Inbox Health, the platform modernizing consumer payments, announced it has completed a $15 million Series A financing round. This new capital will accelerate the company’s strategic growth as it continues to improve how health care billing teams and consumers communicate and transact. Commerce Ventures led the round with participation from new and existing investors, including venture firms Vertical Venture Partners, Healthy Ventures, Collaborative Fund, Fairview Capital, CT Innovations, and I2BF Global Ventures, as well as several industry-leading individuals including Bill Clerico, co-founder and former chief executive officer of WePay.
Billing companies and practices using Inbox Health’s platform benefit from a data-driven approach that engages consumers in a more efficient way, resulting in stronger financial results. Inbox Health’s data-driven platform makes it easy to automate and personalize consumer communication and bill delivery, providing increased clarity around charges and more convenient payment options which dramatically improves both consumer affordability and experience.
To date, Inbox Health has reached more than 2,400 practices and 14 million consumers across the United States, with several billion dollars of health care spending under management. As the company continues to grow, it expects to reach half of the U.S. population within five years.
Inbox Health’s communication platform enables billing teams to respond to consumer messages via Health Insurance Portability and Accountability Act (HIPAA)-compliant short message service (SMS), email, and real-time chat through a unified support interface. Working in tandem with integrated interactive voice response (IVR) and lockbox products, the suite of tools allows billers to streamline back-office operations and ensures consumers receive timely support for billing questions or issues, so they feel more confident to pay.
Inbox Health is changing the way people think about consumer billing. The company’s consumer billing communication platform helps medical billing teams streamline consumer engagement and support while creating exceptional consumer experiences. Using Inbox Health’s data-driven platform, billers easily automate and personalize consumer communication, providing consumers increased clarity and confidence around charges and more convenient payment options which dramatically improves profitability, collection rates and speed to payment.
This was reported by Inbox Health on April 5, 2021.