What Medfinancial does

Medfinancial, LLC is a Knoxville, Tennessee-based patient financing and revenue cycle management company that operates the We Care Patient Payment Program, a non-credit-based patient financing product that offers 100% applicant approval (no credit check) with 12-60 month repayment terms and 0% APR options for balances of $500-$15,000. The company serves healthcare providers — primarily hospitals and health systems — by purchasing their outstanding patient balances upfront, providing the providers immediate cash flow while Medfinancial assumes and manages ongoing patient repayment. Supporting offerings include Self-Pay Management and Early-Out Services for revenue cycle teams, alongside a digital billing portal (PersonaPay-based) and AutoPay enrollment that allow patients to self-serve payments.

The technical stack centers on a patient payment processing platform with state-of-the-art call center infrastructure (100% call recording) and integrated voice/internet applications, backed by FISMA/NIST, HIPAA, and PCI DSS compliant IT infrastructure that handles both protected health information and payment card data. ICheckGateway provides ACH/payment processing, while PersonaPay powers the patient-facing billing portal. As an affiliate of Edfinancial Services — a loan originator/servicer with 35+ years of experience and $22B in managed loans across providers, nonprofits, and the U.S. Department of Education — Medfinancial benefits from shared capital, regulatory, and servicing infrastructure.

Medfinancial operates a B2B2C distribution model: it does not sell directly to consumers but rather recruits healthcare providers as channel partners (typically through field sales and HFMA conference engagement) who then present the We Care program to patients at the point of service. The company monetizes via provider service fees on balance purchases plus ongoing servicing of the resulting patient loan portfolio, with reported collections exceeding 95% on payment arrangements and a 97% patient satisfaction rate. The customer footprint is U.S.-domestic, with active field presence across the Southeast evidenced by 2026 HFMA conference participation in NC, SC, GA, FL, and VA.

Name

Medfinancial

Legal name

Medfinancial, LLC

Website

https://medfinancial.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Medfinancial provides non-credit-based patient financing and revenue cycle management to U.S. hospitals and health systems, operating the We Care Patient Payment Program. As an affiliate of Edfinancial Services, it purchases patient balances upfront and services repayment over 12-60 months.

Ownership category

akta.pro rank

Product category

Healthcare Patient Financing and Revenue Cycle Management

NAICS

Other Individual and Family Services (624190)

SIC

Short-Term Business Credit Institutions (6153), Services-Prepackaged Software (7372)

akta.pro primary industry

Healthcare & Medical POS Financing (FSAKAFAI)

akta.pro secondary industries

Medical & Healthcare Personal Loans (Unsecured Installment) (FSAKAAAF), Patient Financial Engagement (Estimates, Billing Presentment, Payments) (HLACAEAI)

Keywords

• Patient financing
• Healthcare revenue cycle
• Medical billing services
• Patient payment plans
• Healthcare collections

Headquarters

HQ city

Knoxville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Provider Partnership / Patient Financing Services: Medfinancial provides upfront funding to healthcare providers for patient balances, then manages the ongoing collection from patients through the We Care® payment program. Providers receive immediate cash flow while Medfinancial handles the administrative burden of collecting payments over 12-60 months from patients. The company charges providers for this service, generating revenue from the financing and servicing relationship.
2. Self-Pay Management & Early-Out Services: Revenue cycle management services for healthcare providers including self-pay patient account management and early-out collection services to improve cash flow and reduce administrative costs for provider partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Medfinancial provides non-credit based patient financing through its We Care Patient Payment Program, offering healthcare providers upfront funding for patient balances while patients repay over 12-60 month terms with 0% APR or low-interest options. The company also delivers self-pay management and early-out collection services that help providers reduce administrative costs and improve cash flow, supported by a 100% call-recorded contact center and a HIPAA/FISMA/PCI DSS-compliant digital patient portal (PersonaPay).

