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About Paytient
Industries
Fintech
Financial Services
Healthcare
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$84.4M
Headquarters
Columbia, Missouri
Founded
2018
Overview
Paytient provides a platform that helps employees manage their out-of-pocket medical expenses more effectively. The service integrates with existing payroll systems, allowing employees to set up flexible payment plans for their medical costs. This means that instead of paying for healthcare expenses all at once, employees can spread the payments over time, making it easier to afford necessary treatments and medications. Paytient partners with employers and insurers to include this benefit in health plans, which can lead to higher employee satisfaction and retention. The company earns revenue by charging fees to these employers and insurers. The main goal of Paytient is to reduce the financial burden of healthcare costs, ultimately improving employee well-being and productivity.
Simplify's Take
What believers are saying
- Paytient secured $40M to expand into large group employer-sponsored plans.
- The rise of digital health wallets aligns with Paytient's mission for payment flexibility.
- Employers offering comprehensive health benefits could increase demand for Paytient's services.
What critics are saying
- Increased competition from fintech companies could threaten Paytient's market share.
- Regulatory scrutiny on healthcare payment plans may increase compliance costs.
- Economic downturns could impact employers' ability to offer Paytient's services.
What makes Paytient unique
- Paytient offers Health Payment Accounts integrated with existing payroll systems.
- The company partners with major employers and insurers like Anthem and Cigna.
- Paytient's platform improves employee satisfaction and retention through flexible payment plans.
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Funding
Total Funding
$84.4M
Above
Industry Average
Funded Over
4 Rounds
BoxGroupBenefits
Health Insurance
Dental Insurance
Vision Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
401(k) Company Match
401(k) Retirement Plan
Parental Leave
Stock Options
Growth & Insights and Company News
6 month growth
↓ -2%1 year growth
↑ 1%2 year growth
↓ -4%/PRNewswire/ -- Paytient, the healthcare payments company helping people better access and afford care, has secured $40 million from Trinity Capital, a trusted...
Paytient has secured $40 million from Trinity Capital to support its expansion into large group employer-sponsored plans, alternative health plans, the ACA marketplace, and Medicare. The funding will help Paytient enhance its cost-smoothing solutions, which are becoming standard in health plan benefits. Paytient currently serves over 23 million members and partners with nearly 7,000 employers, insurers, and providers. The company aims to make cost-smoothing a standard part of every health plan.
Paytient is pleased to announce the appointment of Dayne Williams to its Board of Directors.
IBS Intelligence (IBSi) is the world’s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. We take pride in covering 400+ technology vendors globally – the largest by any analyst firm in this space.
Paytient is Hiring for 5 Jobs on Simplify!
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About Paytient
Industries
Fintech
Financial Services
Healthcare
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$84.4M
Headquarters
Columbia, Missouri
Founded
2018
Paytient is Hiring for 5 Jobs on Simplify!
Find jobs on Simplify and start your career today