About

Collectly is a patient billing platform that improves the medical billing process for healthcare providers by simplifying the payment experience for patients. It integrates with existing Electronic Health Records (EHR) and Practice Management (PM) systems, allowing patients to manage their payment plans online securely. Collectly operates on a subscription model, which helps providers reduce the time spent on billing and collections, resulting in an 80% decrease in billing-related calls and a patient net collection rate of 86-95%. The goal is to enhance cash flow for providers while making the billing process easier for patients.

Simplify's Take

What believers are saying

• The recent $29 million Series A funding round led by Sapphire Ventures positions Collectly for significant growth and expansion.
• Collectly's impressive metrics, such as a patient net collection rate of 86-95% and an average of just 12.6 days to collect a medical bill, highlight its effectiveness and potential for high ROI for healthcare providers.
• The platform's ability to save medical providers up to $200 billion underscores its substantial impact on the healthcare industry.

What critics are saying

• The competitive landscape in healthcare fintech is intense, requiring Collectly to continuously innovate to maintain its edge.
• Dependence on seamless EHR and PM system integration means any technical issues could disrupt service and client satisfaction.

What makes Collectly unique

• Collectly's seamless integration with existing EHR and PM systems sets it apart from competitors who may require more complex implementations.
• The platform's ability to increase patient collections by 23% and reduce billing-related calls by 80% demonstrates a clear advantage in efficiency and user satisfaction.
• Collectly's focus on transparency and ease of use in patient billing enhances the overall patient experience, a critical differentiator in the healthcare sector.

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