Capital One Bank-backed patient financing solution AccessOne has acquired HealthFirst Financial.
Founded in 2002, AccessOne provides patient financing options to help consumers manage healthcare costs. Through the solution, consumers are able to pay low, no interest, payments for all balance types including high-deductible, catastrophic and financial assistance.
The platform accepts all patients, and providers can expect to gain more revenue, while improving compliance and financial performance.
US-based HealthFirst Financial is a patient financing solution that helps patients make affordable monthly payments. No credit check is required, and consumers can make payments from a little as $24 a month.
Following the acquisition, AccessOne will offer tailored health systems for their unique care settings, in order to lower bad debt and improve patient experience.
AccessOne CEO Mark Spinner said, “HealthFirst’s focus on highly tailored solutions for healthcare systems complements AccessOne’s commitment to offering flexible financing options for all patients, regardless of circumstance. This combined offering accelerates our mission toward helping every patient lead their healthiest life through affordable access to needed care.”
Last year, AccessOne was acquired by Frontier Capital, making the firm a majority equity holder. The company raised the funds to invest in its marketing efforts and expand its business development team.
A string of patient financing companies received funding at the end of last year, including Cedar which raised $13m in its Series A. The company saw commitments from Founders Fund, Thrive Capital, Martin Ventures and SV Angel. HealthiPASS also raised funding at the end of the year, picking up $7.2m in a Series A led by FCA Venture Partners.
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