Collectly vs FinPay
Two Patient Payments & Billing vendors, side by side. Facts from public sources; judgments are ours.
At a glance
Derived from public facts · a rough scale, not a ranking
| Collectly | FinPay | |
|---|---|---|
| Pricing model | Subscription (per user or PMPM) · module and volume based, quote only | Not published · Platform plus managed service fees |
| Speed to go live | 4 to 8 weeks with EHR sync | Admissions workflow redesign, one to three months |
| Automation model | Software platform · patient billing plus AI agents | Tech-enabled service · Platform plus engagement specialists |
| Built for | Mid-size groups, Enterprise systems, Billing companies | Mid-size groups, Enterprise systems |
| Security posture | HITRUST, SOC 2 Type II, PCI DSS, HIPAA | HIPAA, PCI DSS |
| Company maturity | 9 yrs (est. 2017) | 11 yrs (est. 2015) |
| Financial backing | $34M · Series A | $28M+ · Growth stage |
| Named customers | None public | 1 named |
| Published results | Specific numbers public | No public numbers |
| Documented integrations | 4 listed | 3 listed |
| Third-party validation | None found | None found |
Bottom line
- Pick Collectly if patient balances sit unpaid for 60+ days and you want digital-first statements and payments live within two months.
- Pick FinPay if you run behavioral health or other high-balance episodic care and want patients financially cleared and on payment plans before admission.
Collectly
Automated patient billing for medical groups
- Founded
- 2017
- HQ
- Santa Monica, CA
- Stage
- Series A
- Raised
- $34M
What it does
- Digital-first patient statements by text and email
- Self-serve payments and flexible payment plans
- AI agents answer patient billing questions
- Automated follow-up sequences until balance resolution
- Collections and DSO analytics for billing teams
- Connects to 30+ EHR and PM platforms
Where it's strong
- Purpose-built for medical groups and ambulatory practices, with quick EHR-connected deployment instead of an enterprise implementation.
- Publishes strong outcome claims: patient collections up 75%, DSO down to about 12 days, 93% patient satisfaction.
- Sapphire-led $29M Series A and 3x annual revenue growth suggest real momentum in the mid-market.
What buyers should weigh
- It has raised $34M against far larger competitors like Cedar, so weigh long-term vendor durability for enterprise commitments.
- Named customers are scarce in public materials; insist on references from groups your size and specialty.
- Hospital-scale organizations with deep Epic workflows are outside its sweet spot.
Integrations
FinPay
Pre-care patient financial engagement and payment plans
- Founded
- 2015
- HQ
- King of Prussia, PA
- Stage
- Growth stage
- Raised
- $28M+
What it does
- Pre-care patient financial clearance and education
- Automated verification of benefits and responsibility estimates
- Compliant payment plans and digital payments
- FinPass digital experience from admission through discharge
- Managed patient engagement teams as a service
- Post-discharge balance follow-up
Where it's strong
- Pre-care engagement model collects money at the point of highest patient willingness, before treatment starts.
- Deep behavioral health and SUD specialization, a segment most payment vendors ignore.
- Offers managed services, so providers without billing staff can still run the model.
What buyers should weigh
- The model requires changing admissions workflows, which takes operational buy-in, not just software install.
- Concentration in behavioral health means fewer references in acute or ambulatory settings.
- No major funding or expansion announcements since the 2022 growth round.
Named customers
Recovery Centers of America
Integrations
Compare against the rest of Patient Payments & Billing
Deciding between these two?
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