Raises Funding from 8vc, Mubadala Capital-Ventures and Montage Ventures
Wellpay announces it has accelerated its public launch to provide relief for the millions of people burdened by medical bills brought on by the COVID-19 crisis. In response to the surge in demand from hundreds of providers and over 12,000 patients, all patients can now access a financial hub to request zero-interest and zero-fees payment plans for new and existing medical bills, and receive free billing advocacy services. Wellpay will also waive all platform fees for healthcare providers, offering immediate administrative and financial relief for providers and their front line staff.
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“As the spread of COVID-19 continues, many Americans find themselves experiencing unprecedented financial hardship due to unanticipated employment terminations, layoffs, and changes in health insurance coverage, compounding the already stressful medical billing and payment situations,” said Mohammad Gaber, CEO and co-founder, Wellpay. “Likewise, medical providers are working harder than ever to profitably run their practices, and deliver quality care. Our independent healthcare providers are the backbone of our healthcare system. With this pandemic they’re struggling to make ends meet while grappling with the complexities and operational burdens of patient billing.”
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Wellpay’s financial technology platform, powered by machine learning, enables patients to securely pay medical bills in seconds, or upload medical bills they wish to pay over time – Wellpay then negotiates, facilitates disputes, or provides a zero-interest, zero-fees plan. All payment plans, bill management, and communication is handled via the Wellpay platform. COVID-19 patients get a dedicated advocate for support via SMS text message. Patients can start by visiting wellpay.com or texting “Zero” to 80578.
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