Patientco gets influx of cash

Tuesday, August 21, 2012

ATLANTA – Patientco has received $3.7 million in funding, it announced last week.

BlueCross BlueShield Venture Partners and Sandbox Industries led the funding round, and Tom Hawes, Sandbox Industries managing director, will join Patientco's board of directors. 

"With this investment, Sandbox Industries will work with Patientco to further develop their solution and reach into the marketplace to solve the increasing healthcare payments problem," stated Hawes in a press release.

Patientco coordinates physician and hospital information systems to help patients understand their healthcare expenses. It currently operates in 20 states. 

Misunderstanding their bills is a key reason patients don't pay on time, stated Bird Blitch, Patientco CEO. 

"Solving this unmet need is why Patientco is in business," stated Blitch. "We will apply this strategic financing to enhance our offering and aggressively market Patientco to an expanded network of providers and patients."