VALHALLA, N.Y., June 9, 2022 /Business Wire/ – Rectangle Health, a leading provider of healthcare financial technology and patient engagement solutions, has partnered with Healthcare Finance Direct (HFD) to launch its patient finance offering. Through direct integration with HFD, providers can work effectively with patients who would prefer to pay their balance over time instead of at the time of service.
“The ever-increasing cost of healthcare procedures has left providers with the challenge of getting paid. That’s where the patient financing options come in – created exclusively for the betterment of both patients and providers,” said Mike Peluso, Chief Technology Officer at Rectangle Health. “Our integration with HFD allows our clients to implement a widely adopted retail model that empowers patients to receive the care they need with manageable financing options.”
The enhanced patient financing option will be available to clients beginning in July. Within Rectangle Health’s Practice Management Bridge® platform, users can easily begin the finance process. Once a patient accepts a pay-over-time option, HFD will originate loans and manage payments directly with the patient. The patient financing option is a non-recourse offering whereby providers receive payment shortly after each contract is initiated.
HFD is an end-to-end patient finance solutions platform specializing in dental, vision, audiology, and cosmetics. Since 2009, HFD has helped providers treat nearly a million patients by offering affordable pay-over-time plans to every patient, regardless of their credit score. Utilizing proprietary algorithms, HFD assesses a patient’s creditworthiness and provides multiple payment plan options for every patient without ever impacting their credit.
“At HFD, we’re on a mission to help providers treat more patients and make sure every patient has access to affordable pay-over-time plans, because cost should not be the barrier that prevents a patient from receiving the treatment they need,” said Tyler Johnson, CEO of HFD. “For too many patients, a poor credit score prevents them from obtaining affordable finance options for their healthcare needs, and that’s just plain wrong. We’re excited to launch our integration with Rectangle Health and look forward to helping them and their clients provide quality, affordable healthcare to more patients.”
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About Rectangle Health
Rectangle Health equips healthcare practices with the technology and tools to attract and retain patients from registration to post-care billing. The company’s patented Practice Management Bridge® platform enhances the patient experience, reduces administrative burden, boosts financial stability, and simplifies healthcare and payment compliance. Since 1993, Rectangle Health has streamlined practice management workflows for tens of thousands of practices in the United States. Learn more at rectanglehealth.com.
About Healthcare Finance Direct
HFD is the leading Buy Now, Pay Later platform for elective healthcare procedures. HFD provides an end-to-end solution that empowers providers to approve 100% of their patients, without sacrificing their margins or patient experience to traditional subprime lenders. With recourse and non-recourse options, HFD is on a mission to serve the underserved, so that every single patient has affordable finance options for their healthcare, regardless of their credit score.
MEDIA CONTACTS:
For Rectangle Health
Michelle Dowling
mdowling@rectanglehealth.com
For Healthcare Finance Direct
Luke Johnson
lukej@healthcarefinancedirect.com
661-378-5006
Alt Contact:
Justin Salters
justin@heysalty.com
661-706-6427