Papaya was voted the healthcare start-up with the most innovative solution for bending the cost curve by healthcare leaders at HFMA’s Annual Conference in Orlando.
Papaya, based in Los Angeles, developed a mobile phone-based healthcare bill paying system. In the company’s first three years, its app has processed payments made to more than 50,000 merchants in healthcare and other sectors and in the coming months, Papaya aims to work with larger healthcare providers, said Christine Kuecherer, vice president of growth and marketing for Papaya.
“This contest was a great opportunity to get in front of HFMA members,” Kuecherer said.
This is the second consecutive year that HFMA has held the Virtual Pitch Contest, sponsored by CareCredit, a Synchrony company, in conjunction with its annual conference. The competition aims to offer exposure to start-ups that show promise for reducing the rate of healthcare cost growth.
“Congratulations to Papaya. We wish them continued success in the marketplace,” said Joe Fifer, president and CEO of HFMA. “All the finalists in the Virtual Pitch Contest have developed innovative solutions, and we were pleased to share them with the healthcare finance community.”
The 2018 winner was Transitional Cardiac Care LLC, an education and monitoring service for patients who have been discharged with a diagnosis of congestive heart failure.
“As a member of the healthcare industry, we have a responsibility to help find solutions for ever-rising healthcare costs,” said Beto Casellas, executive vice president and CEO of CareCredit. “Sponsoring HFMA’s Virtual Pitch allows us to support innovators who share our belief in making healthcare more affordable and accessible to consumers.”
Ten company finalists in the contest presented pitches to healthcare leaders on the Innovation Stage at the HFMA Annual Conference. Finalists also staffed booths in the Innovation Hub, where they answered additional questions about their products and services. This was the first time Papaya participated in the competition. The company has worked with local HFMA members, who told company representatives about the contest.
Representatives of Papaya also will present an upcoming webinar to HFMA members.