PatientFocus Gears Up for Capital Raise
PatientFocus, the medical billing venture started eight years ago by healthcare finance entrepreneur David Frederiksen, is on the hunt for its first round of institutional money to scale and pursue big growth plans. Fresh off a recently completed tech pivot, Frederiksen’s business is growing and his results are impressive.
Out-of-pocket expenses are among the biggest headaches health systems – and their patients – face as the financial burden shifts to consumers. And then there’s the fact that most providers collect just five to 10 percent of patient account balances over $1000. So it’s easy to see why everyone involved is, well, pissed. And therein lies the opportunity.
To date, Frederiksen has grown through organic expansion and local angel capital. With market dynamics catching up to his business and fueling growth – you know, small things like patient experience, shift from volume to value, cost pressures on hospitals and consumerism – the dynamic Frederiksen saw brewing nearly a decade ago is coming to bear.