Proceed Finance Company Profile

Background

Overview

Proceed Finance, established in 2016, is a financial services company specializing in patient financing for significant medical and dental treatments. Headquartered in Lincoln, Nebraska, the company operates nationwide, having served over 100,000 patients.

Mission and Vision

The company's mission is to deliver innovative lending products with intuitive, powerful technology to fund significant treatments, aiming to make life-changing healthcare more accessible.

Industry Significance

Proceed Finance plays a pivotal role in the healthcare financing sector by bridging the affordability gap for patients seeking substantial medical and dental procedures, thereby enhancing access to necessary care.

Key Strategic Focus

Core Objectives

• Provide affordable and accessible financing solutions for large medical and dental treatments.

• Support healthcare providers by offering financing options that increase patient case acceptance and business growth.

Areas of Specialization

• Patient financing for significant medical and dental procedures.

• Tailored financing solutions that cater to a wide range of credit profiles.

Key Technologies Utilized

• Advanced financial technologies to streamline the application and approval process.

• Data analytics to assess creditworthiness and personalize financing options.

Primary Markets Targeted

• Dental and medical practices requiring patient financing solutions.

• Patients seeking affordable options for substantial healthcare treatments.

Financials and Funding

Funding History

• Proceed Finance is a subsidiary of Optum Bank, a division of Optum Bank, Inc.

Recent Funding Rounds

• Specific details regarding recent funding rounds are not publicly disclosed.

Notable Investors

• Optum Bank, a subsidiary of Optum Bank, Inc., serves as the primary investor.

Utilization of Capital

• The capital is utilized to expand the company's financing offerings, enhance technological infrastructure, and support the growth of its partner providers.

Pipeline Development

Key Pipeline Candidates

• The company focuses on developing financing products tailored for large medical and dental cases, with loan amounts ranging from $2,500 to $75,000.

Stages of Development

• Ongoing enhancement of financing products to meet the evolving needs of patients and providers.

Target Conditions

• Significant medical and dental treatments requiring substantial financial investment.

Anticipated Milestones

• Continued expansion of financing options and partnerships to increase accessibility to healthcare treatments.

Technological Platform and Innovation

Proprietary Technologies

• Development of a seamless application process that allows patients to pre-qualify without affecting their credit scores.

• Implementation of advanced data analytics to assess creditworthiness and personalize financing options.

Significant Scientific Methods

• Utilization of machine learning algorithms to predict loan approval probabilities and optimize financing terms.

Leadership Team

Key Executives

• Dave Roehr: Founder and CEO. With over three decades of experience in banking and finance, Dave has led Proceed Finance to become a significant player in healthcare financing.

Leadership Changes

• No recent significant changes or appointments within the company's leadership have been publicly disclosed.

Competitor Profile

Market Insights and Dynamics

• The healthcare financing market is experiencing growth due to increasing healthcare costs and the need for affordable treatment options.

• Patients and providers are seeking flexible financing solutions to manage substantial medical and dental expenses.

Competitor Analysis

• Cherry: Offers patient financing solutions with a focus on dental and medical procedures.

• Doc2Doc Lending: Provides financing options for healthcare professionals and patients.

• National Bank of Commerce: Offers various financial services, including patient financing.

Strategic Collaborations and Partnerships

• Customers Bank: In September 2023, Proceed Finance announced a strategic partnership with Customers Bank to meet the rising demand for large-case medical and dental financing.

Operational Insights

• Proceed Finance differentiates itself through its user-friendly application process, competitive rates, and long repayment terms, which enhance affordability for patients and support business growth for providers.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Expand the range of financing products to cover a broader spectrum of medical and dental treatments.

• Strengthen partnerships with healthcare providers to increase the adoption of financing solutions.

Future Business Directions

• Explore opportunities to enter new markets and regions to broaden the company's reach.

• Invest in technological advancements to improve the efficiency and personalization of financing options.

Opportunities for Expansion

• Collaborate with additional healthcare providers and institutions to offer financing solutions to a larger patient base.

• Develop specialized financing products for emerging medical and dental treatments.

Positioning for Future Objectives

• Leverage existing partnerships and technological infrastructure to scale operations and meet the growing demand for healthcare financing.

Contact Information

• Website: Proceed Finance

• Social Media:

• Facebook

• LinkedIn

• Twitter

• Headquarters: Lincoln, Nebraska