PayZen

NEW PODCAST ALERT! In this episode,?Itzik Cohen, CEO of PayZen, joins?Irina Ahmad?to discuss the healthcare affordability crisis and PayZen’s goal to bring financial health to healthcare. They discuss how fintech solutions can ease the financial experience of accessing healthcare, how PayZen leverages AI and machine learning, and the future of the healthcare payment ecosystem. Listen here!?https://lnkd.in/g-ksXvYS

We are looking forward to attending this week's HFMA NJ Chapter and Philadelphia HFMA Annual Institute Wednesday through Friday! Meet with Matt Waxman and Joe Mullin to discuss AI, the regulatory environment, and all the hot topics affecting revenue cycle leaders in this ever-evolving healthcare space. Let us know if you'll be there or drop by Booth 29 to say hi!

Hospitals are already struggling with staffing shortages and financial pressure. Increased state and federal regulations only serve to add complexity and administrative burden. Meanwhile, patients face rising healthcare costs and high-deductible plans that shift the financial burden to them. It's critical for technology solutions to adhere to state and federal regulations including: ? No Extraordinary Collection Tactics ? Zero Interest and No Hidden Fees ? Adopting Patient-First Financial Practices AI-powered tools like PayZen provide patient-friendly payment plans and proactive financial assistance, creating a smoother experience for patients and staff alike. Hospitals can boost payments, remain compliant, and build patient trust—all while maintaining financial health. https://lnkd.in/gqWeTyH5 #HealthcareInnovation #RevenueCycle #PatientPayments #Automation #PayZen #HealthcareCompliance #AI

Over the past 9 months, Marshall Medical Center has: ?? Improved the patient experience by offering personalized, interest-free payment plans that reduce financial stress ?? Lightened the administrative burden on their revenue cycle staff with our fully automated system ?? Boosted financial outcomes, collecting $1.2M in incremental patient payments within the first nine months PayZen’s proprietary AI uses 30,000 data points to provide relevant offers that lead to a 78% enrollment success rate and state-of-the-art servicing keeps patients on track and supported from start to finish.

?? New Look, Same Mission! ?? We listened to our customers, teammates, and partners and are excited to unveil to you: our new homepage! https://payzen.com/ See more clearly how our AI-powered platform unlocks incremental revenue and cash flow to healthcare providers, while delivering an empathetic, high-quality experience for their patients. Together, we can make healthcare affordable for all. ?? #HealthcareInnovation #PatientCare #AffordabilityForAll #NewLook

"By prioritizing seamless integration with medical providers and focusing on reducing the financial strain on patients, PayZen is setting a new standard in the industry." Thank you, FinMed Partners, for featuring Itzik Cohen in today's CEO Chat. https://lnkd.in/gFE4xR-p

As insurance companies cover a smaller portion of rising healthcare costs, providers are increasingly tasked with collecting more from patients—?????? ?????? ?????????????? ?????????????? ?????? ???????? ???????? $100 ?? ?????????? ?????? ?????????????? ????????????????. This creates a strain on both the provider’s financial health and the patient’s experience. Enter PayZen, a modern solution for healthcare affordability. PayZen’s platform uses AI, automation, and seamless integration with EHR systems to offer patients customizable, interest-free payment plans, allowing them to manage medical expenses over time. Providers benefit from improved cash flow and reduced complexity, while patients gain access to care without financial stress. Better yet, now with the launch of the PayZen Care Card, patients now have a flexible payment option at the point of care, helping to prevent delays in treatment due to cost.

Today’s Vendor Spotlight is… PayZen What PayZen does (Elion’s take): - Healthcare payments platform that pays health systems on behalf of patients, then uses AI to create personalized, interest-free payment plans based on patients' ability to pay.? - Integrates with EHRs and financial systems to ingest relevant patient data, and works with patients to identify the right payment schedule for them. Founded: 2019 Total Funding: $240M Leadership: Itzik Cohen, Tobias Mezger, Ariel Rosenthal Core Differentiators (according to PayZen): - PayZen offers an efficient patient financing solution that leverages AI and automation to enhance payment collection.? - This approach helps healthcare providers receive payments more quickly and increases overall collection rates, while simultaneously improving the experience for both patients and staff. Learn more about PayZen at https://lnkd.in/edzmRBWd (And if you’re a healthcare vendor and want to get featured, claim and update your Elion profile today.)

Looking forward to visiting with some of the top providers and Revenue Cycle Leaders in Colorado next week! Keith Bourne, CPXP and Jake Puckett will be at Booth 14 for the HFMA Colorado Chapter Fall Summit. Stop by for a chance at our giveaway or to talk about the increasing importance of healthcare affordability.

Today, I’m incredibly proud to announce a major milestone for PayZen: we’ve just closed a $232 million Series B round in equity and debt, led by New Enterprise Associates (NEA). This round includes $32 million in equity and a new $200 million credit warehouse from Viola Credit and a syndicate of insurance companies. I’m thrilled to welcome Mohamad Makhzoumi, NEA’s Co-CEO, as a PayZen board member! Partnering with the right investor at each stage of our company’s growth is both an art and a science (with a bit of luck thrown in). We were fortunate to find strong alignment with the NEA team in terms of business philosophy, mission, market, and strategy. With their extensive experience and stellar track record, I look forward to collaborating with the NEA team as we guide PayZen into the future. This funding will enable us to continue leveraging our AI-powered platform to tackle healthcare affordability. Our proprietary AI/ML models and seamless EMR/EHR integration simplify patient payments for health systems while making it easier for millions of patients to access and afford the care they need. We’re committed to driving innovation in the Revenue Cycle Management market and are excited to expand our affordable, customized healthcare payment options to even more Americans. This partnership with NEA brings back memories. Twenty-five years ago, I fondly recall pitching Webex Communications to NEA alongside my then CEO and mentor, Subrah. That investment certainly worked out for everyone! Time seems to fly, but it’s comforting to know that some things remain constant. I want to thank all the investors and individuals that supported us along the way (Viola Ventures, Omry Ben David, SignalFire, Chris Scoggins, 7wireVentures, Lee Shapiro, Alyssa Jaffee, Ido Vigdor). Mostly, I want to thank my team for raising the bar every day, creating magic and making all of this possible. #healthcare, #fintech, #affordability, #RCM,