# Patientco Holdings

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/patientco-holdings

- Industry: Healthcare IT
- Headquarters: Atlanta, US
- Website: www.patientco.com
- Total disclosed funding: $32M
- Latest round: Series B (Jul 25, 2018)
- Investors on record: 3

## About

Patientco Holdings, Inc. offers innovative solutions to enhance healthcare revenue cycles, focusing on patient payment experiences through advanced software. The company aims to streamline medical billing processes for healthcare organizations across the United States.Founded in 2008 by Bird Blitch, Patientco Holdings, Inc. specializes in financial technology for healthcare revenue management, headquartered in Atlanta, US. The company was acquired by Waystar, Inc. in July 2021 for USD 450 mn, enhancing its operational capabilities. Bird Blitch, the CEO and founder, has previously contributed to other ventures in the healthcare technology space, reinforcing his expertise in the industry.Patientco Holdings, Inc. provides an integrated platform that leverages AI-powered software solutions to optimize healthcare revenue cycles, specifically enhancing patient payment experiences. Key offerings include Patient Payments, which facilitates a seamless payment journey through centralized channels and automated reconciliation. This service addresses the need for transparency and efficiency in medical billing, empowering healthcare organizations to manage patient collections effectively, thus improving financial outcomes. The company serves a diverse array of clients such as hospitals, ambulatory surgery centers, and billing services primarily in the United States, all aimed at elevating patient engagement and satisfaction.Patientco Holdings, Inc. operates on a subscription model, where healthcare providers pay for access to their suite of software solutions. Their Business-to-Business (B2B) partnerships allow for seamless integration with existing healthcare systems while delivering customized solutions. Revenue streams include various offerings such as Patient Payments and additional revenue cycle management tools. Clients typically enter into contracts that encompass comprehensive service packages, featuring functionalities like automated eligibility verification, price transparency, and denial management, supporting healthcare organizations to refine their financial operations while adhering to compliance standards and enhancing patient interactions.The acquisition by Waystar, Inc. is set to significantly bolster Patientco Holdings, Inc.'s growth, with plans to innovate and launch new products tailored to improve patient financial experiences. Recent funding from the acquisition, amounting to USD 450 mn, will aid in expanding their market presence within the healthcare sector. The company is targeting further geographic expansion across the United States, with an emphasis on increasing their footprint in underserved areas of the healthcare market, all while navigating the regulatory landscape to ensure compliance. The transaction is currently pending regulatory approval and customary closing conditions.

## Funding rounds

- Series B, Jul 25, 2018, $28M — Accel-KKR, BlueCross BlueShield Venture Partners
- Series A, Aug 17, 2012, $3.8M — BlueCross BlueShield Venture Partners, Sandbox Industries

## Investors

- BlueCross BlueShield Venture Partners (https://capitalatlas.ai/funds/bluecross-blueshield-venture-partners) — Series A, Series B
- Sandbox Industries (https://capitalatlas.ai/funds/sandbox-industries) — Series A
- Accel-KKR (https://capitalatlas.ai/funds/accel-kkr) — Series B