Photo - Rivia Health
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Rivia Health

USA, Arizona
Market: Another
Stage of the project: Operating business

Date of last change: 02.06.2022
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Idea

Rivia Health helps ambulatory practice groups enhance their revenue cycle operations to get them paid more while doing less.

Current Status

(As of June 1, 2022) $2.5K Invoiced MRR, $28K Contracted MRR, 11 Practice Group Customers, $3.9MM previous pre-seed and seed funding.

Problem or Opportunity

Healthcare Providers struggle with high operating costs, impacted cashflow, and lower overall revenues due to a highly manual patient billing process and delayed and defaulted patient payments. Key drivers of this problem are patients are not aware of or lose track of bills, need more clarity about what they owe, and do not use provider portals.

Solution (product or service)

Rivia Health gets 75% of bills paid by day 2, with an average time to collect of 14 days, and reduces outstanding balances by 90% for providers, increasing overall patient payments by 45%, and eliminates manual billing follow up with automated, digital, and personalized communications and easy, no portal, no login, mobile-first payment options.

Business model

We have a transaction based revenue model. When a patient pays a provider through our software, the provider pays Rivia Health a 2% transaction fee (no cap). We also charge a SaaS fee based on the size of the organization, starting at $250 per month.

Incubation/Acceleration programs accomplishment

500 Startups, StartupAZ Foundation, Arizona Innovation Competition Awardee, Center for Entrepreneurial Innovation, Launchpad Digital Healthcare
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Idea
Current Status
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Finance
Invested in previous rounds, $
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