PayZen

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,

🚀 We’re excited to announce that PayZen has secured $232 million in Series B funding led by New Enterprise Associates (NEA) with full participation from existing investors, including SignalFire, 7wireVentures, and Viola Ventures! The round includes $32 million in equity and a new $200 million credit warehouse from Viola Credit and a syndicate of insurance companies. This significant investment will continue to drive the advancement of our AI-powered platform and bring our affordable, customized healthcare payment options to even more Americans. A huge thank you to our investors, partners, and amazing team for making this achievement possible! 👉 Read about our Series B funding here: https://lnkd.in/gZveSkk2

We are delighted to share our latest partner success story with Marshall Medical Center! With PayZen, this independent California hospital saw an impressive $1.2 M in incremental patient payments within the first nine months of usage, all while delivering a high-quality, empathetic patient experience 📈 But that’s not all – after PayZen’s seamless integration into Marshall’s Epic system, the hospital experienced: ✅ Reduced bad debt through increased signups for affordable payment plans ✅ Relief for revenue cycle staff through PayZen’s fully automated program ✅ Sustained financial independence and stability We are proud to support Marshall Medical Center in its mission to provide exceptional patient care, while maintaining financial health. Read the full story here → https://lnkd.in/gS-rxdrJ

A recent survey revealed that, on average, Americans have $1,164 worth of wiggle room for healthcare expenses per year - only $97 per month. This means that it no longer takes a major illness for medical costs to spiral out of control; even a minor injury will do it. There is a clear misalignment between patients’ ability to pay and the ever-rising costs of healthcare. PayZen's innovative, AI-powered solutions are designed to bridge this gap, proactively meeting patients where they are to ensure they can access and afford necessary care. The result? 👇🏽 Happier, healthier patients, and improved financial performance for providers. Learn more about PayZen and our mission to bring financial health to healthcare: https://lnkd.in/gdJhe4nz

See you in Vegas! 🎲✨The PayZen team is excited to attend the Healthcare Financial Management Association (HFMA) Annual Conference next week. Come by booth 244 to discover how PayZen’s innovative AI-powered platform unlocks incremental revenue and cash flow to health systems while delivering an empathetic, high-quality patient experience. Don’t miss your chance to win exciting giveaways! Plus, grab your team and join us during the Monday and Tuesday night receptions to be drawn by a local caricature artist. Looking forward to connecting with you there! #HFMAAnnual

We are excited to announce that PayZen has once again achieved SOC 2 Type II compliance 🔐 🎉 This designation serves as third-party industry validation that we provide enterprise-level data security. A special thank you to all who made this possible, and especially to Prescient Security, the worldwide leader in independent security and compliance attestation. Now and always, provider trust is at the center of our mission to bring financial health to healthcare. Learn more about our steadfast commitment to safeguarding our customers' data → https://lnkd.in/g3yFCNG4

When over 1,000 American consumers were given some hypothetical situations, they made it clear that—for most of them—they are ready to prioritize healthcare expenses. But with costs that often feel insurmountable, they need more flexible, intuitive options to afford their care. Our 2024 Healthcare Affordability in America Report offers a window into the stark disconnect that exists between patients’ willingness and ability to pay. Dig in and learn what providers can do to bridge this gap holistically, ensuring each patient has a path to access and afford necessary care. Read now —> https://lnkd.in/gbCRcacv

We surveyed over 1,000 consumers about the access and affordability of healthcare in the US. The findings point to a clear theme: patients want to access care and resolve their balances, but the bills are simply unaffordable. Consider that:    - 75% of respondents worry about affording unexpected medical bills - Over a third have skipped needed medical care in the past year due to cost - Respondents can afford up to $97 monthly for medical expenses on average Though 77% say making payments over a period longer than 12 months would make care more affordable, there is no one-size-fits-all solution to patients’ financial and care access issues. Read the report to dive deeper into the data on America’s healthcare affordability crisis, learn where providers can start in tackling the problem, and see where the market is headed in addressing affordability holistically (hint: it requires technology). Read now —> https://lnkd.in/g-UbQGuQ #healthcareaffordability #healthcareaccess

We are excited to showcase another success story from our amazing provider partner! Earlier this month, we hosted a webinar featuring Emily Goertz, VP of Revenue Cycle at The University of Texas Medical Branch. Watch the short highlight reel to hear firsthand: - Why Emily’s team sought an external patient financing solution - The importance they placed on automation and patient-friendliness  - How PayZen’s platform positively impacted both patient satisfaction and collection rates Kudos to the UTMB team for your commitment to enhancing the patient financial experience, and thank you, Emily, for your invaluable support! Watch now → https://lnkd.in/gjQMQdWE

Learn what's next for #fintech platform PayZen after the company announced a new c-suite hire.