Rectangle Health has appointed FinTech and healthcare industry veteran Sid Singh as CEO.
Singh succeeds Dominick Colabella, who has served as the company’s CEO since 2016, will continue to serve on its board of directors and remains a significant investor in the firm, Rectangle Health said in a Tuesday (March 21) press release.
“Sid and the executive team will be responsible for taking Rectangle Health to the next level, building upon its solid foundation,” Colabella said in the release. “Our corporate vision and priorities remain the same, and I will be involved as a member of the board of directors, supporting Rectangle Health’s strategic initiatives, Sid and the entire team.”
Singh’s two decades of experience in the FinTech and healthcare industries encompasses software-as-a-service (SaaS), technology, data and analytics, according to the press release.
According to his LinkedIn profile, Singh most recently served as president of United States Information Solutions at Equifax. Before that, he served as group president of Integrated Solutions & Vertical Markets at Global Payments.
“I am incredibly excited to assume this role and about what the future holds for Rectangle Health,” Singh said in the release. “We have a remarkably talented team dedicated to helping providers improve their practices with our software and payment solutions, allowing them to focus on delivering exceptional patient care.”
PYMNTS research has found that digital healthcare management and payment options can improve patients’ relationships with providers while also getting providers paid.
For example, most consumers expressed significant interest in payment plans and in covering bills that insurance will not pay for with affordable payments, according to “Connected Healthcare: What Consumers Want From Their Healthcare Customer Experiences,” a PYMNTS and Rectangle Health collaboration.
These solutions can give a hand to the business end of healthcare, which remains mired in paper invoicing and unpaid debt, the report found.
Every minute that practitioners spend trying to collect unpaid bills sees the price going up and the amount of money going back to care providers’ coffers going down, Colabella told PYMNTS in an interview posted in August 2021.
“You have to have really spectacular driving tools and modalities for payment so that the patients are engaged at it’s easy,” Colabella said at the time.
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