Thank you to everyone who downloaded our Healthcare Payments white paper and who attended last week's webinar. We've had a lot of fun producing this content with Ryne Natzke and Melody Hendricks of TrustCommerce, and appreciate the positive feedback we've received from many of you. As Henri said last week, it truly was a "labor of love", and we are glad it has landed well.
Anyone looking to download the white paper can do so here. And if you just want a quick peek, continue reading below for a summary of our "Seven Trends to Watch in Healthcare Payments". Please keep the comments coming - we welcome ideas for the next version!
Note: FinMed Partners is hosting a networking event at Fado in Buckhead (Atlanta) next Tuesday 10/21 at 4:30pm. Let us know here if you'd like to be added to the invite.
DEAL NEWS
Sheridan Capital Partners invests in RCM system for SNFs
Brooklyn, NY-based National Care Systems (NCS) received an investment from Sheridan Capital Partners. NCS serves more than 1,700 skilled nursing and assisted living facilities across the U.S. with its billing and payroll software. According to the press release, the company supports a broad range of revenue cycle functions, including invoice generation, payment tracking, insurance claims processing, and regulatory compliance. Terms were not disclosed.
RevSpring accelerates growth with addition of Kyruus Health
Nashville-based RevSpring, a portfolio company of Frazier Healthcare, announced in late September that it is acquiring Boston-based Kyruus Health. Kyruus sells provider network information and search capabilities along with scheduling software to health systems, which will complement RevSpring's existing patient engagement and payments solutions. The deal is expected to close before the end of the year, and will increase RevSpring's revenues by about a third.
Leading consumer financing company Synchrony Financial (NYSE: SYF), which offers the CareCredit card for financing elective medical, dental and pet needs, has acquired Mechanicsburg, PA-based Versatile Credit. While not disclosed, we are assuming that PSG Equity sold its minority growth equity stake as part of the transaction.
Synchrony has been a participating lender on the Versatile platform for the past 15 years. With this deal, the company will now own and operate the Versatile waterfall lending platform outright, and intends to keep Versatile separate from the rest of Synchrony's business for now. This will allow Versatile to continue to work with its 30+ integrated prime, secondary, and tertiary lenders. Many of those lenders are direct Synchrony competitors, so it remains to be seen how many will continue with Versatile as Synchrony takes full control.
Attuned Intelligence emerges from stealth with $13M seed round
Last month it was Hello Patient raising $22.5 million in a Series A round to build out its end-to-end patient conversation platform. Now, Orlando, FL-based Attuned Intelligence has announced $13 million in seed funding led by Radical Ventures and Threshold Ventures. Attuned offers a "supervised voice AI platform" for hospital and health system call centers to immediately answer patient calls and resolve up to 70% of all interactions. The company's CEO and Co-Founder was formerly a DeepMind researcher and Head of Product is a former Google health lead.
Comerica acquisition vaults Fifth Third into Top 10 Bank list
Fifth Third's (NYSE: FITB) acquisition of Comerica will place it in the Top 10 U.S. banks by assets ($288 billion) and elevates the bank into the upper echelons of healthcare banking following the merger. The deal will bring together Fifth Third’s strong retail banking and digital capabilities, including healthcare-focused assets like Provide for healthcare lending and Big Data Healthcare in Treasury Management, with Comerica’s middle-market commercial banking franchise and footprint in key growth markets such as Texas, California, and Arizona.
Somerset, NJ-based CareCloud (NASDAQ: CCLD) was expected to complete its acquisition of HFMA's MAP App on October 1. This marks the latest pickup for CareCloud, which recently began buying strategic assets again after a long pause. The MAP App is a benchmarking tool for measuring hospital revenue cycle performance. The deal includes a long-term partnership with HFMA and is intended to expand the MAP App's capabilities and penetration of the hospital market.
Here is a summary of the seven healthcare payments trends we suggest keeping an eye on in the next few years. Click here to read more from our new white paper.
1. Patient As Payer Shows No Sign of Slowing
The trend of shifting financial responsibility onto patients is accelerating—with more Americans on high-deductible plans, rising co-pays, and an increased share of premiums paid by individuals. Providers are investing in better payment experiences and AI-driven tools, while new patient financing options gain ground. HSAs are expanding due to recent legislative changes, and patient loyalty increasingly hinges on the financial experience, not just clinical care.
2. Rapid Growth of New Payment Modalities, Including Stablecoin
Digital wallets (PayPal, Venmo, Apple Pay), A2A transfers, and Buy Now, Pay Later are rapidly being adopted in healthcare. B2B payments see more real-time and virtual card use. Stablecoins are emerging as fast, secure, low-cost alternatives to traditional payments, with improvements in regulatory clarity and infrastructure making them more attractive to healthcare providers and consumers over time.
