Digital healthcare billing firm Inbox Health scored $15 million in a Series A funding led by Commerce Ventures with participation from Vertical Venture Partners, Healthy Ventures, Collaborative Fund, Fairview Capital, CT Innovations and I2BF Global Ventures.
This information comes roughly a yr after the corporate closed its $3.5 million seed funding round.
WHAT IT DOES
The firm is centered on personalizing affected person billing. The know-how was designed to automate payments and provides sufferers extra insights into their fees. The startup additionally designed the system so sufferers can select completely different cost choices.
Patients can chat again and work with billing groups. According to the discharge, the corporate makes use of knowledge with a view to assist bolster monetary outcomes.
In 2014 the corporate was chosen as a part of StartUp Health’s new accelerator class.
WHAT IT’S FOR
The firm mentioned that the funding might be used in the direction of strategic development and creating its billing system.
“Medical billing has long been approached with a one-size-fits-all mindset, but we firmly believe a more personalized experience that meets patients where they are results in better outcomes for patients, billing companies and practices,” mentioned Blake Walker, cofounder and CEO of Inbox Health.
“One of our primary focus areas is continuing to grow our data set in order to drive more efficiencies and reduce pain points within the existing ecosystem. The new funding will help us scale those efforts to reach more billing companies and, ultimately, more patients.”
This is not the one digital affected person billing firm. Cedar, maker of an clever patient-billing and engagement platform landed $200 million in Series D in March. The firm has raised a complete of $350 million and boasts a $3.2 million valuation.
Another firm is MedPilot, a affected person monetary engagement platform, scored $1.5 million in February to assist develop its product-development line. Additionally, digital medical-payment firm, dubbed PatientPay, scored $6.15 million in 2020.