News

Healthcare Fintech to Provide Platform Analytics to Small-to-Mid-Size Lenders, Banks, ABL, Factors

November 20, 2019. Jacksonville, FL

Liquid FSI, Inc. (www.liquidfsi.com) announced today that it will provide its healthcare analytics and machine learning platform, Convert2Pay™, to small Banks, ABL, and Factors effective January 1, 2020.

The company will also allow qualified lenders to access its portfolio of existing healthcare loans and lines of credit opportunities via Stackfolio, the Atlanta-based online marketplace for loan trading and participation. Lenders can easily see the millions in opportunities online and access the specific Liquid FSI loan details and documents with a free login.

Liquid FSI and Stackfolio entered into a partnership to leverage Liquid FSI’s healthcare sector data analytics and Stackfolio’s marketplace technology in June 2019 to serve the overwhelming demand for loans and asset-based lending in the healthcare sector.

According to Liquid FSI CEO, Frank Capozza, “Liquid FSI has originated more than $30 million in healthcare loans and lines of credit in Q4 2019. Lenders can now pick and choose the borrowers that best fit their risk profile and the type of healthcare practices and geographic location they are most familiar with.”

In addition, Liquid FSI’s risk assessment tools allow lenders to look at each insurance claim individually and assess the quality of the asset to lend against, monitor variances in insurance submissions, and look at payment performance of insurance companies. The platform also compares past insurance adjustments (adjudication) with current performance. The platform also provides the ability to track insurance payment deposits into a provider’s bank account.

About Stackfolio

Stackfolio’s online marketplace for loan trading is revolutionizing how thousands of institutions transact in the whole loan and participation markets. The platform has over 1,100 financial institutions with more than $2 billion of loan listings.

About Liquid FSI

Liquid FSI, Inc. is a lending technology platform using big data analytics, machine learning, and blockchain to help healthcare providers access capital through the marketplace.

For More Information Contact:
Frank Capozza, Liquid FSI, Inc. 646-620-6088
Omar Esposito, Stackfolio.com 404-668-1180

Liquid FSI Partners With Stackfolio

May 28, 2019 - deBanked

Liquid FSI announced today that it has entered into a joint venture with Stackfolio, an online loan marketplace, which allows small banks, hedge funds and credit unions to buy and sell loans. Liquid FSI funds mostly doctor’s offices, as a factor, and it also builds financial technology products to make it easier to fund healthcare providers.

Through this new partnership with Stackfolio, all of Liquid FSI’s applicants will now automatically be posted to Stackfolio’s marketplace. Since Liquid FSI is a funder, why send deals to the competition?

“Just like there’s a college for everyone, there’s a loan [or type of funding] for everyone,” said CEO of Liquid FSI Frank Capozza.

And for deals that come from Liquid FSI but are funded elsewhere on the Stackfolio marketplace, Liquid FSI will get an origination fee and a transaction fee.

Capozza said that their proprietary technology gives banks a far clearer picture of the finances of medical offices, which can be risky to fund because insurance companies often pay a fraction of what doctors bill.

“Now they don’t have to turn business away,” Capozza said of banks that have declined medical offices because of imprecise data which he says Liquid FSI provides.

From Stackfolio’s CEO, Pavleen Thukral, “We are excited for this new partnership with Liquid FSI. It not only aligns our view of the loan trading and origination markets moving online, but more critically for our clients, it helps fill a loan growth gap with commercial and industrial customer opportunities in the healthcare industry.”

In conjunction with this new partnership, Capozza said that he is in final talks with a 55-person, California-based brokerage that will help increase medical office applications to Stackfolio, via Liquid FSI.

“We’re the acquisition engine,” Capozza said.

He said that this brokerage, to be announced at the end of the week, will have its people on the phone and on the ground (i.e., pitching doctors in their offices). Brokers will get a percentage of the origination and residuals on monthly factoring transactions.

by Todd Stone

Liquid FSI & TVS Next Agree to Build Blockchain Platform to Facilitate U.S. Healthcare Payments Ecosystem

Insurance Payments, Provider, Patient Data to Become More Secure

February 11, 2019 - New York, New York

Liquid FSI, Inc., (www.liquidfsi.com), a pioneer in credit risk analytics that enables on-demand payments in the healthcare industry, announced today that it has entered into an agreement with TVS Next, (www.tvsnext.io), one of the world’s leading information technology companies to build its Blockchain platform. TVS Next is based in New York, New York, U.S.A. and Chennai, India.

