SAN FRANCISCO--(BUSINESS WIRE)--MedZERO Inc. announced today at LendIt Fintech USA, the world’s leading event in financial services innovation, that it is launching its mobile medical payments platform in Salt Lake City in partnership with Asserta Health.
MedZERO is offered as a voluntary employee benefit that offers immediate mobile access to zero-interest funding for employees facing out-of-pocket health care costs. The instant advances are repaid over 12 months through payroll deductions and are not credit score dependent, making these funds available to the widest audience possible.
Asserta Health administers direct cash payment for medical procedures at select hospitals and clinics. The partnership with medZERO will enable Asserta Health’s customers–self-insured companies and their employees–to benefit from the significant discounts associated with upfront cash payments while enabling their employees or plan members to spread the repayment of their share of the cost over 12 months, interest free.
“Paying 100 percent of the cash price at the time of service eliminates complex claims and billing processes, allowing for greater price transparency and lower out-of-pocket costs for employees, cash savings for self-insured employers and health plans, and immediate payment with no collections or bad debt costs for medical providers,” said Korb Matosich, CEO and co-founder of Asserta Health. “The medZERO partnership will enable all our plan members to opt for cash discounts even when they don’t have the cash readily available.”
“We are excited to launch medZERO in partnership with Asserta Health. Much like medZERO, Asserta is disrupting how we pay for healthcare and the results are very beneficial for the consumer,” said Michael Sobek, CEO and co-founder of medZERO. “We look forward to following up the Asserta Health launch with a broader offering of medZERO to all employers in Salt Lake City in the near future.”
After the full Salt Lake City launch in the second quarter of 2018, medZERO will be rolled out in additional markets, including Seattle and Kansas City, later this year.
MedZERO was funded in part via a joint venture between its founders, Mobile Capital Group and Sortis Holdings Inc. and uses the Sortis Financial platform to originate and service its loans.
LendIt Fintech USA, a gathering of more than 6,000 industry professionals in San Francisco, showcases the leaders in innovation across financial services including the digital banking, fintech, blockchain and lending industries.
About medZERO Inc.
MedZERO Inc. offers a mobile lending platform that provides instant zero-interest, zero-fee loans to employees facing out-of-pocket health care costs. This voluntary employee benefit provides immediate mobile access to funds to pay for medical costs via an electronic Mastercard®. The zero-interest loans are repaid over 12 months directly from payroll. MedZERO’s founders and investors include Mobile Capital Group and Sortis Holdings Inc. For more information, visit www.medZERO.com.
About Asserta Health
Asserta Health provides direct “cash” health care payment solutions for self-funded employers and health plans. The company’s secure medEcash℠ payment platform, personalized concierge services and custom-designed consumer incentives work together to deliver significant savings and improve the health care payment experience for employers, plan members and providers. All parties benefit from a simplified, transparent payment system that eliminates complex claims and billing processes, and Asserta Health makes it possible for plan members to pay the full bill at the time of service, even when the funds come directly from their employer or health plan. For more information, visit www.assertahealth.com.