Full-Time
Payor Strategy
Confirmed live in the last 24 hours
Fay
1-10 employees
Affordable nutrition counseling with insurance coverage
Senior, Expert
San Francisco, CA, USA + 2 more
- Proven history of leading payor contracting, including direct negotiations with national / local players
- Strong knowledge of healthcare service payment strategies
- Expand and develop a strategy for payor contracting across existing and new health plans
- Proactively research, identify, build, and maintain relationships with key stakeholders at target health plans to identify opportunities for collaboration and partnership
- Develop individualized partnership proposals tailored to the needs of target health plans, keeping in mind the overall goal of increasing access to and delivering quality healthcare services
- Negotiate new contracts and more favorable rates to ensure maximum revenue and operational efficiency and compliance
- Direct and support the launch of new markets / new states via contracting with local, regional, and national payors
- Act as a highly metrics and process driven leader, optimizing collections and insurance / verification while working closely with the RCM team to develop a cohesive end to end reimbursement process
- Create, drive, and track KPIs and quality indicators for payors including contract volumes, rates and benchmarks
- Identify, track, and manage all contracts and contract terms; develop ongoing strategies for better contracting maintenance processes
- Maintain expertise with FFS and, when appropriate, risk based contracting (VBC) payments relative to dietician practice performance, member experience measures, clinical quality measures, and other related measures that drive total cost of care
- Recruit, retain, and mentor a top-tier payer function and team that can successfully scale with the organization
Fay Nutrition provides affordable nutrition counseling by connecting clients with qualified dietitians and nutritionists who accept insurance. This service significantly lowers the cost of professional nutrition advice, allowing clients to access sessions for as little as $10 or even for free, compared to the typical $300 fee. Fay operates both online and in-person, offering flexibility for clients who can choose between virtual consultations or face-to-face meetings. This hybrid model enhances client satisfaction and broadens market reach. Additionally, Fay supports dietitians and nutritionists by helping them get credentialed with insurance companies, which expands their client base and increases their revenue. The goal of Fay Nutrition is to make professional nutrition counseling accessible to everyone, particularly those managing chronic conditions or seeking general wellness.
Company Stage
Series A
Total Funding
$24.3M
Headquarters
Barrington, Illinois
Founded
N/A
6 month growth
↑ 50%1 year growth
↑ 50%2 year growth
↑ 50%
Simplify's Take
What believers are saying
- The recent $25M funding round led by prominent investors like Forerunner Ventures and General Catalyst will accelerate Fay's growth and market penetration.
- Fay's platform has already attracted over 1,000 registered dietitians across 50 states, indicating strong network effects and scalability.
- Partnerships with major insurers and companies like Google and Accenture enhance Fay's credibility and expand its reach to millions of potential clients.
What critics are saying
- The reliance on insurance partnerships means any changes in insurance policies or coverage could significantly impact Fay's business model.
- The competitive landscape in the healthcare and wellness sector is intense, requiring continuous innovation to maintain a competitive edge.
What makes Fay unique
- Fay's unique partnership with insurance companies drastically reduces the cost of nutrition counseling, making it accessible to a broader audience compared to traditional models.
- The hybrid model of both online and in-person consultations offers unmatched flexibility, catering to diverse client preferences and needs.
- Fay's support for dietitians in starting or growing their private practices, including credentialing with insurance companies, sets it apart from competitors who do not offer such comprehensive professional support.