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

New Startup is Disrupting the Burgeoning Alternative Payor Healthcare Space

AMERICAN FORK, Utah, Sept. 20, 2022 /PRNewswire/ -- Savvos announced it has raised just over $1 million from Lance Evenson, We Funder, Assure Syndicates, Jared Lynch, Stuart Schantz and Dr. Daniel Harris to further develop the Savvos platform and software, work on business development, and pursue additional provider relationships across the country.

Savvos offers a fresh healthcare experience for patients, payors and providers with a smarter way to find a great price, schedule care, and simplify payment primarily for elective outpatient procedures. Savvos touts the largest national cash-pay marketplace and has pioneered Immediate Cash Payments™. Savvos, the industry leading fintech platform, allows patients, payors and providers to come together in a single conversation to finalize pricing and other specifics before the procedure.

Savvos benefits all parties by helping payors 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've become the engine to facilitate healthcare transactions," explains Lou Morin, CEO of Savvos. "Within our fintech platform, members find their affordable 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 scheduling care, finalizing the price, authorizing the payment through the healthcare plan, and facilitating immediate payment to these providers."

Success stories abound from patients and payors who connected with affordable providers and saved tens of thousands of dollars through Savvos. For example, a member used Savvos to facilitate an ovarian cyst surgery. The local hospital's price for that surgery was $117,000, but the hospital would reduce the price by nearly 50% to $60,000. However, in the Savvos platform, the member was able to find that same surgery at a high-quality, local surgical center for just $6,500.

"These stories sometimes become emotional experiences with our platform because our platform becomes the single point of contact where everybody's discussing and finalizing 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 payor thousands of dollars, and we make cash pay settlement a reality for these providers across the country."

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

Media Contact:
Jake Fackrell
Savvos Health
801-704-1617
[email protected]

SOURCE Savvos Health