Collectly

Collectly is a tech-enabled patient billing platform designed to streamline and enhance the medical billing process for healthcare providers. The company operates primarily in the healthcare sector, serving a diverse range of clients including private practices, medical groups, billing and revenue cycle management (RCM) companies, hospitals, and health systems. Collectly aims to simplify the patient payment experience from check-in to post-service billing, making it easier for patients to understand and manage their medical bills.

The platform integrates seamlessly with existing Electronic Health Records (EHR) and Practice Management (PM) systems, acting as an add-on that accelerates and increases patient cash flow. By offering features like self-served payment plans, Collectly allows patients to build and manage their payment plans online securely and conveniently. This transparency and ease of use have been shown to increase collections by 23%.

Collectly's business model is centered around providing a subscription-based service to healthcare providers. The company makes money by charging these providers for access to its platform, which helps them reduce the time and effort spent on billing and collections. The platform boasts impressive metrics, such as an 80% decrease in calls about billing questions, a patient net collection rate of 86-95%, and an average of just 12.6 days to collect a medical bill.

In summary, Collectly is revolutionizing the patient billing experience by making it more efficient and user-friendly. The platform not only helps healthcare providers improve their cash flow but also enhances the overall patient experience, making it a win-win for both parties.

Keywords: patient billing, healthcare, EHR integration, payment plans, cash flow, medical billing, revenue cycle management, patient experience, billing platform, healthcare providers.