“Our Blockchain solution solves a myriad of issues including the privacy of Provider-Biller-Payer-Patient-Bank data. Blockchain will also support our on-demand payment offering Convert2Pay™ because of Cipher keys and enable the use of smart contracts in a highly fragmented marketplace,” says Liquid FSI President and CEO, Frank Capozza. “We believe that TVS Next has the depth of resources we need to serve the $3.6 trillion healthcare market,” Capozza concluded.

The agreement with TVS Next is another move by Liquid FSI, Inc., to revolutionize the healthcare payments ecosystems platform called Convert2Pay™. Last year, the Company hired Sundeep Kumar, CFA, as its Chief Operating and Risk Officer from JP Morgan Chase where he was head of global risk. Sundeep is a recognized expert in Blockchain technology for the financial technology industry. The Company also appointed Dr. Diwas KC, to its board of advisors. KC is a nationally known expert in U.S. healthcare operations and a data scientist. He is a professor at Emory University.

Founded in 2015, Liquid FSI, Inc., is a New York based FinTech company focused on the $3.6 trillion U.S. healthcare industry. Using machine learning and proprietary algorithms the Company is targeting nearly $1 trillion in Provider receivables.

Fintech startup to issue securities backed by healthcare receivables

January 4, 2019 - Debtwire

Liquid FSI, an online platform providing healthcare receivables funding, plans to begin issuing securities backed by those receivables in the next six months, according to CEO Frank Capozza.

The platform, which connects investors to healthcare practitioners, has so far issued about USD 50m in loans, according to Capozza. The company does not hold a debt position and instead has several investors on the platform currently funding those loans, he said. Average investor yields are between 1% and 1.5% per month.

“As volume grows, we will look into packaging [the assets] up and selling to investors ... similar to mortgage-backed securities, but with insurance payments as assets,” he said.

Through Liquid FSI, healthcare practitioners can receive on-demand payments on medical claims, instead of waiting for the insurance companies to complete the claims. The firm charges practitioners transaction and origination fees and uses proprietary credit scoring technology, according to company materials.

by Diana Asatryan

Noted Healthcare Financial Technologist Joins Liquid FSI, Inc. Board

Dr. Diwas KC To Oversee Next Generation Sector Specific Algorithms for the Healthcare Industry Using Machine Learning & Blockchain Technology

NEW YORK, NY, November 5, 2018

Diwas KC, Professor and Caldwell Research Scholar at Emory University, where he conducts research at the intersection of Data Analytics, Operations, and Healthcare has joined the Board of Advisors of Liquid FSI, Inc.  Diwas advises large healthcare organizations as well as small startups in data analytics, technology adoption, and healthcare.      

“Dr. KC’s background is at the crossroads of financial technology and healthcare. Diwas will be invaluable in helping us to scale our Convert2Pay™ on-demand liquidity product quickly,” said Frank Capozza, Founder and CEO of Liquid FSI, Inc.

“Liquid FSI currently has Provider/Clients in multiple healthcare sectors included Clinics, Rehabilitation Centers, Autism Centers, Chiropractors, Stem Cell Specialists, Wellness Centers, Laboratories, GPs, and Specialists. With the tremendous amount of data available, Diwas will help us expand our Algorithms, machine learning, and predictive analytics to scale quickly. Our Blockchain technology will ensure privacy for both Providers and Lenders,” Capozza continued.

KC received his Ph.D. from the Wharton School of Business, University of Pennsylvania, his MS in Management Science and Engineering from Stanford University and ScB in Electrical Engineering from Brown University.

About Liquid FSI, Inc.

Founded in 2015, Liquid FSI, Inc. is a healthcare information technology company. Its Convert2Pay™ transaction platform leverages big data and machine learning to provide on-demand insurance claim payments to Providers and more efficient underwriting for Lenders.

The Company’s planned move to Blockchain technology will facilitate Provider-Lender connectivity and privacy.

