Millennia Patient Services, LLC

Millennia Patient Services, LLC specializes in enhancing patient payment experiences for healthcare providers, offering integrated solutions that streamline financial processes and improve revenue collection. Founded in 2012 and headquartered in Raleigh, US, Millennia Patient Services, LLC focuses on providing innovative solutions for patient financial responsibilities. The company has executed 2 deals with its most recent deal occurring on March 17, 2021. Scott Sanner and Tom Ormondroyd serve as CEOs, and there are no known pivots or subsidiary relationships.

Millennia provides a comprehensive Patient Payment Solution designed to enhance the financial experience for healthcare providers and their patients. This solution integrates patient payment technology with concierge capabilities to assist healthcare providers in managing rising patient financial responsibility and declining revenue collection. Core offerings include a digital patient payment portal, patient engagement tools, and analytics for revenue cycle management. The technology functions by enabling patients to understand their financial obligations, offering various payment options, and streamlining the collection process for healthcare organizations.

Millennia primarily serves hospitals, health systems, and mid-to-large physician practices in the United States, with a presence across 43 states, catering to specialties such as orthopedics, dermatology, and behavioral health. Millennia’s revenue model is structured around providing a unified patient payment solution that involves partnerships with healthcare providers. Through this model, healthcare organizations utilize Millennia's technology to facilitate patient payments, leading to improved collections and operational efficiencies. Transactions occur primarily through a subscription-based approach, where clients engage Millennia's services to enhance their revenue cycle management.

The company’s platform is EMR agnostic, allowing it to integrate seamlessly with existing systems while offering customizable features that cater to individual provider needs. As a result, healthcare providers benefit from increased patient payment rates and reduced administrative costs, ultimately driving enhanced cash flow within their operations. In March 2021, Pamlico Capital invested an undisclosed sum in Millennia Patient Services, LLC, with Eir Partners also co-investing in this transaction. The investment will support the growth of Millennia, with plans to enhance their product offerings and expand into new markets.

Specific markets targeted for expansion have yet to be disclosed, but the funding is expected to facilitate these initiatives.