Health iPASS Secures Funding from Fifth Third Capital Holdings

This investment from Fifth Third will allow us to continue to push back against the revenue cycle management status quo and drive industry-wide innovation.

Health iPASS announced today an investment from Fifth Third Capital Holdings, an affiliate of Fifth Third Bank, N.A. Health iPASS is a patient revenue cycle solution for medical practices looking to reduce or eliminate patient A/R and bad debt. The investment from Fifth Third will provide capital to help enable Health iPASS to offer a non-recourse guarantee of patient payments and will also fund several other upcoming company initiatives.

“We are always looking for innovations that help our customers with their most pressing needs,” said Ben Hoffman, Co-head of Strategy and Head of FinTech at Fifth Third Bank. “With its simple, intuitive, and comprehensive solution to the patient pay experience – for both patients and providers – Health iPASS is a company we are proud to support and we look forward to deepening our relationship.”

“Health iPASS started as a desire to address a clear need in healthcare with an idea and limited resources,” said Health iPASS Founder and CEO Rajesh Voddiraju. “As our company expands, we consistently seek ways to alleviate the financial pressures faced by healthcare providers due to the uncertainty of patient payments. This investment from Fifth Third will allow us to continue to push back against the revenue cycle management status quo and drive industry-wide innovation.”

About Health iPASS: Health iPASS gets your practice paid. High deductible healthcare plans are making it tougher to collect from patients, resulting in a significant reduction of provider operating income. Health iPASS transforms patient bad debt into guaranteed revenue, decreasing patient A/R in a way that your patients love. Our innovative product suite is designed to engage at every step of the patient journey, from pre-arrival to final payment. Throughout the process, we provide patients with peace-of-mind through price transparency, so they know what they owe. Health iPASS is committed to delivering better check-ins for patients and better revenue for medical practices.

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