Savvos Health, a Digital Health Fintech Platform, Raises $1M in Pre-Seed Round

New Startup Disrupts Emerging Alternative Payor Healthcare Space

AMERICAN FORK, Utah, 20 September 2022 /PRNewswire/ — Savvos announced that it has raised just over 1 million dollars from Lance EvensonWe finance, insure syndicates, Jared Lynch, Stuart Schantz and Dr. Daniel Harris to further develop the Savvos platform and software, work on business development and pursue additional supplier relationships across the country.

Savvos offers a fresh healthcare experience for patients, payers and providers with a smarter way to find a good price, plan treatment and simplify payment primarily for optional outpatient procedures. Savvos is the largest national marketplace for cash payments and has pioneered Immediate Cash Payments™. Savvos, the industry-leading fintech platform, allows patients, payers and providers to come together in a single conversation to finalize pricing and other details for the procedure.

Savvos benefits all parties by helping payers find the most affordable options while helping patients find quality care at centers of excellence. Patients come to Savvos for procedures ranging from general surgeries, orthopedic surgeries, women’s health, endoscopies, colonoscopies, imaging and more.

“We have become the engine to simplify health transactions,” explains Lou Morin, CEO of Savvos. “Within our fintech platform, members find their fair price, then we connect the health plan, the surgical center or hospital, and the surgeon in a single conversation with the member by enabling the process of planning treatment, finalizing the price, approving payment through the health plan, and adding facilitate immediate payment to these suppliers.”

Success stories abound from patients and payers who connected with affordable providers and saved tens of thousands of dollars through Savvos. For example, one member used Savvos to facilitate an ovarian cyst surgery. The local hospital’s price for that operation was $117,000but the hospital would reduce the price by almost another 50% $60,000. But in the Savvos platform, the member could find the same operation at a high-quality local surgical center for just $6500.

“These stories sometimes become emotional experiences with our platform because our platform becomes the single point of contact where everyone discusses and completes these procedures in one conversation,” says Morin. “When we get this kind of information in front of consumers, we can make it an incredibly successful member experience because we save the member and the payer thousands of dollars, and we make cash payment a reality for these providers across the country.”

About Savvos Health: Savvos created the nation’s largest marketplace for affordable cash prices for affordable medical care, including outpatient surgeries, imaging, labs and more. Demand is exploding for affordable cash prices from alternative payers such as health shares, self-funded employer groups, creative insurance products, self-paying consumers and more. Savvos redefines the healthcare experience for patients, payers and providers by connecting all healthcare participants to create real-time package pricing, simplify planning, ensure payer approval and guarantee immediate payment. Savvos eliminates the need to develop networks or direct contracts with the alternative payer market by making cash payments the future of mainstream healthcare.

Media contact:
Jake Fackrell
Savvo’s Health
801-704-1617
[email protected]

SOURCE Savvos Health