Full-Time
Payor Strategy
Posted on 7/23/2024
Fay
1-10 employees
Connects clients to affordable, insurance-covered nutritionists
No salary listed
Remote in USA + 2 more
More locations: San Francisco, CA, USA | New York, NY, USA
Remote
 Finance & Banking (1) |
|---|
- Proven history of leading payor contracting, including direct negotiations with national and local health plan payors.
- 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
- As the company continues to grow, recruit, retain, and mentor a top-tier payer function and team that can successfully scale with the organization
Fay Nutrition connects clients with qualified dietitians and nutritionists who accept insurance, making professional nutrition counseling affordable and widely accessible. It partners with insurance companies so sessions can be covered or offered at very low out-of-pocket costs, often around $10 or nothing, instead of the typical $300 per session. The service works through a hybrid model, offering both virtual consultations and in-person visits to accommodate client preferences. It also helps dietitians start or grow private practices by guiding them through insurance credentialing to expand their client base and revenue. Fay’s goal is to democratize access to nutrition care by reducing cost barriers while supporting nutrition professionals in building sustainable practices.
Company Size
1-10
Company Stage
Series B
Total Funding
$75M
Headquarters
Barrington, Illinois
Founded
N/A
Simplify's Take
What believers are saying
- Fay raised $50M Series B in 2024 at $500M valuation from Goldman Sachs.
- 93% of clients improve habits; 85% see better labs per app data.
- Partners with UnitedHealthcare, Aetna CVS, Google, and Accenture.
What critics are saying
- Noom captures 70% digital nutrition users with cheaper AI coaching.
- Teladoc bundles dietitian consults with Aetna, diverting Fay clients.
- UnitedHealthcare cuts reimbursements 25% in Q2 2026, slashing margins.
What makes Fay unique
- Fay connects clients with 2,500+ insurance-covered dietitians nationwide.
- Fay supports dietitians with credentialing and claim filing for private practices.
- Fay offers hybrid online and in-person nutrition counseling sessions.
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Company News
Fay announced a $50M Series B funding round led by Goldman Sachs, valuing the company at $500M. Existing investors General Catalyst and Forerunner also participated. This brings Fay's total funding to $75M. Fay connects individuals with insurance-covered Registered Dietitians for personalized nutrition and lifestyle counseling. The investment will accelerate growth and enhance offerings. Fay partners with major payors and employers to provide accessible nutrition care.
Fay, a leader in digital nutritional therapy, announced yesterday a $50 million Series B funding round led by Goldman Sachs at a $500 million valuatio
Nutrition startup Fay raised $50 million in Series B funding at a $500 million valuation, led by Goldman Growth Equity. Existing investors General Catalyst and Forerunner also participated. Fay connects patients with registered dietitians covered by insurance and has grown significantly since its 2024 launch. The funds will enhance data reporting on patient outcomes and cost savings. Fay's platform now hosts over 2,500 dietitians and offers AI-powered features for meal planning.
Fay, a San Francisco, CA-based company connecting people with registered dietitian nutritionists, raised $25M in funding.
Fay, founded by Sammy Faycurry and Mark Stefanski, has emerged from stealth with $25M in funding to revolutionize nutrition counseling. The $20M Series A round was led by Forerunner Ventures, with participation from General Catalyst and 1984. Fay connects people with Registered Dietitian Nutritionists, offering personalized nutrition counseling covered by insurance. The funds will accelerate growth, integrate with food service delivery platforms, expand insurance coverage, and enhance employer partnerships.