Repaytient
Year founded: 2020
Number of employees: 3
Founders: Tim Rooney, CEO, Chris Blakeley, COO, Kris Robbins and Lou Kelmanson
Amount of capital raised: $225,000
Notable investors: Render Capital, Kentucky Science and Technology Corporation
Explain what your company does: We increase cash flow by 30% and decrease collections overhead by 15% for mid-sized and large non-profit hospitals. We do this by offering hospitals and patients modern billing and payment solutions, including interest free payment plans. This service allows patients to pay their rising out-of-pocket healthcare expenses in a budget-friendly manner and also allows them to get access to the care they need when they need it without having to make sacrifices to their health due to cost.
What are some major milestones in the company’s history?
- Completed the XLerateHealth accelerator program in October 2020
- Launched our first hospital in November 2020
- Won Render Competition in September 2021
- Accepted into Village Capital FinHealth 2021 accelerator in October 2021
- Signed our fifth hospital in October 2021
- Hired Head of Growth in November 2021
What is your company working on right now?
We are currently working on new product development, adding hospital customers, and raising capital.
What’s on the horizon for your company in 2022?
We will launch our new billing and payments functionality in Q1 2022 which will allow us to deliver even more value to our hospital partners and their patients. We are also looking to complete our fundraising round in Q1/early Q2. These funds will allow us to scale our business development efforts more aggressively and grow our team to support new hospital partners.
Why grow your company from Kentucky?
We were founded by lifetime residents of Louisville and those who chose Louisville as their home. This is a great part of the country to live and work, and we want to be the next world class company to call Louisville home.
