Acquisition adds mobile b****** and payment product to existing patient financing offerings, extending AccessOne solution portfolio to address overall patient financial experience
AccessOne, a leading provider of inclusive Care Now, Pay Later patient financing solutions that help all consumers manage their healthcare costs, announced that it has acquired CueSquared, a one-touch mobile payment platform that simplifies the collection efforts of all patient self-pay balances, allowing consumers to easily access and pay their bills anywhere, at any time.
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Patient financial responsibility is on a rapid growth trajectory, creating a heavy burden in healthcare:
- More than half of consumers (58%) delayed medical care to avoid a healthcare bill in 2021;
- A 2021 Pitchbook report revealed that providers currently only collect 55% of what is owed by patients, during a time when all providers are struggling with revenue and staff shortages.
Through the acquisition, AccessOne will expand its solution portfolio with a mobile b****** and payment platform that has proven to increase self-pay revenue, accelerate payments and reduce the cost to collect at some of the nation’s leading healthcare providers. The company currently offers a variety of 0%-interest and low-interest patient payment plan and financing programs that are tailored and flexible to a patient’s health and financial situation.
“Our purpose here is to solve payment problems for patients and providers so that families can live their healthiest lives through more affordable and accessible care.” says Mark Spinner, CEO of AccessOne. “CueSquared Direct MobilePayTM delivers on the promise of a mobile native, paperless solution that the majority of consumers will actually use and appeals to pragmatic providers who are not looking for another large costly technology project.”
CueSquared’s lightweight approach to mobile payments has shown to improve speed of collection by securely engaging patients without unnecessary steps. CueSquared Direct MobilePay modernizes the bill payment experience with an individualized, text-based payment solution eliminating the need for paper statements, apps or portal logins. Results show 70% of payments are received within seven days, and providers realize a 50% per-payment reduction of collection expenses.
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Spinner adds, “We’re thrilled to welcome the CueSquared team and look forward to building on their proven track record of success serving IDN’s, ambulatory providers and RCM vendors.”
CueSquared was founded in 2017 by brothers William and Peter Dolphin – CEO and President—along with CTO, Damian Hagge. The company has experienced exceptional growth in recent years and currently boasts clients such as Mount Sinai Health System in New York, Baptist Health in Jacksonville, Fla., Albany Medical Center in New York, and Main Line Health in Pennsylvania.
“Mobile engagement and payment represent an important component of a provider’s consumer strategy, both today and in the future. Direct MobilePay is a mobile native product not tied to the methods of the past,“ said William Dolphin, CEO of CueSquared.
“With CueSquared, providers offer anywhere, anytime access to information and payment methods with no friction, causing patients to rapidly adopt,” said Peter Dolphin, president of CueSquared. “We are inspired by the AccessOne team and prospects and are excited to bring together the power of two leading companies working to deliver exceptional patient payment experiences.”
To support the acquisition and future company strategy, AccessOne will continue aggressively growing its team in 2022 across the United States. In all areas of the Company, AccessOne is seeking purpose-driven people looking to use their talent to create a positive impact in our community and join a high performing team.
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