Dr. Trevor Campbell, MD, CCFP
Dr. Trevor Campbell, MD, CCFP
Episode 39: Tackling Healthcare Affordability with the CEO of Payzen, Itzik Cohen
Episode 39: Tackling Healthcare Affordability with the CEO of Payzen, Itzik Cohen
Episode 39: Tackling Healthcare Affordability with the CEO of Payzen, Itzik Cohen
Monday 7th October 2024
Explore healthcare affordability with PayZen CEO Itzik Cohen, discussing fintech solutions, AI impact, and startup strategies.
44 minutes
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Dr. Trevor Campbell, MD, CCFP
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Get the buttons here!Innovative Fintech Solutions for Healthcare Costs
Episode Overview
- PayZen uses fintech to address healthcare affordability.
- AI and machine learning are transforming healthcare payments.
- Focus and co-founder choice are key entrepreneurial lessons.
- PayZen aims to be the operating system for healthcare affordability.
- Transparent patient-provider communication enhances care experience.
"Be obsessive about solving one problem and be the best at it."
In the latest episode of Kellogg Healthscape, host Irina Ahmed engages in an insightful conversation with Itzik Cohen, the founder and CEO of PayZen, a company dedicated to transforming healthcare affordability through innovative fintech solutions. Irina, a second-year MBA student at the Kellogg School of Management, introduces Itzik, a seasoned entrepreneur with a rich background in fintech and technology, having previously held leadership roles at companies like Beyond Finance and Prosper Marketplace.
Itzik Cohen shares his journey from a professional basketball career in Europe to entrepreneurship in the United States, where he became a key player in the fintech 1.0 era. His experiences at WebEx Communications and Prosper Marketplace paved the way for his interest in healthcare finance, particularly in addressing the burden of medical debt on low-income populations.
Itzik's insights into the fintech landscape reveal the potential of artificial intelligence and machine learning in alleviating the challenges faced by patients and medical providers. PayZen's mission is clear: to offer financial solutions that remove barriers to healthcare access, ensuring that patients can focus on their health rather than financial stress. Through technology, PayZen provides flexible payment options, allowing patients to manage medical bills without incurring interest.
This approach not only benefits patients but also enhances the efficiency of healthcare systems by reducing friction between payers and providers. The episode also delves into Itzik's entrepreneurial wisdom, emphasizing the importance of choosing the right co-founders and maintaining a focused approach in business. He believes in the power of specialization, encouraging entrepreneurs to excel in one area rather than spreading themselves too thin across multiple domains. These lessons have been instrumental in PayZen's growth and success.
Irina and Itzik discuss the future of healthcare payments, highlighting the role of transparent communication between patients and providers. As technology advances, interactive tools are becoming essential for patients to understand their health plans and the decisions made by payers. This episode provides valuable insights into tackling healthcare affordability through fintech innovation, offering a glimpse into the transformative impact of AI and machine learning on the healthcare ecosystem.