My guest this week is an avid history buff, Yale graduate and prominent change agent in the healthcare vertical that got his start at the intersection of healthcare and financial services. PatientFi CEO and Cofounder Todd Watts has a fascinating story that revolves around choice: a choice to build a business directly in the epicenter of the two most regulated industries available today.
For those of you who may not know, PatientFi is a technology platform that provides an affordable and user-friendly modality for patients to finance their healthcare procedures. This includes everything from fertility and dentistry to ophthalmology, aesthetics, and plastic surgery. They are the industry leader in training medical sales to market financial options to customers and their target market includes any aspect of the healthcare vertical that is not covered by traditional medical insurance.
As for what makes them stand out in such a heavily saturated marketplace, their go-to-market solution offers a one stop shop to enable approved financing options that are faster, easier, and more amenable to the overall customer base than their competitors. And they partner with banks and credit unions directly to offer first-look and second-look underwriting to ensure patient approval on almost every application.
Tune in this episode to hear Todd talk about his journey to CEO and what makes his solution such a leader in the industry. We also have a very insightful conversation about traditional underwriting procedures versus alternative underwriting modalities. And it all ultimately comes down to data. How do you get innovative with your data and analytics in a manner that enables more resourceful methods for underwriting verification as we enter into a potential economic recession?