Collectly vs InstaMed (J.P. Morgan)
Two Patient Payments & Billing vendors, side by side. Facts from public sources; judgments are ours.
At a glance
Derived from public facts · a rough scale, not a ranking
| Collectly | InstaMed (J.P. Morgan) | |
|---|---|---|
| Pricing model | Subscription (per user or PMPM) · module and volume based, quote only | Per-transaction / per-chart · Custom transaction and card processing fees |
| Speed to go live | 4 to 8 weeks with EHR sync | Integration project with your EHR and PM systems |
| Automation model | Software platform · patient billing plus AI agents | Data / network utility · Healthcare payments network |
| Built for | Mid-size groups, Enterprise systems, Billing companies | Small practices, Mid-size groups, Enterprise systems, Payers |
| Security posture | HITRUST, SOC 2 Type II, PCI DSS, HIPAA | SOC 2 Type II, HITRUST, PCI DSS, HIPAA |
| Company maturity | 9 yrs (est. 2017) | 22 yrs (est. 2004) |
| Financial backing | $34M · Series A | Subsidiary of J.P. Morgan (acquired 2019) |
| Named customers | None public | 4 named |
| Published results | Specific numbers public | Specific numbers public |
| Documented integrations | 4 listed | 5 listed |
| Third-party validation | None found | None found |
Bottom line
- Pick Collectly if patient balances sit unpaid for 60+ days and you want digital-first statements and payments live within two months.
- Pick InstaMed if you want bank-grade payment rails backed by J.P. Morgan connecting patients, providers, and payers at any scale.
Collectly
Automated patient billing for medical groups
- Founded
- 2017
- HQ
- Santa Monica, CA
- Stage
- Series A
- Raised
- $34M
What it does
- Digital-first patient statements by text and email
- Self-serve payments and flexible payment plans
- AI agents answer patient billing questions
- Automated follow-up sequences until balance resolution
- Collections and DSO analytics for billing teams
- Connects to 30+ EHR and PM platforms
Where it's strong
- Purpose-built for medical groups and ambulatory practices, with quick EHR-connected deployment instead of an enterprise implementation.
- Publishes strong outcome claims: patient collections up 75%, DSO down to about 12 days, 93% patient satisfaction.
- Sapphire-led $29M Series A and 3x annual revenue growth suggest real momentum in the mid-market.
What buyers should weigh
- It has raised $34M against far larger competitors like Cedar, so weigh long-term vendor durability for enterprise commitments.
- Named customers are scarce in public materials; insist on references from groups your size and specialty.
- Hospital-scale organizations with deep Epic workflows are outside its sweet spot.
Integrations
InstaMed (J.P. Morgan)
Healthcare payments network connecting providers, payers, and patients
- Founded
- 2004
- HQ
- Philadelphia, PA
- Stage
- Subsidiary of J.P. Morgan (acquired 2019)
- Raised
- n/a
What it does
- Patient payment collection online, mobile, and point of service
- Epic MyChart bill pay integration
- Payer-to-provider electronic payments (ERA/EFT)
- Digital wallets and saved payment methods (Secure Token)
- eStatements and paperless billing
- Real-time eligibility and claims connectivity
Where it's strong
- Combined gateway, processor, and sponsor bank in one vendor, backed by J.P. Morgan's balance sheet and payments infrastructure.
- One of the deepest Epic payment integrations on the market, with documented results like Mercy's 143% jump in online payment adoption.
- Network scale: over half of US provider organizations touch the InstaMed network, which helps with payer connectivity.
What buyers should weigh
- Post-acquisition, InstaMed is a product line inside a giant bank, so roadmap pace and support attention can feel corporate rather than startup-responsive.
- Best economics and experience assume you consolidate processing with J.P. Morgan; mixing acquirers gets less attractive.
- Contract pricing is negotiated and opaque; smaller groups have less leverage than the enterprise health systems the sales motion favors.
Named customers
Mercy Health System · University of Rochester Medical Center · Boston Children's Hospital · Catholic Health
Integrations
Compare against the rest of Patient Payments & Billing
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