RexPay is a mobile app that helps patients understand, manage, and pay all medical bills in one place. The RexPay team is on a mission to rescue patients from medical bill mayhem. Below is our recent interview with Rachel Mertensmeyer, CEO of RexPay:
Q: Rachel, can you tell us something more about your background? How did you get the idea for the company?
A: I have a background in global brand management, brand strategy, innovation pipeline management, agency partner leadership, and consumer goods marketing. I have worked with brands such as Dove, Dove Men+Care, Avon, Ford, Lincoln, Tory Burch, and Lafayette 148 New York.
In 2016, I experienced a severe injury, which led to 38 medical bills across 11 providers and $10,000 in medical bills. Nearly a year after my accident, I was still sorting through my medical bills. I sat at my kitchen table with three stacks of medical bills in front of me labeled, “paid”, “unpaid” and “?”. I sat back in frustration ad thought, “there must be a better way!” I searched for a mobile app to help me manage and pay my medical bills but couldn’t find one. This was the moment RexPay was born.
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Q: What’s so special about your app? How does it work?
A: RexPay is the only mobile app that consolidates all medical bills and payments in one place for patients. Patients can pay all of their doctors with just a tap in the RexPay app. Rex is the trusted medical bill rescue dog, who guides patients through every step of their medical bill pay experience. First, Rex helps patients understand their bill. Next, he guides patients through the payment process. Finally, Rex keeps track of all healthcare finances such as pending payments, remaining deductible, and health savings account balance. Patients can also ask Rex questions throughout the medical bill pay process via an in-app chat bot.
Q: Why is now the time for a technology solution like RexPay?
A: Today, 80% of patients feel confusion about medical bills, and 36% of patients delay payments because they lose track of bills, and 90% of patients want to make payments in one place but have not had a solution until now.
This problem is more relevant now than ever before as the patient responsibility for healthcare costs rose +88% 2012-2017 and +12% YoY 2017-2018. Patients are now responsible to pay 30% of any medical bill on average (CMS, 2019).
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Q: What are the company’s plans and goals for the future?
A: We envision that RexPay will become the primary form for healthcare payments for patients in the US and the first true healthcare wallet.