Navigation Links
iVinci Health Raises $5M to Fuel National Expansion, Announces Launch of Personal Finance Portal for Healthcare

BOISE, Idaho, Sept. 15, 2014 /PRNewswire/ -- iVinci Health LLC, the company behind the healthcare industry's first and only comprehensive Patient Revenue Management system, branded as VisitPay®, has successfully closed $5 million in new funding. The company also announced the launch of a new extension to VisitPay® – an online Payment and Financing Portal that provides an easy and convenient way for patients to manage their medical bills and set-up financing plans for balances owed by them and their families.

The new round of funding, which closed on September 3, was uniquely led by market-leading health systems that include: Intermountain Healthcare, headquartered in Salt Lake City, Utah; Inova Health System, headquartered in Falls Church, Virginia; St. Luke's Health System, headquartered in Boise, Idaho; and another undisclosed but highly-regarded health system headquartered in the Pacific Northwest.  After using the company's solutions, iVinci's first two health system clients, St. Luke's and the Pacific Northwest health system referenced above, initially became investors during the company's first equity offering in 2011.  In the latest round of financing, investing health systems were compelled by the power of VisitPay to drive a remarkable patient experience, its relevance in the face of growing patient obligations and the sizeable opportunity before iVinci.

"We find that patients are becoming increasingly challenged by health plans passing a higher percentage of each final bill onto them for payment," said Dr. David Pate, CEO at St. Luke's Health System.  "iVinci provides effective solutions that help us work with our patients to manage their obligations because they simultaneously provide our patients with easy-to-use online tools for managing, paying and financing their healthcare bills." Dr. Pate went on to say. "Now, more than ever, an exceptional billing experience needs to complement an exceptional clinical experience to engender patient loyalty."

iVinci Health's CEO, former Capital One executive Kent Ivanoff, believes that the market is primed for a solution that addresses the collection of patient balances and delivers a substantially more consumer-friendly online experience to healthcare billing.

"With the rise of high deductible plans and the corresponding rise in patient financial responsibility, there will be unprecedented demand for a different billing experience -- one that's on par with other consumer-driven markets.  Patients will choose where to get care -- based not just on the quality of the care itself but also on the financial management resources made available to them by healthcare providers," said Ivanoff.  "Billing is the last phase of a patient's experience with a health system.  Whether it fractures the patient relationship -- or positively enhances it -- is entirely a function of how consumer-oriented health systems become. Fostering patient loyalty, by providing patients choice and convenience online, is key to driving all of a health system's revenue, not just the portion owed by patients," said Ivanoff.      

The newest addition to VisitPay is the Patient Payment and Financing Portal that health systems can make available to their patients. The Portal simplifies the medical billing process so that patients know exactly what they owe, when they owe it and then gives them online management tools and financing options so they can choose how to pay in a way that works best for them and their family.

"While there are any number of reasons why people pay or don't pay their medical bills, two stand out as the most common – confusion over what is truly owed and a dearth of relevant financing options," said Ivanoff.  "Our VisitPay Portal takes a very consumer-friendly approach to solving both of these problems for patients."

iVinci's Patient Revenue Management system is comprised of three easy-to-implement solutions that collectively enable health systems to capture more patient-driven revenue.  In addition to the Patient Payment and Financing Portal, iVinci offers Patient Scoring and Segmentation that provide health systems with unprecedented accuracy in predicting when and how patients will pay.  The system also provides a Patient Revenue Intelligence Center that affords hospital staff a wide range of forecasting, vendor management, reporting and analytic tools to manage every aspect of their patient revenue business.

About iVinci Health

iVinci Health® is an entrepreneurial healthcare financial technology company with extensive expertise in both consumer finance and health system management.  The company has developed and launched the first and only Patient Revenue Management system for hospitals and health systems.  This proprietary, cloud-based platform enables hospitals and health systems to dramatically increase the amount they collect on balances owed by patients because it empowers patients to easily manage, pay and finance their healthcare bills online.  More information on the company and its solutions can be viewed online at

Dan Branley (206) 914-1231

SOURCE iVinci Health LLC
Copyright©2014 PR Newswire.
All rights reserved

Related biology technology :

1. Sequenom Announces Participation at the Lazard Capital Markets 8th Annual Healthcare Conference
2. Bayer HealthCares Cotavance® Drug Eluting Balloon With Paccocath® Technology Reduced Five-Year Target Lesion Revascularization Rates by 59 Percent in PAD Patients Compared to Those Treated With Uncoated Balloon
3. Organovo to Present at Lazard Capital Markets 8th Annual Healthcare Conference
4. Pharmasset to Present at the Lazard Capital Markets Healthcare Conference
5. inVentiv Health Selected to Provide Sales Operations Support for Santarus
6. Masimo to Present at 23rd Annual Piper Jaffray Health Care Conference
7. Hong Kong Department of Health to Combat Sudden Cardiac Arrest With Powerheart AEDs
8. Nations Best Health Care Organizations for Patient Satisfaction, Core Measures Honored by Press Ganey
9. Sequenom Announces Participation at the 23rd Annual Piper Jaffray Healthcare Conference
10. SuperNova Diagnostics® to Present at the 23rd Annual Piper Jaffray Healthcare Conference in New York City
11. Health Diagnostic Laboratory, Inc. Provides Largest Corporate Gift in Science Museum of Virginias History
Post Your Comments:
(Date:7/27/2018)... , ... July 27, 2018 ... ... Renewable Products Advocacy Group (BRAG®) and representatives of the Biotechnology Innovation Organization ... two groups’ recently-issued white paper, “Proposal for a Toxic Substances Control Act ...
(Date:7/25/2018)... SAN MATEO, Calif. (PRWEB) , ... July 25, ... ... innovator for in vivo research utilizing its state-of-the-art Digital Vivarium™ and Vium Cloud ... Laura Schaevitz, Ph.D., to Chief Scientific Officer. Additionally, the company announced the appointment ...
(Date:7/24/2018)... ... July 23, 2018 , ... ... biofield energy treated nutraceutical to increase immunity and improve anti-inflammatory, and immune function ... response assessed in the preclinical research were significantly reduced. Results are as follows:, ...
(Date:7/22/2018)... BOSTON, Mass. (PRWEB) , ... July 19, 2018 ... ... Adam Pottorff, a driven channel professional has joined their team. With more than ... leading business-growth initiatives, Adam will deliver his expertise as CallTower’s Channel Director for ...
Breaking Biology Technology:
(Date:8/14/2018)... LOUIS (PRWEB) , ... August 13, 2018 , ... ... to meet potential employers and explore opportunities with multiple health systems at once. ... travel. Virtual career fairs offer another, more efficient option for healthcare providers who ...
(Date:8/14/2018)... ... August 14, 2018 , ... ... monitoring solutions for the global scientific community, announced today the establishment of a ... new division is to foster and support scientific collaborations with ActiGraph’s academic and ...
(Date:8/9/2018)... ... 2018 , ... Plum Alley Investments, an innovative platform providing ... has invested in a sought-after $23 million Series A round for Mammoth Biosciences ... Biosciences , The biotech company is bringing to market the latest CRISPR innovations ...
Breaking Biology News(10 mins):