For More Information Contact:
Frank Capozza, Frank@liquidfsi.com 646-620-6088
Sundeep Kumar, CFA, Sundeep@liquidfsi.com 917-696-7573

TOP RISK TECHNOLOGIST JOINS LIQUID FSI AS CHIEF OPERATING OFFICER

LIQUID FSI POSITIONED TO SCALE RAPIDLY INTO THE U.S. HEALTHCARE SECTOR

NEW YORK, NY, October 2, 2018

Liquid FSI, Inc., a pioneer in credit risk analytics that enable on-demand payments to Providers in the healthcare industry (www.LiquidFSI.com), announced today that Sundeep Kumar, CFA, has joined the Company as Chief Operating Officer and Head of Risk Technology.

Mr. Kumar’s background includes key roles in financial services technology at JP Morgan Chase, where he was the Executive Director of Wholesale Risk Technology, Citigroup where he headed Global Credit Risk, and Goldman Sachs. Kumar began his career as a software engineer and is considered an expert on machine learning, blockchain, and big data analytics in the financial services industry.

“The U.S. healthcare industry is a highly fragmented, multi-trillion-dollar lending opportunity for financial institutions but because of its dysfunction, including multiple billing platforms, practice management software, clearinghouses, and over 3,000 Payers (insurance companies), it is easy to misunderstand” said Frank Capozza, Founder and CEO of Liquid FSI, Inc.

“We’ve built algorithms that bring clarity to the insurance claim payment process for Providers and Lenders. Sundeep’s role is to expand our risk assessment technology,” Capozza concluded.

Mr. Kumar stated, “Liquid FSI’s Risk Differentiated Credit Analysis ascertains the attributes required to effectively identify potentially more credit-worthy healthcare clients. This proprietary gateway provides a new perspective on data analytics and metrics for business credit in the healthcare industry and gives a select group of Providers access to a newer form of a revolving line of credit product called Convert2Pay™.”

Mr. Kumar holds a Bachelor of Technology degree from the Indian Institute of Technology, an MBA from NYU Stern, and a Master of Science in computer science from the Polytechnic University of New York.

Founded in 2015, Liquid FSI, Inc., is a New York based FinTech/RiskTech Company focused on the $3.6 trillion U.S. healthcare industry. Using machine learning and proprietary algorithms the Company is targeting nearly $1 trillion in Provider receivables.

LIQUID FSI ADDS KEY BOARD MEMBER

NEW YORK, NY, April 5, 2018 - deBanked

Liquid FSI, a direct lender and creator of the Convert2Pay platform, which provides on-demand payment for medical invoices, added Barry Blecherman to its Board of Advisors.

While a few recent graduates of the NYU Tandon School of Engineering were helping the Liquid FSI team with some algorithms for their technology platform, they mentioned Blecherman, a professor of Finance and Risk Engineering at the Tandon School.

“I looked him up and I contacted him and he turns out to be one of the leading guys for risk [and] financial engineering in the country,” said Frank Capozza, CEO of Liquid FSI. “We had a bunch of lunches, and at one of the lunches [Blecherman] said to me, ‘Don’t even give me a presentation. My wife is a pediatrician. I’m on board.’ He totally got it.”

Why did Blecherman relate more quickly to Liquid FSI given that his wife is a pediatrician? Because the company’s main product, Convert2Pay, allows medical practitioners, such as doctors, to get paid early for their medical claims that can otherwise take insurance companies months to pay. This sounds like factoring because it is like factoring. However, there are some significant differences.

“There are a number of things in factoring that we wanted to disrupt,” Capozza said.

The first is notification to the payer that someone else now owns the invoice. In the case of a doctor, that means notifying the insurance company that Liquid FSI now owns the doctor’s invoice.

“We said ‘that’s an insult to the doctor,’” Capozza said. “The doctor thinks, ‘I want to sell these claims, but I don’t want the insurance company to know that I’ve assigned them to someone else.’”

Capozza said that practitioners, which also include medical labs or hospice care companies, are less likely to sell their claims if they know that the insurance company will be notified.

In addition to not notifying, Capozza said that Liquid FSI differs from a traditional factor in that they will generally end up paying a medical practitioner more of what they are owed because they have access to more precise information. Liquid FSI calculates how much money the practitioner will likely receive by analyzing data from medical billing companies, whereas Capozza said that traditional factors will take the anticipated amount and give the practitioner 75% of it, to cover for potential underpayment.

Practitioners, who pay Liquid FSI a transaction fee and an origination fee, are not the company’s only clients. In fact, other lenders make up a big percentage of the business. Lenders pay a licensing fee to Liquid FSI to use its proprietary software.

