OrthoFi Inc.

OrthoFi Inc. offers innovative technology solutions to optimize financial management and patient acquisition for orthodontic practices, enhancing practices' growth and operational efficiency. Founded in 2013 and headquartered in Denver, US, OrthoFi Inc. specializes in providing financial solutions for orthodontic practices.

The company was co-founded by David Ternan and James Reynolds, both of whom have extensive experience in the healthcare technology sector. OrthoFi has completed two deals, with the most recent investment occurring on April 30, 2019, when Accel-KKR invested in the firm. OrthoFi provides a suite of technology-driven solutions designed to enhance case acceptance and streamline financial management for orthodontic practices. Their core offerings include OrthoFi’s comprehensive patient acquisition, insurance management, and collections solution, which enables practices to effectively drive growth and improve cash flow.

AcceptCare is another key product that ensures all patients, regardless of credit score, have access to affordable treatment payment options, integrating case presentations with a multi-lender network and automated follow-ups. Additionally, OrthoBanc serves as a full-service patient accounts receivable solution, combining automation with human support to manage payments efficiently. These products cater primarily to orthodontic practices across the United States, aiming to simplify the patient journey and enhance the overall experience for both providers and patients. In 2019, OrthoFi reported revenue of USD 15.

6 mn. The company's revenue model is built on a combination of subscription and service agreements with orthodontic practices, engaging in direct transactions that streamline operations and improve financial performance. Practices subscribe to OrthoFi's services, allowing them to utilize tools for insurance management, case acceptance, and patient financing, with fees based on service usage and practice size. Looking ahead, OrthoFi plans to introduce new products designed to further enhance patient financing and operational efficiency; however, specific release dates for these products have not been disclosed.

The company is targeting expansion into additional geographic regions to broaden its reach within the orthodontic market by leveraging recent funding. The investment from Accel-KKR in April 2019 will support these initiatives, facilitating the development of new technologies and market penetration strategies.