#None #Trinity Capital #Healthcare Payments #Paytient

Paytient Secures $40 Million to Boost Market Expansion

Paytient, recognized for its innovative healthcare payments solutions, has successfully acquired $40 million from Trinity Capital. This strategic investment aims to enhance Paytient’s capabilities and broaden its footprint in the healthcare sector, facilitating better access and affordability for patients. As healthcare costs rise, Paytient is becoming a vital player in modern benefit design, particularly within large-group employer-sponsored plans and Medicare.

The funds will enable Paytient to expand its services into key markets, including alternative health plans and the ACA marketplace, aligning with the industry’s shift towards cost-smoothing solutions that are increasingly seen as essential. This shift is evident as employers and insurers integrate Paytient's offerings into their plans, aiming to transform patient experiences related to out-of-pocket healthcare costs.

Providing seamless access to care and manageable payment solutions is at the heart of what Paytient does. By embedding its services within health plans, the company empowers individuals to tackle healthcare expenses without the burden of interest or hidden fees. This approach encourages patients to opt for lower-premium insurance options, knowing that out-of-pocket costs will be reasonable and predictable. Moreover, this strategy has proven beneficial for employers as it aids in reducing overall premium expenditures and facilitates better decision-making amongst employees regarding healthcare plans.

Brian Whorley, the founder and CEO of Paytient, emphasized the significance of this partnership with Trinity Capital, stating, “This collaboration allows us to scale faster and meet the growing demand from insurers and employers looking for smarter, more human-centered ways to tackle the cost of care.” Over the last two decades, healthcare trends have seen a considerable transfer of financial responsibility to patients. Paytient aims to bridge this gap by incorporating the ability to manage costs into health plans, thereby fostering healthier decision-making and enhancing the overall healthcare system.

Currently, Paytient supports over 23 million members and collaborates with nearly 7,000 employers and insurers, including notable payers who embed cost-smoothing solutions within their offerings. This service has become a mainstay in several plans, enhancing accessibility and affordability.

Paytient is also making significant strides with its Medicare Prescription Payment Plan (M3P), which enables Part D beneficiaries to manage care payments over time. Serving a remarkable 40% of the Part D marketplace, this initiative stands out as one of the largest providers of such payment solutions in America. Additionally, Paytient has formed strategic alliances that enhance confidence among employees regarding accessing and affording healthcare. With a recent expansion of partnerships in the ACA marketplace—growing from 8 to 13 states—Paytient is set for a nationwide rollout by 2026 through a collaboration with a leading national insurer.

Jack McNamara, Director of Tech Lending for Trinity Capital, highlighted Paytient’s crucial role in alleviating the financial burdens faced by patients and the businesses serving them. Noting the urgency of addressing rising healthcare expenses, he pointed out, “Paytient is addressing a critical pain point for both patients and the organizations that serve them.” With a proven business model and a proactive leadership team, Paytient is well-positioned for sustainable growth.

Whorley accentuated that cost-smoothing should not merely be taken as an added feature; instead, it constitutes a fundamental transformation in how healthcare payments operate. He expressed a strong commitment to embedding these solutions into every health plan, regardless of insurance type, establishing Paytient as a pioneer in redefining payment structures in the healthcare industry.

About Paytient

Paytient is at the forefront of enhancing how Americans engage with healthcare expenses, offering innovative payment solutions that enable consumers to manage various out-of-pocket medical costs effectively.

About Trinity Capital

Trinity Capital Inc. (Nasdaq: TRIN) acts as an alternative asset manager focusing on delivering consistent returns through private credit investments. With a diversified structure spanning multiple financial sectors, Trinity partners with growth-oriented companies aiming for tailored capital solutions. Headquartered in Phoenix, Arizona, Trinity Capital maintains a dedicated presence across the U.S. and in London, reinforcing its status as a trusted partner in financial innovation.