Waystar, which makes healthcare revenue cycle management software, buys Patientco, which provides patient billing and payments software, sources say for $450M+ (Michelle F Davis/Bloomberg)

    Michelle F Davis / Bloomberg:Waystar, which makes healthcare revenue cycle management software, buys Patientco, which provides patient billing and payments software, sources say for $450M+- Patientco is said to be valued at more than $450 millionWaystar CEO aims to provide more consumer-like experience
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    Waystar to Acquire Patientco to Bring True Consumerism to Health Care, Simplifying Repayment Procedures for Clients and also Providers

    LOUISVILLE, Ky., July 15, 2021/ PRNewswire/– Waystar, a leading carrier of healthcare settlements software, today announced a conclusive contract to obtain Patientco, a leading provider of omnichannel person payments, interactions and also interaction software application. The mix accelerates makeover in the medical care industry and also significantly enhances the client economic experience. With each other, Waystar as well as Patientco will supply patients consumer-friendly experiences when paying clinical bills, while streamlining exactly how providers obtain and process repayments both before as well as after treatment distribution. The combination goes through regulatory authorization and also customary closing problems.

    Waystar offers a venture, cloud-based software-as-a solution that streamlines and merges healthcare settlements, refining nearly a trillion bucks in health care cases every year. Patientco supplies a holistic view of the individual’s economic trip operating within both acute as well as ambulatory supplier HIT as well as treasury communities. Patientco’s platform helps with greater than $2 billion in client duty each year as well as offers quotes, layaway plan, financing options, monetary education and learning as well as counseling, and combined statements to greater than 30 million individuals. The brand-new mixed company will provide one of the most detailed health care settlement systems in the nation.

    ” Waystar’s function is to simplify medical care repayments. Patientco is the excellent partner for Waystar due to the fact that it helps us change the individual financial experience and dramatically minimize inefficient administrative prices, which are the most significant discomfort points in healthcare.” claimed Matthew Hawkins, Chief Executive Officer and also board member of Waystar. “Clients are more responsible for their medical care costs than ever, and also they anticipate modern, consumer-friendly communications from doctor as well as insurance companies. Together, we will better streamline just how individuals engage with doctor as well as give transparency, empowerment and simplicity of usage that needed to prepare as well as spend for health care. Service providers will certainly take advantage of increased person complete satisfaction and fuller compensation.”

    ” Patientco is happy to be joining forces with Waystar, which will enhance our innovation with even more exact individual estimates, streamlined invoicing and enhanced propensity to pay,” claimed Bird Blitch, Co-founder and Ceo of Patientco. “The mix of our modern technology and resources brings true improvement to healthcare settlements by maximizing the economic experience for both clients as well as suppliers.”

    In 2021, Waystar’s platform was named Ideal in KLAS for Claims & Clearinghouse. Waystar is additionally rated first in the market for patient payment modern technology by Black Publication Study. In 2021, Patientco got a Best in KLAS classification for Patient Financial Involvement Systems.