existing health benefits such as HDHPs, HSAs, and FSAs
- Paytient card usable at the point of care with providers in approved merchant categories, including select online merchants
- Mobile app for managing accounts and tracking expenses
- Sponsor-subsidized card options for employers and health systems