Product overview

Medfinancial offers a unified patient financing and revenue cycle management platform centered on its We Care Patient Payment Program, which provides non-credit based patient financing to healthcare providers. The core product enables 100% applicant approval with flexible 12-60 month repayment terms and 0% or low-interest options. Supporting services include Self-Pay Management (for upfront provider funding) and Early-Out Services (for early-stage collections). The company also provides patient-facing digital tools through PersonaPay for online bill payment and account management, plus AutoPay for automatic deductions. Educational resources including whitepapers on patient financing evaluation, equitable billing, cost-to-collect, and community impact complement the product portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• We Care® Patient Payment Program: A patient financing program offering flexible payment plans, non-credit based approval, and 0% APR interest options for healthcare patients.

Products and services

• We Care Patient Payment Program Non-credit based patient financing program offering flexible payment plans with 0% APR or low-interest options and 100% applicant approval; provides upfront funding to healthcare providers for patient balances while allowing patients 12-60 month repayment terms with no prepayment penalties or late fees.
• Self-Pay Management Revenue cycle management service that helps healthcare providers handle self-pay patient accounts, streamline billing processes, and improve cash flow through upfront funding for outstanding patient balances.
• Early-Out Services Collection services focused on early-stage patient payment recovery, designed to help providers collect payments before accounts become delinquent while maintaining positive patient relationships.
• Patient Portal (PersonaPay) Digital billing environment at personapay.com/medfinancial that allows patients to view electronic statements, make secure payments, review account information, and manage their We Care payment plans online.

Quantifiable outcome

• >95% of all payment arrangements collected on average
• +4 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

One partnership is on record.

• Edfinancial ServicescoreOthersEdfinancial Services is the parent company and affiliate of Medfinancial. Medfinancial operates as a privately held third-party service provider and affiliate of Edfinancial Services, headquartered in Knoxville, Tennessee. Edfinancial Services provides the capital backing and operational infrastructure supporting Medfinancial's patient financing programs.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Wellbe Financial: Healthcare-focused patient financing company offering installment plans for medical bills. Competes directly with Medfinancial's We Care program on affordability and no-credit-check positioning.
• Curae: Emerging patient financing and digital billing platform for healthcare providers. Targets the same self-pay pain point with a more digital-native UX; partial overlap and a credible challenger as it scales provider partnerships.

Direct peers

• AccessOne: Healthcare patient financing platform offering non-credit-based and credit-based payment plans to hospitals and health systems. Closely comparable business model (B2B2C, provider-funded receivables, 0% APR options) and a frequent head-to-head competitor in Medfinancial's hospital channel.
• PatientFi: Patient financing platform specializing in elective and specialty care with monthly payment plans. Comparable in offering installment financing through provider partnerships, although PatientFi skews more toward cosmetic/specialty procedures versus Medfinancial's hospital self-pay focus.
• CareCredit (Synchrony Financial): Synchrony's healthcare-focused patient financing brand and the largest dedicated medical POS financing platform in the US. Directly competes with Medfinancial's We Care program for hospital and health system wallet share, though CareCredit uses a credit-card model rather than non-credit underwriting.
• ClearBalance Healthcare: Patient balance financing and revenue cycle management provider serving hospitals and health systems with extended-term payment plans. Operates a near-identical value proposition (provider cash flow, patient affordability) and competes in the same RFPs.

Broad incumbents

• VisitPay (Waystar): Waystar's patient billing and financing module (formerly VisitPay) competes in the same provider revenue cycle space. A broader RCM incumbent whose patient financing capabilities overlap with Medfinancial's self-pay and early-out services.
• PayPal Credit: General-purpose consumer credit line used by some healthcare providers as a POS financing option. Not healthcare-specialized but competes for the same patient financing wallet, particularly where providers want a recognized consumer brand.
• Cedar: Healthcare patient billing, engagement, and payments platform used by large providers. Adjacent rather than identical; Cedar offers the digital billing/financial engagement layer that Medfinancial's PersonaPay portal competes with and that hospitals may pair with or instead of patient financing.
• Flywire: Public, vertically diversified payments platform with a healthcare arm serving providers, payers, and patients. Broader than Medfinancial but overlaps on patient payment plans and provider receivables workflows at large health systems.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/medfinancial-services

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Medfinancial