This issue we cover the rise of embedded financial services for healthcare providers, CEO Chats with Boost Payment Services and Zelis, and an assortment of RCM and payments-related deals.
Speaking of embedded banking and payments, that will be the theme for our inaugural Healthcare Fintech Forum in Nashville from November 9-11, 2026. Sponsors include Adyen, Zelis, HealthEquity, and Wellesley Hills Financial. Write to us here to inquire about sponsorship or other ways to participate in this invitation-only event. We are excited to be kicking off what we expect to be an annual event filling a much needed gap in healthcare banking and payments!
If you haven't yet, download our Demystifying Healthcare Payments white paper. And reach out here to schedule time if you'd like to take a deeper dive in the white paper, or talk to us about a consulting engagement or email marketing campaign.
With thousands of U.S. deployments, Bluefin helps Epic health systems get paid faster while reducing risk and costs through PCI-validated encryption and a secure MyChart checkout that keeps card data off hospital systems. Click here to learn more.
FEATURE ARTICLE
Providers show strong interest in embedded financial services
The healthcare payments landscape is evolving. In addition to surcharging, which we covered last month, healthcare providers are signaling they want payment processing – and the broader universe of embedded finance – built directly into the software they rely on every day. Findings from the 2026 ProviderPay study completed by FinMed Partners in partnership with Adyen reveals broad demand for embedded payments and related financial services such as lending and working capital lines of credit. We found that practices are also willing to pay for them.
Highlighting the extent to which current payment approaches are not delivering enough value for providers, nearly every single practice we polled said they would pay more for a payment solution that delivers better integration, faster payouts and improved patient payment options. 41% said they would pay an extra 7% or more.
Among practices that have already moved to an embedded model, 79% report being “very satisfied” with their current provider (highest score), versus 62% in integrated and standalone models. Providers with an embedded model also spend meaningfully less time on payments-related admin work while collecting more at the point of care.
Q22: How interested would your Practice be in accessing business lending and working capital services from your EMR/ Practice Management software or payment vendor? (n=199)
Another less obvious and potentially bigger opportunity sits outside patient payments. 76% of medical practices and 58% of dental and vet practices said they are extremely or very interested in accessing business lending and working capital directly through their EMR or practice management software. Lines of credit and working capital loans ranked as the #1 most valuable financial service in every market segment, with the gap to the next most valuable financial service widest in dental (tie between equipment financing and patient refunds) and vet (tie between practice expansion financing and supplier payment methods).
What's next
For ISVs and healthcare technology firms, providers sent us a clear message. Embedded payments is coming, and it is the on-ramp for embedded lending, working capital, patient financing, and other practice financial services. The platforms that move now have an early start in meeting what is emerging as a critical and clearly defined need for independent practices.
PAYMENT TRENDS
Bank response to rising competition in embedded banking
Back in March, American Banker explored how banks are reacting to fintechs offering embedded financial services. Fintechs are “winning business customers not because they're better banks, but because they're wrapping financial services inside really compelling software experiences," says Joseph Elias Phillips, Co-Founder and Co-CEO of Payabli. "So for banks, the threat isn't just another bank down the street anymore. It's a tech company that happens to offer banking."
Banks are ramping up investment in technology that embeds financial services seamlessly within other functions. American Banker looked at how Huntington Bank has added embedded banking and payments tech to streamline business functions and payments. "We won't cede any ground," said Amit Dhingra, Chief Enterprise Payments Officer at Huntington. "There's a tremendous opportunity in embedding banking with payments."
“Embedded finance has evolved from an experimental layer of innovation into core financial infrastructure, and that shift has directly impacted how banks need to approach it” according to Remy Carole, Chief Operating Officer at financial software firm Treasury Prime. "They should be thinking about embedded finance as an end-to-end operating model, not just a set of integrations.”
According to new data released by KLAS in its 2026 U.S. Acute Care EHR Market Share report, EHR purchasing by hospitals is experiencing a significant slowdown. Epic continues to be the clear leader.Oracle Health faces its third consecutive year of major losses.
The number of hospitals making any EHR purchase decision in 2025 was ~40% lower than 2024 and nearly 50% lower than 2023, driven by policy uncertainty and a strategic shift toward AI and operational efficiency solutions. KLAS data shows Epic in 2025 ending with 43.7% of hospitals and 56.9% of beds.
This compares to Oracle Health at 21.9% of hospitals and 20.4% of beds (net loss of 56 hospitals and 14,676 beds), and Meditech with 14.7% of hospitals and 12.5% of beds. Much of Epic’s growth came from expanding into smaller health systems and standalone hospitals via Community Connect, allowing smaller facilities to operate off the platform of a larger Epic customer.