Until the Convert2Pay platform was launched in November 2016, Capozza maintains that, given the complexity of the medical billing system, lenders had a big dilemma.

“A lender says ‘Well, we don’t really know how much this [claim] is worth,” Capozza said. “That’s number one. Number two, ‘We don’t know whether the medical billing company is doing their job properly. And if they mis-code [the claim], it’s going to go back into the system and could be delayed another 30 days.’”

Founded in 2014 and based in New York, Liquid FSI gets its practitioner clients through partnerships with companies that sell consumer products to doctors’ and dentists’ offices. While a salesperson is pitching a product, they will also mention Liquid FSI’s on-demand payment product.

Capozza is no stranger to the funding business. In fact, he is among the original players in the MCA industry and was the first to bring the MCA concept to Europe.

BRICKELL CAPITAL FINANCE PARTNERS WITH LIQUID FSI CONVERT2PAY™

NEW YORK, NY, March 16, 2017

Brickell Capital Finance will now offer its healthcare clients Liquid FSI Convert2Pay services through its sales representatives; Liquid FSI Convert2Pay allows healthcare professionals to upload healthcare claims and receive payouts; the firm has a range of solutions for healthcare claim payouts and also offers healthcare industry lending services.

LIQUID FSI’S CONVERT2PAY™ PLATFORM ENHANCES LOAN & FACTOR SERVICES IN HEALTHCARE INDUSTRY - INTEGRATES INTO MEDBILLIT.COM BILLING SOFTWARE

NEW YORK, NY, November 16, 2016

After two years of software development and product testing, Liquid FSI has announced Convert2Pay™, a financial technology platform designed to enhance product offerings from the Alternative Finance and Factoring Industries.

“The SMB financing industry is reaching maturity with high cost of customer acquisition, declining renewal rates, ISO channel conflict, and stiff competition from new market entries like PayPal, Square, and American Express”, says Liquid FSI CEO Frank Capozza.

Liquid FSI provides lenders with a business process improvement tool by offering a direct, low cost channel to the healthcare market. Factors will use Liquid FSI’s invoice verification function. Healthcare professionals can use Convert2Pay™ to convert claims/invoices on-demand to better management capital requirements.

“Since our strategy is to integrate our ‘View → Verify → Convert’ technology into the healthcare practice and lab management ecosystem, it’s a win-win for lenders and borrowers. In fact, one of our first customers is a major alternative lender that recognized the opportunity to connect directly. The Company signed a ‘white label’ software agreement and will be offering Liquid FSI as a flanker brand,” Capozza concluded.

Liquid FSI, Inc. is a New York based financial technology and product innovation company.

Liquid FSI, Inc. is represented by Goodwin Procter LLP, Boston, MA.

For more information contact info@LiquidFSI.com

Frank Capozza, Chief Executive Officer, Liquid FSI, Inc.
Tel: (646) 620-6088

Roger Salvati, Chief Revenue Officer, Liquid FSI, Inc.

MEDBILLIT.COM TO OFFER LIQUID FSI REVENUE MANAGEMENT TOOL TO ITS CUSTOMERS NATIONWIDE

NEW YORK, NY, September 1, 2016

MedBillit.com, a leading provider of clinical and billing software for the healthcare industry, announced that it has reached an agreement with Liquid FSI, Inc., to provide its customers with Liquid's revenue cycle management solution. Medbillit.com will provide the Liquid FSI service effective October 1, 2016 to its customers throughout the U.S.

MedBillit.com CEO Reed Brown said, "MedBillit is the only clinical and billing software company to offer its customers access to the Liquid Platform. This platform will allow MedBillit.com customers to convert their verified insurance claims to working capital with a few clicks."

"This is a significant value-added service not currently available in the healthcare industry. It will help our customers, who from time-to-time, experience lags in cash flow as a result in delayed insurance reimbursements, to accelerate their liquidity.", Brown said.

Frank Capozza, Liquid FSI, Inc., CEO said that "our team has invested several years in developing the technology to view, validate, and convert insurance claims to working capital. Our objective is to accelerate the cash flow of thousands of healthcare businesses waiting to be paid for services."

MedBillit.com is a software development company specializing in medical billing for the hospice industry.

Liquid FSI, Inc., is a New York based financial technology company that facilitates smarter lending and better borrowing in the healthcare industry.