Panacea Financial Expands Payments Capabilities with PlexPay, an Integrated Payments Platform Built for Doctor-Owned Practices

New AI-enabled platform unifies merchant processing, patient payments, and financing with Panacea's broader banking and lending ecosystem, giving doctors a single financial partner to serve more patients and grow their practices.

LITTLE ROCK, Ark.--(BUSINESS WIRE)--Panacea Financial, the financial platform for doctors and their practices, today announced the expansion of its capabilities with PlexPay, a healthcare payments platform that integrates merchant processing, point-of-sale and digital payments, patient financing, and automated payment posting with Panacea's broader banking and lending business for doctors. Now live with healthcare practices nationwide, PlexPay enables doctors to simplify collections, reduce administrative work, expand patient payment options, and access the financial solutions needed to operate and grow their practices, all through a single financial platform.

Founded by doctors, Panacea serves physicians, dentists, and veterinarians throughout their professional lives, from medical training through practice ownership and beyond. Today, Panacea works with thousands of doctors and doctor-owned practices across all 50 states that collectively provide care for more than 3 million patients annually.

As of September 30, 2026, Panacea's platform supported approximately $7 billion in annualized transaction volume, an increase of more than 100% year over year. The expansion of PlexPay represents a significant opportunity to accelerate that growth by expanding Panacea's participation in the everyday financial activity of healthcare practices. By integrating payments with its existing banking, lending, and financial technology capabilities, Panacea is building the financial infrastructure that enables doctors to operate more efficiently, grow their practices, manage their financial lives, and deliver care to more patients.

"Healthcare practices have increasingly complex financial needs, yet the infrastructure supporting them remains highly fragmented," said Tyler Stafford, CFA, Chief Executive Officer and Co-Founder of Panacea Financial. "At Panacea, we believe the future of healthcare financial services is a unified platform where payments, treasury, deposits, financing, and financial intelligence work together. PlexPay is a major step toward that vision, giving doctors one trusted financial partner instead of a collection of disconnected services. We're building the financial infrastructure that powers healthcare practices and helps doctors serve patients."

PlexPay is led by industry veteran Brendon Kensel, who previously founded and operated both a dental support organization (DSO) and a national patient finance platform, bringing firsthand experience in the financial and operational challenges facing healthcare practices.

Payments Seamlessly Integrated Into Practice Operations

At the center of PlexPay is a payments platform built specifically for healthcare practices. PlexPay enables practices to accept credit cards, debit cards, ACH, and digital payments through physical and virtual terminals or secure payment links delivered by text or email. The platform also supports securely-stored payment methods, recurring payments, and collection of outstanding patient balances, including amounts owed after insurance. Unlike legacy patient-payment companies, PlexPay integrates merchant processing with patient financing, practice-management software, and Panacea's broader banking and lending solutions, which practices can add as their needs evolve, providing real-time transaction visibility and centralized reporting across multiple practice locations.

PlexPay includes PlexPay Sync, its proprietary integration technology connecting payment activity directly with more than 120 electronic medical record (EMR) and practice management systems (PMS). PlexPay Sync automatically posts payments to the appropriate patient account within a practice's existing software, eliminating manual payment entry and embedding payments directly into established practice workflows.

Patient Financing Embedded Into the Payment Experience

PlexPay offers integrated patient financing that enables practices to provide flexible payment options at the point of care. Through a single payment experience, patients can pay immediately by card or ACH or apply for financing through PlexPay's proprietary financing platform. Designed to accommodate patients across a broad range of credit profiles, PlexPay evaluates multiple financing options through one streamlined application, expanding access to flexible payment solutions without requiring practices to manage multiple lenders. By embedding patient financing directly into the payment experience, PlexPay allows practices to manage immediate payments and financed transactions through a unified workflow, helping improve collections and expand patients' access to care.

"PlexPay is built to fuel the growth of practices everywhere and further expands Panacea’s leadership position in delivering financial solutions for doctors and their practices," said Brendon Kensel, Head of PlexPay. "We've brought together embedded payments, patient financing, and deep practice-management integrations into one platform that will further enhance the experience."

For more information, visit plexpay.com

About Panacea Financial

Panacea Financial Holdings, Inc. is a financial technology company dedicated exclusively to serving physicians, dentists, and veterinarians. Founded by doctors, Panacea delivers a vertically-integrated financial platform, including lending, deposits, payments and patient financing through PlexPay, and advisory services, designed to support doctors from education through practice ownership. Banking services are provided by Panacea Financial, a division of Primis Bank, Member FDIC.