Software and tech-enabled business services-focused growth equity firm Frontier Capital has invested in health system payments, insurance eligibility and digital check-in provider Clearwave Corporation.
The company says its replacement for paper-based processes aims to accelerate and increases point-of-service collections, offer real-time insurance eligibility verification, reduce patient check-in times, and lessen data errors to reduce claims rejections.
Clearwave currently serves more than 500 healthcare facilities in the US.
Frontier partner Andrew Lindner said, “We are excited to partner with Gerard and the team at Clearwave to further their position as an innovator in patient engagement and intelligent patient intake solutions.
“The process of checking in at a healthcare provider remains a frustratingly cumbersome and antiquated process which will inevitably change in this era of consumer-focused healthcare.
“Clearwave is leading the industry in improving the overall patient experience while accelerating payment collection cycles and reducing claims denials.
“We look forward to working together with Clearwave to make the process of accessing the healthcare system a more streamlined and enjoyable experience.”
Frontier’s investment in Clearwave comes from the firm’s $700m Frontier Fund V, which it closed in 2017.
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