The new round of funding included investors such as Intermountain Healthcare, Inova Health System, and St. To respond to the changing healthcare payments landscape, iVinci is attempting to make healthcare billing more consumer friendly, and it closed $5 million in new funding earlier this month to support those efforts. Worse, all too often, they turn a positive patient care experience into a negative one. Solutions like online bill pay and recourse finance are fragmented and incomplete. It is a sea change that has profound financial impacts for both patients and health systems.Ĭurrent revenue cycle management (RCM) systems were designed to track claims and optimize payments by third-party insurers.
That percentage is predicted to increase as more costs are shifted to patients through higher deductibles. IVinci’s new patient billing and revenue management tool comes at a time when the proliferation of high-deductible health plans have increased patient obligations from less than 5 percent of health systems’ revenue to a whopping 20 percent in just a few short years. It tells patients exactly what they owe and when they owe it, then provides online management tools and financing options.” Increases in patient obligations means healthcare systems need to make billing more user accessible.Īccording to Venture Beat, iVinci Health is “launching a new patient portal, called the VisitPay Portal, which hospitals can use to simplify the selection, financing, and billing of health services for their patient customers.
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