Waystar to buy Patientco
By HME News Staff
Updated 12:28 PM CDT, Mon July 19, 2021
LOUISVILLE, Ky. – Waystar, a provider of health care payments software, has announced plans to acquire Patientco, a provider of omnichannel patient payments, communications and engagement software. Together, the two companies will offer patients consumer-friendly experiences when paying medical bills, while simplifying how providers receive and process payments both before and after care delivery, according to a press release. “Waystar’s purpose is to simplify health care payments,” said Matthew Hawkins, CEO of Waystar. “Patientco is the perfect partner for Waystar because it helps us transform the patient financial experience and significantly reduce wasteful administrative costs, which are the biggest pain points in health care. Patients are more responsible for their health care expenses than ever before, and they expect modern, consumer-friendly interactions from health care providers an insurers.” Formed in 2017 through the combination of revenue cycle market leaders Navicure and ZirMed, Waystar has integrated several technologies onto its cloud-based platform. Other recent acquisitions include eSolutions, a leading provider in Medicare-specific revenue cycle technology solutions; Recondo, a patient estimation and prior authorization AI and RPA-driven technology; and Ovation, an AI-powered claims monitoring tool. Waystar is backed by EQT, CPPIB and Bain Capital; Patientco is backed by Accel-KKR and The Blue Venture Fund.
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