FREDERICK, Md., March 30, 2015 /PRNewswire/ — Someone With Group announced today that it has been selected to present its new crowdfunding platform for healthcare at FinovateSpring in San Jose, Calif. May 12 and 13.
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Someone With Group will demonstrate its patent-pending solution that is targeted at reducing the $40 billion in unpaid bills that hospital systems possess. The program guides patients in creating an online fundraising campaign that is sponsored by their hospital system and targeted at friends, family, coworkers and neighbors.
Funds raised by the patient are loaded onto a pre-paid MasterCard® that can only be used for hospital bills and related medical expenses.
Paula Jagemann-Bane, Someone With Group's Founder and CEO, says, "We are thrilled to have been selected to participate in FinovateSpring 2015. Our solution not only provides hospitals with a way to reduce unpaid bills but is also a tremendous goodwill gesture towards patients. We are excited to showcase our financial solution and demonstrate its identity verification and fraud reduction features."
Someone With Group's platform exists only in a white label format for a health care system. The company's first hospital partner is PinnacleHealth System in Harrisburg, Pa.
Bill Pugh, PinnacleHealth System Senior VP and CFO notes, "We are excited to work with Someone With Group and help our patients in such a profound way. I know the potentially devastating financial impact of medical debt from my own family's experience when I was a young teenager. So often family and friends want to help but are unsure what to do. This kind of program can organize that support and really help relieve the stress on the patient caused by mounting medical costs."
More information on the PinnacleHealth HOPE (Helping Others Pay Expenses) Card can be viewed at www.pinnaclehealthhope.org.
Someone With Group has also incorporated a fraud prevention element into its program. Patients must be sponsored by the hospital and are identity-verified so contributors know that the patient and their needs are real.
Someone With Group's other partners in the solution are Access National Bank (ANCX) of Reston, Va. (www.AccessNationalBank.com) who is the card issuer and banking institution, and TransCard LLC of Chattanooga, Tenn. (www.transcard.com) who is the card processor.
About Someone With Group: Someone With Group provides hospital-sponsored crowdfunding solutions for patient expenses. Monies raised are loaded onto a general purpose reloadable pre-paid card that may only be used for medical bills and expenses. Patients must be sponsored by a healthcare system to participate and are identity-verified so the potential for fraud is eliminated. More information is available at www.someonewithgroup.com.
About FinovateSpring: FinovateSpring is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held in San Jose, the event offers an insight-packed glimpse into the future of money via a fast-paced, intimate, and unique format. FinovateSpring is organized by The Finovate Group. For more information on the event or to view videos of previous demos, please visit www.finovate.com.
Contact:
Jill L. Kerr
Sr. Vice President
Email
301-304-3033 ext. 703