PayZen Announces SOC 2 Type II Certification

Leader in healthcare affordability meets stringent compliance framework and security standards

SAN FRANCISCO, Aug. 17, 2022 /PRNewswire/ -- PayZen, a mission-driven fintech company delivering healthcare's Patient Affordability Platform, today announced that they have attained Service Organization Control (SOC) 2 Type II Certification.

SOC 2 Type II certification provides independent validation that PayZen's security controls comply with Trust Service criteria established by the American Institute of Certified Public Accountants (AICPA). With this certification, PayZen maintains its adherence to one of the most stringent, industry-accepted compliance frameworks for service organizations and provides additional assurance to its clients, through an independent auditor, that its business process, information technology and risk management controls are properly designed and operating as intended.

The official auditors' report provides a thorough review of PayZen's internal controls, policies, and processes for its smart payment plans and patient financing system. It also reviews PayZen's processes relating to risk management and subservice (vendor) due diligence, as well as PayZen's entire IT infrastructure, software development life cycle, change management, logical security, network security, physical and environmental security, and computer operations. This examination was conducted by Dansa D'Arata Soucia LLP (www.darata.com).

"It's important that our customers know their data is safe and secure," said PayZen COO, Tobias Mezger. "We take great care in protecting the patient information entrusted to us by our health system partners. SOC 2 Type II compliance is part of our commitment to provide the highest levels of data security for our customers and their patients."

Patient data is a critical component of PayZen's Healthcare Affordability Financing platform, as is the protection of that data. Using PayZen, healthcare providers increase revenue capture by offering patients customized, zero-cost payment plans, presenting the most affordable options tailored to each patient's personal financial circumstances. Because this financial data is highly sensitive, PayZen prioritizes information and data security for patients, being both HIPAA and SOC 2 compliant, and follows strict information security guidelines and practices to make sure that personal and medical information is secure.

For more information about PayZen, please visit the company's website at www.payzen.com.

PayZen is a mission-driven healthcare fintech company that aims to tackle the growing patient payment responsibility problem with superior technology and a modern approach, "Care Now, Pay Later." By prioritizing the patient experience and cutting administrative burden, PayZen looks to improve the patient-provider relationship and slice the impact of medical debt on both sides. PayZen is backed by leading equity and credit capital investors and is led by proven technology veterans with a successful track record of helping millions of Americans overcome financial struggles.

Dansa D'Arata Soucia LLP ("DDS") is a full-service CPA firm based out of Buffalo, New York. Over the past decade, DDS has built a team of auditors dedicated to understanding the AICPA's Trust Services Criteria and how properly applying best practices to comply with this set of criteria results in mitigation of risk as it relates to protecting sensitive data. DDS understands that a SOC 2 examination can be initially intimidating. As such, DDS has worked tirelessly on finding ways to streamline the examination process to be as minimally invasive as possible on company resources. This allows the management teams of their clients to stay focused on growing their businesses! To learn more about DDS and their SOC services, please contact Daniel Garigen, CPA at [email protected] and visit their website at www.darata.com.

SOURCE PayZen