What You Should Know:
– Rivia Health, a healthcare revenue cycle management platform raises $3.25M in seed funding round led by PHX Ventures.
– The seed funding will fuel the company’s expansion plans, including enhancing its patient payment solution and entering new markets across the US.
Streamlining Payments, Improving Efficiency
The healthcare digital payment market is experiencing exponential growth, driven by factors like rising healthcare costs and increasing adoption of digital technologies. Founded in 2018, Riva Health addresses a critical pain point in the healthcare industry: complex and often frustrating patient payment experiences. Their intelligent platform leverages digital communication, smart messaging, and convenient payment tools to remove common barriers to collections, allowing patients to easily settle their bills. This solution not only benefits patients but also streamlines operations for healthcare providers, seamlessly integrating into existing systems and boosting efficiency.
Strategic Growth and Market Expansion
The healthcare digital payment market is experiencing exponential growth, driven by rising healthcare costs and the increasing adoption of technology. Rivia Health is poised to capitalize on this trend by:
- Expanding its patient payment solution: The company will leverage the funding to enhance its platform features and functionalities, further simplifying and personalizing the payment experience for patients.
- Entering new markets: Rivia Health will expand its reach beyond its current footprint, bringing its innovative solutions to healthcare providers across the country.
- Simplifying medical billing: The company’s mission remains focused on making medical billing and payments easier for both patients and providers, contributing to a healthier financial ecosystem in the healthcare industry.
