PayZen founders (company pic)
Israeli startup PayZen is transforming healthcare payments with advanced AI and automation. By seamlessly integrating into EMR/EHR systems, we offer personalized payment plans that alleviate financial stress for patients while boosting revenue for health systems. The company raised $32 million in a Series B round of investment and a new $200 million credit warehouse from Viola Credit and a syndicate of insurance companies.
Founded by its CEO Itzik Cohen, COO/CFO Tobias Mezger and CTO Ariel Rosenthal.
PayZen says its data-driven approach has earned industry recognition and challenged the status quo in revenue cycle management. By simplifying the payment process and expanding access to care, PayZen is redefining the patient experience.
Fintech refers to new technologies that automate the delivery and use of financial services. Fintech helps companies, business owners and consumers better manage their financial operations, processes, and lives through new specialized software and algorithms that consumers and businesses alike can use on their mobile devices and home computers.
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PayZen states that its Fintech solution is an advanced technology that creates individual payment options that optimize repayment success and patient satisfaction.
“This latest round is the next step in our journey to remove financial barriers to care for patients,” says Itzik Cohen, CEO & Co-Founder at PayZen. “We are honored to have found partners in both our investors and our health systems network that share the same vision for the future. This milestone, marked by a highly competitive and oversubscribed round, positions us to continue perfecting our platform and bridge healthcare’s financial gap for good.”
Over the last 2 years, PayZen has consistently achieved a remarkable 6x YoY growth. It also boasts 100% customer retention and 132% net retention. PayZen aims to continue this momentum into the second half of 2024, bringing its affordable, customized healthcare payment options to even more Americans and introducing new AI-driven solutions that further address the affordability needs of patients.
