Billing software program startup Inbox Well being raised $15 million in sequence A funding. The startup builds programs to make it simpler to succeed in sufferers and reply questions on their invoice.
The New Haven, Conn.-based startup companions with third-party billing corporations. Because it was based in 2014, it now counts 2,400 practices amongst its customers.
With the funding spherical, led by early-stage investor Commerce Ventures, Inbox Well being plans to construct out its platform to succeed in extra billing corporations and practices throughout the U.S.
“The pattern is obvious that affected person out-of-pocket funds are rising yearly,” Commerce Ventures Founding Associate Dan Rosen mentioned in a information launch. “In the meantime, the client expertise has remained largely ignored, which leaves sufferers feeling overwhelmed and confused concerning the care they obtain and the quantity they owe for it. We’re excited by Inbox Well being’s pioneering method to fixing this drawback for suppliers, billers and sufferers, as evidenced by the step change enchancment in expertise and engagement their prospects report.”
Inbox Well being claims its platform can scale back billing prices, improve affected person funds and result in quicker collections. One problem the company is looking to address is the disconnect between scientific notation in EHRs and billing corporations’ inner software program.
One other main part of its platform is the flexibility for billing groups to reply to affected person questions utilizing HIPAA-compliant textual content messages, chat and emails.
The startup isn’t the one one utilizing affected person engagement instruments to enhance billing. Cedar, which recently raised $200 million in funding, can be seeking to make the method simpler for sufferers.
Photograph credit score: lbodvar, Getty Photographs