PHILADELPHIA, PA and NEWPORT BEACH, CA (August 21, 2013) – InstaMed, the leading Healthcare Payments Network, announced today that it has established a capital facility of up to $5 million. The new capital will be used to support its rapid growth in healthcare payments volume processed and the increase in healthcare providers joining the InstaMed Network.
“The number of providers on the InstaMed Network continues to grow at a fast pace, especially as more health plans and TPAs connect to InstaMed and offer new payment capabilities to their provider networks,” said Bill Marvin, co-founder, CEO and chairman of InstaMed. “As InstaMed continues to deliver new, innovative payer-to-provider and patient-to-provider payment channels that leverage our unique, integrated healthcare and payment processing platform, we expect this rapid growth to continue.”
To stay informed about InstaMed’s educational webinars, white papers, market reports and articles, follow InstaMed’s healthcare payments blog: www.instamed.com/about/blog.
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