AxiaMed Announces $12.4 Million Capital Investment
Innovative healthcare payments technology company AxiaMed raised $12.4 million in funding. Health Enterprise Partners led the round with participation by existing investor Nashville Capital Network.
According to the company, since its inception in 2015, AxiaMed has experienced triple-digit annual growth driven by the increase in patient financial responsibility for healthcare expenses. Industry analysts predict that patient payments will be thirty percent of total healthcare costs in 2019 and rise to fifty percent within five years.
AxiaMed states its Payment Fusion SaaS-based payment platform is used by hundreds of hospitals and thousands of ambulatory providers. Payment Fusion is designed to enable healthcare software vendors to integrate secure payment technology into their applications, lessening the risks of payment data breaches, and reducing compliance burdens while improving the financial performance of providers by expanding payment options available to patients.