Healthcare SaaS products are revolutionizing the medical industry. From patient portals that expand a person’s lens into their healthcare data to medical billing software that streamlines the payment and reimbursement process, the power of SaaS platforms is being leveraged to empower the medical industry across many facets. These healthcare SaaS advancements become even more vital as the United States federal government continues adopting standards for medical interoperability and mandating a better exchange of healthcare data.
With a market size of 30 billion USD in 2021 and projected to grow to 139 billion by 2030, this time holds powerful potential for healthcare SaaS founders. Enacting strategic initiatives during this push is key to leveraging the growth and scaling your company. These efforts require funding designed to support fast action and unique pathways, empowering you to grow the way you need now, not later. Venture debt funding is uniquely positioned to support these efforts, and carries key benefits over equity funding alone, including ownership control.
Read on to learn why the time is now for healthcare SaaS companies to prioritize their growth, and how venture debt funding can support you.
The Push for Healthcare SaaS Products
Healthcare SaaS products have been rising on the radars of patients and institutions alike for many years, but within the last few, the interest and demand have skyrocketed. Many factors play a role in this, including:
The federal government has become increasingly committed to improving healthcare accessibility for patients and providers. The Fast Health Interoperability Resources (FHIR) lays out key standards institutions must follow to integrate data from multiple sources and enhance accessibility for patients and providers. With this federal push, more and more healthcare SaaS products rise to offer key solutions that comply with the federal push and support institutions with the scale and flexibility they need.
The modernization that SaaS products bring to the medical landscape benefits all parties in the process. As patients show more of an interest in taking charge of their healthcare, healthcare SaaS products like patient portals and EMRs equip them with the tools and data they need to be knowledgeable and actionable. SaaS solutions also enable healthcare providers across multiple facilities and specialties to build a more comprehensive portrait of their patients and better communicate with one another without the access gates or delay of manual information relay. SaaS products also revolutionize medical billing, streamlining insurance claim collection and payments.
Due to the size and severity of the COVID-19 pandemic, flaws within dated healthcare systems were exposed in terms of how data is gathered and distributed. SaaS products rise as a clear solution to these problems, advancing our ability to compile patient data and further healthcare interoperability, the free exchange of data between multiple sources, for all parties involved. COVID-19 also sparked the need for greater telehealth capabilities as patients and providers needed the ability to have virtual appointments to mitigate its spread.
Though COVID-19 and these factors have served as a catalyst to realizing gaps in healthcare that SaaS products could solve, the challenges of data collection, accessibility, and telehealth needs are evergreen. As a SaaS founder, the solutions you develop will have long-term impacts on revolutionizing healthcare for the modern age. Support your innovations and growth with strategic funding — venture debt.
Venture Debt: The Strategic Funding Mechanism for Healthcare SaaS Founders
Venture debt enables companies to secure the financing they need in the form of loans that can be repaid over time through structures that best serve the company. This funding mechanism offers a wide range of key benefits and is uniquely positioned to support healthcare SaaS founders for three key reasons:
Speed to Impact
Venture debt is swifter to obtain for SaaS founders, empowering you to put the funds into action faster. This can help accelerate your growth at a faster rate compared to other options like equity and institutional financing. As private equity deals continue to slow and institutional financing remains difficult to obtain for SaaS companies that don’t yet meet certain growth milestones, venture debt offers a strategic solution. This fast, flexible financing empowers founders to push forward in their growth initiatives without delay.
Equity Dilution and Ownership Control
Unlike equity, venture debt deals don’t require founders to part with shares in order to secure a deal. With the right financing partner that doesn’t operate with warrants, the choice is always entirely non-dilutive. For Saas companies at critical growth stages, maintaining ownership control is a top priority. Venture debt enables companies to access the funds they need to accelerate their scaling without compromising equity in the process, and can be paired with existing or future equity financing to help you mitigate dilution and achieve powerful results.
Venture debt is more flexible than its counterparts, enabling founders to tailor their strategies to what will be most effective for their unique growth goals and needs. For some healthcare SaaS products, marketing efforts may be the key to your growth, or building out a stronger sales team. Others may want to integrate AI innovations and big data technologies into their product and equip it with new capabilities. Whatever your growth journey looks like, venture debt provides the funding to support it.
Get Strategic Growth Support from Industry Experts: Turn to our team for tried-and-true growth strategies and support to discover new ways to accelerate your scaling.
Contact River SaaS Capital for Strategic Healthcare SaaS Funding
Ready to leverage the demand for innovative healthcare SaaS solutions? We’re here to help. At River SaaS Capital, we’re committed to helping SaaS companies achieve swift, sustainable growth with venture debt. We offer three key structures tailored to your needs, whether you want a traditional loan, to start with smaller payments that grow as you grow, or to maximize the revenue you hold onto now and pay only interest initially to accelerate even faster. Not sure which is right for you? Our expert investment team is always ready to discuss your needs and help you find the best solution, and we also offer strategic growth insights to support your scaling.
Contact us today to grow your healthcare SaaS product with strategic, swift funding.