Employee Benefits: Keeping Healthcare Accessible in the US
In this conversation, we hone in on employee financial wellbeing. I’m joined in episode 399 by Darius Chehrzad, Chief Commercial Officer at Paytient, a company focused on helping people better access affordable care.
Paytient works with employers, partners, brokers, and health systems to provide a healthier way to pay for out-of-pocket care expenses.
Questions For Darius Include:
- How does a tool like Paytient fit into an employer’s benefits offering?
- What does it mean to say affordability in healthcare has moved one step forward and two steps back?
- What is the effect of OOP increasing on our physical and financial well-being? What is the effect of members not being able to pay medical bills?
- What is the effect of this on providers?
- How does this come back in higher fees and premiums?
- What are the non-obvious implications that HR is missing?
- When employees are not getting care, what are the long-term effects?
- With this cycle of price increases and people not getting care, there seems to be a big focus on HDHP to try to keep costs down. How does Paytient help with this transition?
More About Paytient
Paytient is on a mission to help people live better lives by improving their ability to better access and afford care. Their financial technology gives Americans the funds they need to pay for the more than $400 Billion in out-of-pocket healthcare expenses (e.g., spending within deductibles, co-pays, co-insurance) that were billed last year.
For too long, there has been too much preventable financial harm and delayed or deferred care hurting patients and providers. Paytient envisions a fairer future, over the horizon, where every American can more easily pay for care and live a financially healthier life.
Founded in 2018, Paytient has raised $50 million from CoVenture and $7M from Inspired Capital, Lightbank, BoxGroup, Cultivation Capital, Crossbeam, and Lachy Groom Fund to fuel our mission and help employers, payors, providers, and patients better afford the status quo.
Solving this problem presents a generational, multi-billion-dollar opportunity to become the payments and financing layer for healthcare transactions in the US.