InstaMed powers a better healthcare payment experience on one platform that connects consumers, providers, and payers for every healthcare payment transaction. InstaMed’s patented, private cloud-based technology securely transforms healthcare payments by driving electronic transactions, moving money and healthcare data seamlessly and improving consumer satisfaction. Everyone benefits from InstaMed’s exclusive focus on healthcare, integration into any healthcare IT system, robust analytics, and proven scale.
Our Story
InstaMed was founded in 2004 by Bill Marvin, President and Chief Executive Officer, and Chris Seib, Chief Technology Officer. Together, they saw early indicators pointing to an oncoming tidal wave of consumerism in the industry – specifically, that the signing of the Medicare Modernization Act and subsequent HSA legislation would require a new kind of infrastructure that did not exist in healthcare. With this, Bill and Chris set out to simplify healthcare payments for all stakeholders.
InstaMed’s payment solutions promote efficiency and automation in an industry otherwise plagued by high operational costs.
The mission to simplify healthcare payments for all is more relevant today than ever before. The drive to simplify healthcare payments has never been stronger, and it is a passion shared with the onshore team of more than 300 healthcare payments experts. InstaMed was built from the ground up to become healthcare’s most trusted payments network. Management has consistently demonstrated a track record for execution and a proven ability to scale. The tenured team includes industry thought leaders and recognized innovators.
The InstaMed Network thrives on relentless innovation in the healthcare payments space through the continuous release of next-generation technology to the market, including Apple Pay, point-to-point encryption and Member Payments – the first healthcare solution to allow consumers to pay any healthcare provider through their health plan portal. With over 50 patents already awarded, the future roadmap of innovation is promising for InstaMed.
InstaMed’s payment solutions promote efficiency and automation in an industry otherwise plagued by high operational costs. The Auto Payment Collect™ solution eliminates paper statements and automates payment collections for streamlined medical and premium payments. Additionally, the One Bill solution delivers a single, consolidated statement for all balances to simplify the billing and payment experience.
In the ever-changing landscape of healthcare payments, the goals for InstaMed remain simple and clear: to move money and data seamlessly, to deliver an excellent consumer experience, to keep all data safe and to simplify the end-to-end healthcare payments process.
Milestones
- Over $370 billion in healthcare payments processed
- Over 2 billion healthcare transactions processed
- Over 50% of U.S. healthcare provider organizations are registered on the InstaMed Network to receive electronic healthcare payments
- Soaring 76 Winner
- North American Deloitte Technology Fast 500 winner
- PACT Enterprise Awards Emerging Technology Company Winner
- Venture Summit Mid-Atlantic Top 100 Private Company
- PACT Enterprise Awards Technology CEO of the Year Winner
- Healthcare Innovation CEO of the Year Award
- First in healthcare payments to achieve P2PE v2.0 validation
- First company to achieve CAQH CORE Phase I, II and III certifications
- First company to achieve EHNAC healthcare and financial accreditations
