Four prominent health systems have led a $5 million round of investment in Boise, Idaho-based iVinci Health, developer of the VisitPay revenue management platform.
The new round of funding, which closed on September 3, was led by Salt Lake Citys Intermountain Healthcare; Inova Health System of Falls Church, Va.; St. Lukes Health System, headquartered in Boise; and a fourth unnamed system iVinci executives said was based in the Pacific Northwest.
The company also announced the launch of a new extension to VisitPay, an online payment and financing portal that provides a way for patients to manage their medical bills and set up financing plans for balances owed by them and their families. Company executives said the portal simplifies the medical billing process so patients know exactly what they owe, when they owe it, and then gives them online management tools and financing options so they can choose how to pay in a way that works best for them and their family.
iVincis patient revenue management system is comprised of three solutions the company says collectively enable health systems to capture more patient-driven revenue. In addition to the new portal, iVinci offers patient scoring and segmentation that provide health systems with unprecedented accuracy in predicting when and how patients will pay.
The system also provides a patient revenue intelligence center that includes forecasting, vendor management, reporting, and analytic tools to manage every aspect of their patient revenue business.
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