Flychain is a financial technology company dedicated to enhancing the financial health of small to medium-sized healthcare providers. Founded in 2022 and headquartered in New York City, Flychain offers a comprehensive suite of financial tools designed to alleviate the operational and financial challenges faced by healthcare practices.
The inception of Flychain was inspired by a personal experience of co-founder and CEO, Ethan Schwarzbach. Observing his father's dental practice struggle with cash flow due to delayed insurance payments, Ethan recognized a widespread issue in the healthcare sector. This realization led to the establishment of Flychain, aiming to provide financial solutions tailored to healthcare providers.
Flychain platform encompasses several key financial services:
Accounting & Bookkeeping: Healthcare-specialized bookkeepers provide consolidated financials across multiple locations, facilitating seamless tax filing with certified public
Capital: Access to various forms of capital tailored to specific needs, including receivables financing, lines of credit, and Small Business Administration (SBA) programs.
Valuation Services: Accurate business valuations with strategies to enhance valuation over time.
Treasury Management: Optimization of idle cash yields through investments in institutional assets such as money market funds and managed treasuries.
Savings: Identification of cost-saving strategies across the business, including reducing insurance premiums, tax savings, and accessing state grants.
Flychain continually evolves its platform to meet the dynamic needs of healthcare providers. In August 2024, the company announced plans to introduce Revenue Cycle Intelligence, aimed at helping providers monitor and optimize their revenue cycles by tracking key metrics and identifying areas for improvement.
Flychain is committed to reducing the financial and operational burdens of healthcare providers, enabling them to focus more on patient care. The company's mission is rooted in providing enterprise-level financial tools to small and medium-sized healthcare practices, fostering financial empowerment and peace of mind.
Flychain serves a diverse range of healthcare providers across various specialties, including behavioral health, home health, home care, hospice, infusion therapy, pain management, dentistry, pharmacy, and primary care. The platform is designed to accommodate the unique financial challenges of these specialties, offering tailored solutions to support their growth and sustainability.
