This acquisition combines Sphere’s strength in integrated healthcare payments software and technology with Health iPASS’s leading operational and financial technology to create a single platform for patient payments.
Nashville, TN, December 17, 2020—Sphere, a leading provider of end-to-end integrated payments and security software, today announced its acquisition of Health iPASS, an innovative provider of cloud-based patient engagement software and revenue cycle management technology.
Health iPASS specializes in solutions that enhance provider revenue collections and deliver a streamlined healthcare consumer experience from appointment to final payment. The software helps providers accelerate cashflow, reduce the cost to collect, lower claim denials, and improve patient relations. The technology improves the healthcare consumer experience by simplifying the check-in process and payment experience by facilitating pre-service, time-of-service and post-service engagement and patient payments through an innovative, multi-channel virtual software interface.
“Recent events have accelerated healthcare providers’ need for virtual interactions with their patients throughout the patient experience. The Health iPASS software platform addresses those needs by streamlining the check-in and financial engagement workflow to increase provider revenue and improve patient communications,” said Andrew Rueff, Executive Chairman of Sphere. “This strategic acquisition builds upon Sphere’s strong presence in the healthcare market and adds a highly relevant and unique set of software solutions to address the growing demand for improved patient engagement and payment experience in healthcare.”
“As a leading patient engagement and revenue cycle platform, Health iPASS is a tremendous fit with the strategic direction of Sphere to further our capability within healthcare and wellness,” said Steve Rizzuto, Chief Executive Officer of Sphere. “Additional healthcare integrations expand our opportunity to offer our payment solutions to the healthcare marketplace. With their unmatched technology, common vision and reputation for excellence, we are excited to welcome them to the Sphere organization.”
“The Health iPASS team has built a tremendous business with innovative technology and has reached a point where we will benefit from broader distribution channels, an in-house acquiring platform and a global brand. These gaps are filled when combined with Sphere,” said Rajesh Voddiraju, Founder and Chief Executive Officer of Health iPASS. “We are aligned in vision, aspiration for growth and believe the future investment will help us capture significant market opportunity.”
The Health iPASS patient friendly platform supports more than 850 payers, 90 practice management systems and is payment processor-agnostic. The company’s commitment to personalized client support will remain unchanged as Health iPASS clients will remain with their existing relationship team.