Holliston, Massachusetts – CoFi, Inc., the company pioneering multi-party payments for elective procedures, has reached a new milestone of over 10,000 ophthalmologists and optometrists active on the CoFi platform. Since CoFi’s commercial launch in the summer of 2021, the company has been growing rapidly, with nearly 200 new vision practices joining the platform each month in 2024.

CoFi’s platform addresses challenges arising from patients having to pay multiple providers and entities involved in a procedure. For example, in ophthalmic procedures, patients may have to pay the surgeon and ambulatory surgery center (ASC), and often a co-managing optometrist or anesthesiologist. CoFi’s software enables patients to conveniently make separate payments to each provider through a single payment event.

Prior to CoFi, patients would have to make multiple payments to different parties at different points in time – a considerable inconvenience for patients. Workarounds to make the process easier for patients created administrative burdens for practices and surgery centers, or created real compliance risks if one provider collected on behalf of and remitted payment to others. CoFi’s ability to aggregate the parties that routinely collaborate in the care of surgical patients onto a single platform has brought convenience, efficiencies, and compliance to a previously suboptimal process.

"CoFi makes patient payments so much easier," said Preston Rawlings, Director of Operations for Center of Sight in Nevada. Center for Sight uses CoFi to enable patients to pay their practice and an external ambulatory surgery center (ASC). "The biggest impact we’ve felt has been a decrease in administrative time. It’s a simple payment experience for the patients, and we’re spending so much less time chasing down payments and confirmations from the surgery center and visa versa."

The continued and accelerating adoption of CoFi by eye care providers is due, in part, to the evolution of the platform to include innovations such as multi-provider patient financing, multi-provider price lists, and streamlined, high volume onboarding of the surgical partners who collaborate with ophthalmology practices.

“Surpassing 10,000 providers is a considerable milestone and a testament to the value our platform brings to eye care providers, surgery centers, and their patients,” said Sean Hanlon, CoFi’s Founder and CEO. “When we set out to develop CoFi, our goal was to solve long-articulated but completely unaddressed issues that relate to payments for surgical procedures. CoFi is enabling practices to give their patients a consumer-grade payment experience similar to purchasing a flight, hotel, and car rental from three different companies at once. The adoption we’ve experienced confirms we’re delivering real, meaningful benefits to our customers.”

About CoFi

Headquartered in MetroWest Boston, CoFi, Inc., provides an innovative, multi-party payment platform for elective medical procedures. Using CoFi, patients directly pay each provider involved in a procedure or healthcare service through a single, convenient payment event. Our software enables providers and surgical facilities to offer a premium payment experience to their premium patients. CoFi has seen growing market adoption in ophthalmology, where the platform delivers critical payment compliance and work-flow advantages to surgeons, co-managing optometrists, and ambulatory surgery centers for elective services and procedures.