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AccessOne and HealthFirst Financial Join to Create Industry Leader

Combination creates the clear growth and innovation leader in the evolving patient financing space, with a strong presence on both U.S. coasts, unmatched experience and access to growth capital 

CHARLOTTE, N.C. – January 11, 2018 – AccessOne, a leading provider of patient financing options designed to help patients manage their healthcare costs, has announced its agreement to acquire HealthFirst Financial, a leading software-enabled service provider of patient financing programs to healthcare organizations. The transaction fuels AccessOne’s rapid nationwide expansion to support all patients with consumer-driven financing tools while simultaneously driving compelling economics for providers. 

“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,” said Mark Spinner, chief executive officer of AccessOne.“This combined offering accelerates our mission toward helping every patient lead their healthiest life through affordable access to needed care.”

In a recent survey by HealthFirst, 53 percent of U.S. adults said they were concerned about how to pay a medical bill of less than $1,000. Worse, 68 percent of U.S. adults with a medical bill of $500 or less did not pay off the full balance during 2016, according to a June 2017 TransUnion report. The growing affordability gap continues to drive declining collection rates for providers and even a loss of patient retention. With the acquisition, AccessOne will now offer health systems the most innovative, tailored solutions on the market for their unique care settings, helping to lower bad debt and improve patient satisfaction scores. 

“As a market leader in consumer finance technology and innovation, HealthFirst is uniquely positioned to provide financing flexibility resulting in high patient satisfaction—a perfect fit with AccessOne’s vision,” said KaLynn Gates, president and corporate counsel at HealthFirst. “The team at HealthFirst is excited to be a part of this next chapter of innovation and accelerated growth as originally envisioned by HealthFirst’s founder Joseph Hawes.”   

AccessOne is backed by Capital One Bank, a top-10 U.S. bank with over $350 billion in assets, and by Frontier Capital, a Charlotte-based growth equity firm that has raised $1.5 billion since 1999 to invest exclusively in software and technology-enabled business services companies.

“AccessOne has experienced significant growth with 26 new hospitals and one nationwide specialty physician practice added this year,” said Andrew Lindner, managing partner at Frontier Capital. “With proprietary predictive analytics and software systems coupled with its patient-first advocate teams on both coasts, AccessOne is very well positioned to expand as a preferred partner to the large health system market.”

Terms of the acquisition will not be disclosed. HealthFirst was advised by Marion Financial Corp. and Armstrong Teasdale LLP, while AccessOne was advised by Womble Bond Dickinson LLP.   

Learn more about AccessOne’s comprehensive and flexible solutions for providers and patients at www.accessonemedcard.com

About AccessOne
Founded in 2002, AccessOne is a leading provider of patient financing options designed to help patient consumers manage their healthcare costs while driving best in class hospital reimbursement. AccessOne offers comprehensive low and no interest payment options for all patient balance types including high-deductible, catastrophic and financial assistance. No patient is ever denied credit or credit reported, and providers can rely on AccessOne to capture more revenue while driving compliance and financial performance. To learn more, visit www.accessonemedcard.com and connect with us onLinkedIn.

About HealthFirst Financial

Founded in 2001, HealthFirst Financial is a national patient financing leader that has helped hundreds of thousands of patients afford care while improving the financial performance of healthcare organizations. HealthFirst Financial is the first and only company awarded the prestigious Peer Review Designation from the Healthcare Financial Management Association for its patient financing programs following a rigorous evaluation of the overall effectiveness, quality and value of its payment solutions. Born out of Hawes Group, HealthFirst Financial was part of a full range of professional service companies including Professional Credit Service, Hawes Technologies, and HeRO Business Services.

January 11, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Healthfirst® Selects InterSystems HealthShare® Platform for Secure, Reliable Health Information Exchange

Not-for-Profit Health Plan Serving One Million Members Across New York to Pioneer Use of HIE Technology

NEW YORK—January 14, 2015—Healthfirst, a not-for-profit health plan serving more than one million members in the New York City metropolitan area, announced today that it selected the InterSystems HealthShare® health informatics platform for its health information exchange (HIE) and clinical portal. HealthShare will centralize clinical data from medical records and other sources for Healthfirst members, enabling the Healthfirst provider network (hospitals and physicians) to exchange data in a secure and efficient manner. It will assist Healthfirst members with providing necessary information to doctors as they navigate the healthcare system.

“Healthfirst is collaborating with our sponsor hospitals and doctors to transform care for members.  Our HIE will create a seamless and secure platform to deliver important clinical information to a provider at the point of care,” said Deborah Hammond, MD, Healthfirst Vice President and Medical Director. “Providers will have access to detailed information such as prescription drug usage and alerts for gaps in care such as missing preventive care services.  Healthfirst is proud to be leading the use of HIE technology.”

The implementation of an information exchange system empowers Healthfirst’s providers to deliver an even higher quality of care to members by sharing the most up-to-date information available at the point-of-care. The clinical portal for clinicians works across the entire care network, including acute, community, mental health, social care, and general practitioner services.

“Health plans need current, comprehensive and credible data to provide timely support for providers at the point of care. Through our experience integrating highly structured claims with complex clinical data, we understand the challenges faced by health plans and providers. We are pleased to support Healthfirst’s goals for improving health outcomes and transforming care through more effective use of information,” said Paul Grabscheid, Vice President of Strategic Planning, InterSystems.

For more information on Healthfirst, please visit www.healthfirst.org. For more information on InterSystems, please visit www.intersystems.com.

About InterSystems
InterSystems develops advanced software technologies that enable breakthroughs. With a passion for excellence and a focus on client success, InterSystems provides data management, strategic interoperability, and analytics platforms used in healthcare, financial services, government, and other industries. In selected countries, InterSystems also offers unified healthcare applications, based on its core technologies, that deliver on the promise of connected healthcare. Founded in 1978, InterSystems is a privately held company headquartered in Cambridge, Massachusetts (USA), with offices worldwide, and its products are used daily by millions of people in more than 100 countries. For more information, visit InterSystems.com.

About Healthfirst
Healthfirst is a not-for-profit health plan serving more than one million members in downstate New York. Created in 1993 by a consortium of the region’s health systems, Healthfirst’s operating model strives to achieve quality outcomes and member satisfaction through collaboration with its extensive provider network and community organizations. Healthfirst offers a comprehensive selection of free and low-cost health insurance options for individuals and families at every stage of life, including government-sponsored health plans such as Child Health Plus, Medicaid Managed Care, Medicare Advantage, and Managed Long Term Care, as well as commercial plans such as Healthfirst Leaf Plans. We treat our members with the same care and attention we give our own families. For more information on Healthfirst, visitwww.healthfirst.org.

January 14, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.