Swerve Pay Secures $10 Million Investment to Expand Patient-Centric Medical Billing Platform

Swerve Pay, a cloud-based, patient-centric payment platform that enables patients to pay their medical bills, has secured $10 million in funding from Chicago-based Galen Capital Group. The funds will be used to expand its provider network and hire top talent to accelerate its growth.

According to Accenture’s findings, 98% of patients will not use hospital or physician mobile applications, and 64% will not use web portals (Source: Harris Poll). Through Swerve Pay’s free platform, hospitals and physicians can engage in simple text-message exchanges with patients, enabling them to securely submit payments with a single click. This cloud-based system displays the right data at the right time, significantly optimizing patients’ payment solutions.

With its powerful, secure integration engine and backend automation, it enables healthcare providers to more easily and rapidly collect data on patient care before, during, and after recovery. This is achieved by communicating with patients via text messaging, one of the most effective and feasible methods available today. In addition to reducing unnecessary patient expenses, Swerve Pay lowers debt-related and administrative costs for hospitals. The ultimate result is increased cash flow into the hands of hospitals, healthcare systems, and practitioners.

Key features of the platform include:

Automatic Notification—Sending automated appointment reminders to reduce missed visits; for users of one-click payment, it balances the delivery of such notifications via SMS or email.
Seamless Integration—The payment platform is seamlessly integrated with existing patient management systems through feedback from augmented reality (AR) technology, making scheduling, billing, and information collection easier to manage.
One-Click Payment—Archiving security technology enables you to securely store patients' credit card information in the PMS or EHR.

Jaeme Adams, CEO and co-founder of Swerve Pay, stated in an official address: “We are thrilled to have the privilege of bringing this ‘all-star investment team’ onto the Swerve Pay board of directors.” As business elites turn their attention to healthcare, medical payments, and a growing number of large enterprises, this investment further validates that our innovations will continue to illuminate the path we have forged in transforming how patients pay for their healthcare.

Compiled by | Chen Kun

Editor: Zhang Nan