As part of our feature series on the LaunchPad Presenting Companies of the Aesthetics Technology Summit, we recently talked to co-founder and CEO of PatientFi, Todd Watts. PatientFi was founded in July of 2017 and is headquartered in Irvine, California. Continue reading to learn more about PateintFi’s innovations in medical patient financing, and their plans for the future at ATS 2020.
What does PatientFi do?
PatientFi offers medical providers a next generation point-of-care financing platform that helps make aesthetic procedures more affordable for patients.
How did you start and what drove you to create PatientFi?
From our experience in the market, we know there are several unaddressed gaps in the patient financing market. First, patients are dissatisfied with current product offerings and can be confused by aggressive deferred interest lending promotions. Second, from the provider’s perspective, due to the historically high processing fees, most offer financing to their patients as a last form of payment rather than a proactive strategy to market services on a monthly payment. Lastly, no financing company had designed a platform tailored to the unique circumstances of aesthetic providers and their patients. In July 2017, Scott Jorgensen and I founded PatientFi with the aim to create a comprehensive solution to address these gaps and create a patient-friendly financing platform catered to the Medical Aesthetic Industry.
How do you see your company being part of the medical aesthetics industry in the future?
Studies show the # 1 reason a patient does not move forward with an aesthetic procedure is cost. Unfortunately, innovation in patient financing has not kept pace with the clinical advances in Medical Aesthetics. PatientFi is bringing the latest financial technology and marketing tools to medical providers. With PatientFi, medical providers can now proactively offer pre-approved payment plans at the time of consultation. By helping to remove the barriers of affordability for an increasingly younger population of interested patients, PatientFi’s aim is to help further drive the overall growth of the Medical Aesthetics Industry.
How did you get involved with LaunchPad and OCTANe?
In early 2019, we were introduced by a mutual acquaintance to J.C. Ruffalo at OCTANe. J.C. told us all about LaunchPad and the upcoming ATS and we were excited to get involved.
What opportunities excite you the most about presenting at ATS 2020?
PatientFi is honored to have been selected to present at ATS. We are most excited to gain further insight into the latest market trends and share how PatientFi can help contribute to the growth of the Medical Aesthetic industry.
Todd Watts will be presenting PatientFi at ATS 2020
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