Dean Leavitt, Founder & CEO, Boost Payment Solutions
Hospitals and other large healthcare organizations have long lagged other industries in moving off manual processes including for Accounts Payable processes, such as mailed or emailed invoices, and paying via paper check. Estimates vary but suggest 50-70% of providers were still paying suppliers by paper check in the early 2020s, compared to the 26% of overall B2B payments made by check (2025 AFP Digital Payments Survey).
B2B tools like virtual cards have removed some manual friction and made commercial payments faster and smarter. Boost Payment Solutions is helping organizations accelerate changes to these manual back end payment processes, including in healthcare A/P. Click here for CEO Dean Leavitt's overview of the company's approach and goals for the year ahead.
CEO CHAT
Dylan Papa, SVP Commercial Growth, Zelis
We have had many great conversations and shared insights and market observations over the last few years with Zelis, especially the Strategy and Corp Dev team (we appreciate you Kyle!) Recently, our discussions have expanded to different parts of the organization. Another CEO Chat we recently published features Dylan Papa, SVP Commercial Growth at Zelis. Click here for Dylan's thoughts on what problem Zelis is solving for customers, and what it has in store for the next 12 months.
DEAL NEWS
Med-Metrix agrees to acquire RCM company CanAide
Parsippany, NJ-based Med-Metrix, a leading technology-enabled provider of end-to-end revenue cycle services, announced in early June that it has reached agreement to acquire CanAide. CanAide sells Medicaid eligibility and enrollment services and RCM automation solutions, and is owned by HCAP Partners. Med-Metrix is a portfolio company of Harvest Partners and A&M Capital Partners. Terms were not disclosed.
Lassie raises $35M Series A financing to help medical offices
San Francisco-based Lassie, which is using AI to help small businesses get rid of busywork, has raised $35 million in a Series A round led by Andreessen Horowitz (a16z) with support from Night Capital, and current and former founders of Superhuman, Plaid, Wise, and Reforge. Lassie is envisioning a future in which we move from that help businesses operate to agents that do the work.
The company is first focusing on success within the healthcare vertical. Lassie estimates that on average, a practice loses 100+ hours to back office administrative work each month. Lassie says its AI agents “go into a practice's insurance portals, pull reimbursements, reconcile them against records, update the system-of-record, and verify the funds in the bank”. The company says that based on experience with 700 practices across 49 states so far, it gives back over 250,000 hours of labor each year to the providers.
San Francisco-based Elation Health, an EHR and billing platform built for primary care, is acquiring Aster. Launched in 2023, Aster is an “AI-native” EHR focused on women's health. Key investors in Elation include Generation Investment Management, Ascension Ventures, DFJ Access Ventures, SV Angel, Hyphen Capital, Ascend Partners, and Threshold Ventures.
Mountain View, CA-based Commure, which operates an AI platform for healthcare, announced in May that it had raised an additional $70 million in a round led by General Catalyst, with participation from Sequoia Capital, Morgan Stanley, and Kirkland & Ellis.
Commure's advanced AI and Agents are used by 500+ hospitals and medical groups to tackle the healthcare administrative work which it believes consumes $1 trillion a year in the U.S. Over 130 large health systems (including HCA and Tenet) along with thousands of physician-owned practices use the platform today.
Innovaccer buys ambulatory RCM company CaduceusHealth
San Francisco-based Innovaccer has acquired CaduceusHealth for $66 million. Founded in 1997, CaduceusHealth’s U.S. based team manages the full cycle of provider billing, claims, and denial resolution for nearly 4,000 providers with $5 billion in gross patient charges annually. Innovaccer serves over 200 health systems and payers, 95% of community pharmacies, and 80 million patient lives across the U.S. This is the company's fifth acquisition.
CaduceusHealth was known for working with athenahealth practices, but now manages RCM processes across every major EHR platform. Congrats to Jim Bonomo, Founder & CEO of Caduceus, who we have known for many years.
Healthcare revenue cycle management at a strategic turning point. Regulatory shifts and payer dynamics are compounding margin pressure. 2025 survey shows care delivery organizations are pairing measured AI investment with integrated outsourcing. (McKinsey)
We're excited to be hosting the inaugural Healthcare Fintech Forum in Nashville from November 9-11, 2026. Write to us here to inquire about sponsorship, or to indicate your interest in attending this invitation-only event. Attendee registration will launch in July 2026.
Conference List. Rolling twelve month look ahead at conferences and other events covering healthcare payments, revenue cycle, fintech and related areas. Updated through November 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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