WASHINGTON--(BUSINESS WIRE)--Someone With Group, a new financial services company based in Frederick, Maryland, providing the first secure, HIPAA-compliant crowdfunding solution for patient debt reduction to the health care market, today announced the opening of a direct offering also using a crowdfunding platform. The investor offering is made possible by recent Security and Exchange Commission rule changes resulting from implementation of the Jumpstart Our Business Startups Act.
“Our goal was to improve crowdfunding — make it better and more secure. We’ve done that, and perhaps even more importantly, we have created an entirely new payment model for health care finance in the area of critical care, which currently has a multibillion-dollar debt gap. By working with hospitals and health care providers, we are reducing medical debt and helping people obtain funds for the care they need,” said Paula Jagemann-Bane, founder and CEO of Someone With Group. “Every year, people spend $6 billion on flowers, cards and balloons for sick loved ones. If we can move even a fraction of that spending over to help people pay their medical expenses, we will have done a lot of good for this world. Our investors will all be a part of this kind of real, positive change that we will be making in people’s lives.”
Secure, hospital-sponsored crowdfunding: how it works
Someone With Group redirects friends and family giving to something more meaningful in the form of funds to help patients pay for their medical services. Using a secure crowdfunding platform, the Someone With Group system is fraud-resistant through identity verification facilitated directly by serving hospitals and their patients. Someone With Group is also fully compliant with HIPAA and banking and anti-money laundering regulations, making it unlike any other crowdfunding solution available anywhere in the world. Patients must be sponsored by a health care system to participate. Funds raised by patients through Someone With Group are loaded onto a patent-pending, general-purpose, reloadable debit card that may be used only for medical bills and expenses.
“Simply put, our debit card won’t work at gas stations or convenience stores,” added Jagemann-Bane.
Health care systems have upward of $40 billion in unpaid medical bills, and these outstanding liabilities are the leading cause of personal bankruptcies in the U.S.
“Someone With Group has created the first social health care payment model of its kind based on crowdfunding, which is greatly needed in the area of critical care,” said Tim Vasko, founder and CEO of Finaeos, the financial technology solutions firm working with Someone With Group to leverage its direct offering with the power of Finaeos technology. “Our current system is falling short for families and institutions in critical health care. Disruption is only just coming to the most critical social systems in our nation, and Someone With Group is boldly leading that charge in health care. It’s a perfect time and a perfect fit for an imperfect system.”
Crowdfunding for equity
The crowdfunding platform being used for Someone With Group’s funding round was created by Finaeos, a FinTech solutions firm helping entrepreneurs and the financial organizations that support them take advantage of the amendments to the SEC rules under the implementation of the JOBS Act. The Finaeos platform enables private companies under the JOBS Act to manage investor relations processes and information in the same manner as larger public companies. For example, Finaeos’ unique member-driven equity crowdfunding technology matches investors with private companies. Finaeos also allows Someone With Group to keep investors updated about their investments and the evolution of its business.
For more information about investing in Someone With Group, please go to www.finaeos.com/someone-with-group. This investment is open to accredited investors only. All investors, patients and hospitals, or anyone interested in learning more about Someone With Group, should contact the company at http://www.someonewithgroup.com/contact-us.html.
About Someone With Group
Someone With Group provides hospitals with a compassionate way to reduce bad debt by offering patients a crowdfunding platform to contact friends and family for financial support. Monies raised are loaded onto a general-purpose, reloadable debit card that may be used only for medical bills and expenses. Patients must be sponsored by a health care system to participate and are identity-verified so the potential for fraud is eliminated. For more information, visit us at www.someonewithgroup.com or on Twitter, Facebook and LinkedIn.
About Finaeos
Finaeos is a FinTech solutions firm providing innovative social technology platforms that help entrepreneurs enable the full realization of the free market potential outlined by the JOBS Act to fund their companies. As innovator of the Equity Operating Solution, Finaeos offers a unique marketplace platform that is a powerful, disruptive technology for the financial services market as well as other markets that its partners may reach through proprietary solutions. For more information, visit us at www.finaeos.com or on Twitter, Facebook and LinkedIn.
