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Inbox Health, a patient billing and communications platform, announced it received $20 million in growth equity, bringing the company's total funding to $55 million.
The funding round was led by Ten Coves Capital, with participation from CT Innovations, Commerce Ventures, Fairview Capital, I2BF, Healthy Ventures and Vertical Venture Partners.
WHAT IT DOES
Inbox Health offers an AI-enabled tool that automates billing and payments. The company says the tool provides patients with a detailed understanding of their charges.
Additionally, patients can pay their medical bills via credit card, digital wallet, ACH, phone and check.
The funds will be used to back investment in AI research and development.
"This growth capital allows us to study the countless interactions between patients and AI agents, optimizing for both emotional intelligence and efficiency to resolve issues faster," Blake Walker, CEO of Inbox Health, said in a statement.
"The market is ready for a transformation that reduces unpaid bills and makes the entire process feel more like a partnership and less like a burden for patients."
THE LARGER TREND
In August, CHE Behavioral Health Services launched Inbox Health across its care network spanning multiple states.
Inbox Health's patient billing support team manages inbound calls, chat and email for CHE Behavioral Health Services' patient questions.
Additionally, an AI-powered support assistant allows patients to receive help nights, weekends and holidays. The service is available in 60 languages.
CHE Behavioral Health Services' internal team is accessible via real‑time dashboards that track statement delivery, payment status and patient feedback.
In May, Inbox Health joined the Greenway Health Marketplace. Inbox Health expanded its existing relationship with Greenway by deepening its integration for Intergy (Greenway's EHR) users.
The aim was to improve patient billing and drive revenue growth for healthcare practices.
End users gained access to the full suite of automated patient billing solutions offered by Inbox Health, including intelligent billing cycles, real-time payment posting, digital payments, patient payment analytics and modernized patient support.
In 2023, Inbox Health completed a $22.5 million Series B financing round. The company said the funds would be used to advance its strategic growth.
In 2021, Inbox Health secured $15 million in Series A funding. That news came roughly a year after the company closed its $3.5 million seed funding round.
