Collectly

Tech-enabled patient billing platform for healthcare

Pasadena, California, United States

About Collectly

Collectly is a patient billing platform that simplifies the medical billing process for healthcare providers. It serves a variety of clients, including private practices, hospitals, and billing companies, by enhancing the patient payment experience from check-in to post-service billing. The platform integrates with existing Electronic Health Records (EHR) and Practice Management (PM) systems, allowing healthcare providers to streamline their billing operations. Collectly offers features like self-served payment plans, enabling patients to manage their payments online, which has been shown to increase collections by 23%. The company operates on a subscription-based model, charging healthcare providers for access to its services, which significantly reduces the time spent on billing inquiries and improves cash flow. Collectly's goal is to create a more efficient and user-friendly billing experience for both healthcare providers and patients.

Pasadena, CaliforniaHeadquarters
2017Year Founded
$33.5MTotal Funding
SERIES_ACompany Stage
Enterprise Software, HealthcareIndustries
51-200Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
Unlimited Paid Time Off
Stock Options
401(k) Company Match
Student Loan Contribution

Risks

Artera Marketplace's expansion with 50+ vendors poses a competitive threat to Collectly.
Pressure from investors for rapid growth may lead to strategic risks for Collectly.
Reliance on Russian engineers could pose geopolitical and workforce management challenges.

Differentiation

Collectly integrates seamlessly with existing EHR and PM systems, enhancing billing efficiency.
The platform offers self-served payment plans, increasing patient collections by 23%.
Collectly reduces billing inquiries by 80%, improving patient satisfaction and provider efficiency.

Upsides

Collectly's Series A funding of $29 million supports business expansion and innovation.
The rise of telehealth increases demand for integrated billing solutions, benefiting Collectly.
Blockchain adoption in healthcare offers Collectly opportunities for secure, transparent transactions.