Vivor

Vivor, established in 2014 by co-founders Ian Manners, Ganesh Vedarajan, and Benjamin Gagosian, operates as a financial technology platform focused on the healthcare sector. The company was conceived from CEO Ian Manners's experience as a management consultant for pharmaceutical companies, where he identified a critical gap: insured patients often struggled with out-of-pocket costs for life-saving treatments despite the availability of underutilized financial assistance programs. His insights, coupled with his wife's perspective as a gynecologic oncologist, highlighted the administrative burdens and financial toxicity that impede patient care, forming the foundational mission for Vivor.

The firm's core business revolves around its proprietary software-as-a-service (SaaS) platform, PayRx, which serves hospitals, health systems, and other provider organizations. This enterprise solution addresses the issue of "financial toxicity" by systematically connecting patients with financial aid. Vivor's technology integrates with major Electronic Health Record (EHR) systems to proactively identify patients eligible for assistance, streamlining what was once a manual and haphazard screening process. The platform maintains and continuously updates a comprehensive database of nearly 2,000 financial assistance programs, each with specific eligibility criteria, from non-profit foundations and pharmaceutical companies.

Revenue is generated through annual subscription fees paid by its provider clients. The value proposition for these clients is clear: they can reduce costs associated with unpaid medical bills and improve patient outcomes by ensuring treatments are not delayed or skipped due to cost. For instance, one client, Moffitt Cancer Center, secured over $1 million in incremental copay assistance within the first year of using the platform. In November 2021, Vivor was acquired by TailorMed, a move aimed at creating a larger network to tackle financial barriers to care. By the time of the acquisition, Vivor's customers had screened over 600,000 patients and secured more than $500 million in patient assistance.

Keywords: patient financial assistance, healthcare financial technology, financial toxicity, SaaS, out-of-pocket costs, hospital revenue cycle, EHR integration, copay assistance, patient advocacy, medical debt, oncology financial navigation, healthcare affordability, TailorMed, Ian Manners, PayRx, prescription drug costs, non-profit foundation aid, pharmaceutical assistance programs, patient support programs, healthcare workflow solution