PHILADELPHIA, PA and NEWPORT BEACH, CA (May 6, 2013) – InstaMed, the leading Healthcare Payments Network, announced today that it has completed an internal round of funding to support the rapid growth of its nationwide network of healthcare providers and payers. InstaMed’s broad base of existing investors participated in this funding round.
“In the past year, we have seen the number of registered providers on the InstaMed Network increase by over 400 percent, and we expect this hyper-growth to continue for the next two years,” said Bill Marvin, co-founder, CEO and chairman of InstaMed. “Our product roadmap is focused on enabling our bank, payer, vendor and billing service channel partners to deliver innovative new payment channels and methods to connect providers with patients on the InstaMed Network. This new capital will enable us to increase our investment in growth and innovation.”
InstaMed is supported by a broad investor base of four funds and three publically traded companies.
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InstaMed simplifies every healthcare clearinghouse and payment transaction for providers and payers, all in one place. InstaMed enables providers to collect more money, get paid faster and reduce the time and costs to collect. InstaMed allows payers to cut settlement and disbursement costs with electronic payments. InstaMed’s single, integrated network simplifies the healthcare payments process for 400+ hospitals, 60,000+ practices/clinics and 100+ billing services; connects to 3,000+ payers; and integrates with 50+ practice management systems. InstaMed processes tens of billions in healthcare payments each year at a rate of more than $1,000 per second. Visit InstaMed on the web at www.instamed.com.
InstaMed Public Relations