Flywire
Public payments company with a healthcare affordability arm
Our take
Flywire is a payments software company that went public on Nasdaq in 2021, and its healthcare business gives hospitals and health systems a modern patient billing experience: digital statements, analytics-driven outreach, self-service payment plans, and an affordability suite that now includes interest-free financed plans funded non-recourse through a PayZen partnership. The pitch to a health system CFO is simple: patients who understand their bills and can pay over time pay more of them, and the provider gets the cash without carrying long receivables.
As a buyer you are getting the most financially stable vendor in this space, a public company processing payments across education, travel, B2B, and healthcare in more than 140 currencies. Named healthcare customers include Banner Health and CommonSpirit Health, two of the largest systems in the country. The tradeoff is focus: healthcare competes for attention with Flywire's other verticals, and its 2025 spending went toward travel with the $330M Sertifi acquisition. It solves the patient-pay problem well but leaves the payer side of the revenue cycle to others.
What it does
- Digital patient billing and payment portal
- Analytics-driven patient outreach and engagement
- Self-service payment plans, provider-funded or financed
- Integrated non-recourse financing up to 60 months
- Cross-border payments in 140+ currencies
Where it's strong
- Public-company scale and financial transparency, with proven deployments at very large systems like Banner Health and CommonSpirit.
- The affordability suite lets providers offer long payment plans without carrying receivables, since financed plans are funded non-recourse.
- A Forrester Total Economic Impact study commissioned by Flywire found clients can reach a 269% ROI.
What buyers should weigh
- Healthcare is one of four verticals alongside education, travel, and B2B, and recent capital went to travel (the $330M Sertifi deal), so healthcare is not the company's center of gravity.
- It covers patient payments and engagement, not claims, denials, or payer-side revenue cycle work, so you still need other RCM tooling.
- Best suited to large systems with high patient-pay volume; smaller groups may not justify the platform.
Latest
In February 2025 Flywire acquired hospitality payments company Sertifi for $330M and expanded its healthcare Affordability Suite with integrated financing through PayZen.
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