Collectly, a California-based patient financial engagement software company, aims to modernize the health care payments system.
07/27/2023 2:20 P.M.
1 minute read
Collectly, a patient financial engagement software for medical groups, recently announced that it closed a round of $29 million Series A funding led by Sapphire Ventures. This latest investment brings the company’s total capital raised to $34.1 million.
“As the health care financial landscape grows increasingly complex, this raise will aid medical groups, billing and revenue cycle management (RCM) companies, as well as hospital and health systems to regain control with Collectly’s patient financial engagement software,” the company said.
A Tech Crunch article reported that Collectly uses “proprietary interfaces that integrate with electronic health records and practice management software to enhance patient billing operations.”
Collectly aims to bridge the disconnect between providers and patients, modernizing the “outdated” payments system with innovative software.
The company will use the new funding on technology and product development, as well as market expansion.
“We are also looking at emerging technologies, like ChatGPT,” Collectly cofounder Levon Brutyan told Tech Crunch. “AI is highly leveraged, so we are working on that as well to make sure that the patients will receive the best experience, understand their bills and that questions are resolved in a timely manner.”
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