FinPay

Pre-care patient financial engagement and payment plans

Our take

FinPay tackles patient payments before care is delivered instead of chasing balances afterward. Its FinPass platform and engagement teams walk patients through what treatment will cost, verify benefits, set good-faith estimates, and put patients on compliant payment plans at or before admission. The core buyers are behavioral health and substance use disorder treatment operators, where episodes are expensive, stays are long, and post-discharge collections perform poorly; health systems and specialty providers also use it.

The company, based in King of Prussia, PA, raised a $15M growth round led by PeakSpan Capital in 2022 on top of earlier rounds, bringing reported total funding above $28M. Its flagship public case is Recovery Centers of America, which reported a 600% increase in pre-care payments and 450% higher overall collections in the first year. Partnerships like Opus EHR extend the model natively into behavioral health documentation systems. FinPay competes less with payment portals and more with the status quo of doing nothing before admission.

What it does

Pre-care patient financial clearance and education
Automated verification of benefits and responsibility estimates
Compliant payment plans and digital payments
FinPass digital experience from admission through discharge
Managed patient engagement teams as a service
Post-discharge balance follow-up

Where it's strong

Pre-care engagement model collects money at the point of highest patient willingness, before treatment starts.
Deep behavioral health and SUD specialization, a segment most payment vendors ignore.
Offers managed services, so providers without billing staff can still run the model.

What buyers should weigh

The model requires changing admissions workflows, which takes operational buy-in, not just software install.
Concentration in behavioral health means fewer references in acute or ambulatory settings.
No major funding or expansion announcements since the 2022 growth round.