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Rectangle Health
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Payment processing solutions for healthcare providers
Rectangle Health
Work Here?
Payment processing solutions for healthcare providers
About Rectangle Health
Industries
Fintech
Healthcare
Company Size
201-500
Company Stage
Growth Equity (Venture Capital)
Total Funding
N/A
Headquarters
Town of Mount Pleasant, New York
Founded
1993
Overview
Rectangle Health provides payment processing solutions specifically designed for the healthcare industry. Their main service helps healthcare providers, such as hospitals and clinics, efficiently manage and process credit card payments. The company uses a proprietary technology called Practice Management Bridge, which integrates with existing healthcare data systems to streamline payment processes, improve patient payment collections, and reduce administrative costs. Unlike other payment processors, Rectangle Health focuses solely on the unique needs of healthcare providers, ensuring secure transactions and enhancing the patient experience. The company's goal is to make payment processing smoother and more efficient for healthcare providers, ultimately improving revenue collection.
Simplify's Take
What believers are saying
- Increased telehealth adoption boosts demand for integrated remote payment solutions.
- The rise of value-based care models supports Rectangle Health's bundled payment capabilities.
- Growing healthcare consumerism demands transparent payment options, aligning with Rectangle Health's offerings.
What critics are saying
- Increased competition from Waystar and Meditech threatens Rectangle Health's market share.
- Cyberattacks targeting healthcare data pose risks to Rectangle Health's operations and reputation.
- Demand for unified digital healthcare platforms pressures Rectangle Health to expand beyond payments.
What makes Rectangle Health unique
- Rectangle Health's Practice Management Bridge integrates seamlessly with existing healthcare data systems.
- The company focuses on secure payment processing tailored for the healthcare industry.
- Rectangle Health offers a comprehensive suite of payment tools for healthcare providers.
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Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
401(k) Company Match
Company News
By integrating Rectangle Health's Practice Management Bridge(R) platform with Patterson Dental's comprehensive suite of dental solutions, dental health providers will benefit from a seamless and efficient payment experience.
Carrie Gluck, Chief Information and Security Officer at Rectangle HealthA healthy patient-provider relationship is the foundation for delivering quality healthcare, yet increasingly occurring cyberattacks have negatively impacted patient health outcomes, data security, and care operations. With the recent cybersecurity breaches causing disruptions to operations and workflows that require a shift to manual and paper-based processes, providers must take all necessary technical steps to protect their patients, staff, and practice reputation from potential cyberattacks. Beyond reputational damages, cyber outages and even general IT disruptions deeply impact provider operations, especially affecting employees. Without core systems, software, and data available, provider staff takes on tedious manual tasks, including managing schedules, payment reconciliation, and reviewing extensive patient data, which overburdens them and further compounds negative impacts on operational efficiency due to decreased process efficiency and productivity. This article will explore common cyberattack outage sources, how staff can prevent and mitigate the risks of these sources, how provider organizations can implement compliance protocols, and ultimately, how to take proactive steps to protect the integrity of systems, ensure patient data safety, and improve current processes to ensure a continually thriving practice. Common Origins of Cyber BreachesAs recently reiterated by the Senate Finance Committee, most cyberattacks, including on major organizations, result from systemic lapses in compliance and cybersecurity protocols. According to the Federal Bureau of Investigation and the American Hospital Association, stolen credentials are one of the most common intrusion methods used by hackers, with login information often being acquired through minimal means. For example, hackers often use email phishing to steal login credentials and other employee information by posing as a well-known source, such as a credit card company, internet provider, or even a fellow colleague, and asking for sensitive information. Additionally, connecting to unsecured public Wi-Fi can expose employees to credential theft, eavesdropping, malware distribution, and session hijacking. Hackers sometimes only need a staff member’s email, as many software platforms don’t require strong passwords, making many easily guessable. The reality is that these attacks can happen to any healthcare industry organization
Zac Amos, Features Editor at ReHackWhile digitalization saves lives, it may also threaten them. The uptick in data breaches and cyberattacks targeting the healthcare industry correlates to the number of internet-connected and insecure technology facilities are adopting. Implantable medical devices are one of the latest victims of this trend — and their vulnerabilities could be deadly.Why are Hackers Targeting Implantable Medical Devices?According to a report from the U.S. Health Sector Cybersecurity Coordination Center and the Office of Information Security, the frequency of healthcare data breaches has trended upward since 2012. That number more than doubled from 2018 to 2021, marking an unfortunate milestone — and indicating the issue will continue worsening. It’s no secret the healthcare industry amasses a fortune of personally identifiable information (PII) and health data. In fact, while medical details sell for up to $250 per record, the next highest target — payment card numbers — only goes for $6 per sale
By integrating eIVF's comprehensive billing platform with Rectangle Health's Practice Management Bridge(R) platform, featuring advanced payment processing capabilities within Bridge(TM) Payments, fertility clinics can provide their patients with a convenient way to manage one time or recurring payments.
What You Should Know:– Rectangle Health, a leading healthcare technology company, today announced the launch of its Technology Partnership Program (TPP). This program aims to empower healthcare providers by fostering collaboration with best-in-class digital health companies.– By collaborating with leading healthcare technology firms through TPP, Rectangle Health aims to enhance the accessibility of valuable tools for providers and organizations, ultimately opening new avenues for growth and increased revenue.Responding to Market DemandThe launch of TPP comes in response to a growing market need for robust channel partnerships that can accelerate revenue generation for healthcare providers. Rectangle Health recognizes the value of collaboration and is committed to providing providers with a comprehensive suite of digital solutions throughout the patient journey.Expanding the Healthcare Technology LandscapeRectangle Health has made significant strides in expanding its product portfolio. Their all-in-one SaaS platform, Practice Management Bridge®, offers a comprehensive suite of solutions, including:Healthcare-focused payment technologyDigital front door capabilities for patient engagementWorkflow automation and compliance software for practicesTailored Partnerships for SuccessThe TPP program is designed to cater to the unique needs of each partner. Rectangle Health offers various levels of technology and commercial integration, ranging from passive to fully embedded solutions. This flexibility ensures that all stakeholders – healthcare providers, technology partners, and patients – benefit from operational and financial advantages.Seamless Integration and Collaborative SupportThrough the TPP program, partners gain access to Rectangle Health’s full suite of APIs and the expertise of their technology team
Rectangle Health is Hiring for 7 Jobs on Simplify!
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About Rectangle Health
Industries
Fintech
Healthcare
Company Size
201-500
Company Stage
Growth Equity (Venture Capital)
Total Funding
N/A
Headquarters
Town of Mount Pleasant, New York
Founded
1993
Rectangle Health is Hiring for 7 Jobs on Simplify!
Find jobs on Simplify and start your career today