3. Continued Evolution of the Healthcare Payments Ecosystem
Major EMR and banking players are expanding by acquiring or partnering with patient billing, gateway, and merchant acquiring vendors. EMRs are moving downstream, and banks are moving upstream. Examples include Veradigm, ModMed, J.P. Morgan, PNC, U.S. Bank, and more, forming bundled offerings that compete for the provider relationship. This vertical integration means that ignoring payments innovation risks losing core banking relationships, and ecosystem evolution will continue, driven by mergers and partnerships.
4. Embedded Finance and PayFac Models Gain Steam
Independent software vendors (ISVs) are increasingly acting as their own payment processors using PayFac models, gaining control over payment flows and higher revenue potential. Embedded finance—integrating payments, lending, or insurance in non-financial apps—is transforming EMRs and other healthcare platforms and expected to grow significantly. Leading processors are expanding into broader financial services to meet demand for seamless patient/ provider experiences.
5. Higher Payment Security Is Now Table Stakes
Healthcare is the second most-targeted industry for data breaches (and until last year was the most targeted for five straight years), raising the bar for payment security. Providers are implementing tokenization (replacing card data with secure tokens) and end-to-end encryption, with active token management critical for preventing payment declines and fraud. PCI-validated solutions and secure device practices reduce exposure, making these advanced security measures a baseline requirement.
6. Buy Now, Pay Later Is Coming to Healthcare
Financing for elective healthcare has been well established (e.g., Synchrony’s CareCredit). Now, BNPL offerings are expanding beyond e-commerce into new markets including dental, cosmetic procedures, and other medical electives. Providers and software platforms are integrating these new entrants (e.g., Affirm, HFD, Sunbit, Cherry). These new financing solutions and AI-driven patient-offer matching are increasing access to flexible payment plans.
7. U.S. Providers Continue Expanding Overseas
Rapid migration to outpatient, home-based, and virtual care is driving new payment models and financial tools. The global virtual care market is set for strong growth, especially in North America. Leading U.S. hospital brands such as UPMC, Mayo, Cleveland Clinic, and Johns Hopkins are expanding overseas, creating complex cross-border payment needs for treasury teams, and necessitating scalable solutions for multi-currency, regulatory, and operational challenges.
PRODUCT NEWS
Elavon launches embedded lending option for SMB in U.S.
U.S. Bank's (NYSE: USB) Elavon merchant services subsidiary joined a growing list of payments companies offering an embedded lending solution directly within their existing workflow. Elavon is launching Quick Capital with Liberis, a global embedded finance platform, to more than 275,000 small businesses (including medical and dental groups) through the Elavon merchant portal. The solution will be Elavon-branded, and applications pre-populated using Elavon's merchant data. Repayments are taken directly out of merchants' daily card transactions. Stripe and Block offer similar loans with fast approvals and repayments based on future sales.
The AI Agent Schism. How AI agents are being used is different from how people *think* they're being used (particularly in enterprise). (Kunle)
Billions in Play: Healthcare AI's Race for Market Dominance. AI has profound implications for the future of work in healthcare, where it is playing an integral role as an equalizer, extender, and enhancer of the workforce. The results so far are significant and tangible, fueling accelerated adoption. (Flare Capital Partners)
How to Act Like a GENIUS. Stablecoins just crossed a line that can’t be uncrossed: they now have a home in U.S. law. After years of gray zones, fragmented state regimes, and enforcement-first oversight, the GENIUS Act finally gave the industry a standalone statutory framework. (Salah Ghazzal)
We'll be in Las Vegas for Money 20/20 October 26-29. Email us here if you'd like to find time to meet up while at the show.
Conference List. Rolling twelve month look ahead at conferences and other events covering healthcare payments, revenue cycle, fintech and related areas. Updated through September 2026.
FMP Blog. Thoughts from healthcare payments CEOs and investors on their right to win and goals for the year ahead, as well as data and perspectives on healthcare payments.
Newsletter Archive. News, trends, and insights from the healthcare payments industry compiled in our bi-weekly newsletter. Last six months of newsletters.
Epic MyChart. Excel sheet with full listing of all Epic MyChart instances as of May 2024, categorized by state, provider type and specialty.
All of these resources can also be accessed at the FinMed Partners Insights page.
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FinMed Partners is a management consulting and advisory business focusing at the intersection of payments/ fintech and healthcare. Our founders have developed deep expertise from decades of experience with health IT companies, healthcare providers and many players within the payments ecosystem. Investors, boards and executive teams work with us to maximize business value through strategic input and tactical execution.
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