HPS/PayMedix Acquires TempoPay

HPS/PayMedix has acquired TempoPay, an innovative payments solution created at Redesign Health that helps employees access medical, dental, pharmacy, and other expenses not paid by their insurance. Together, the companies offer a comprehensive healthcare financing and payments solution that drives forward the combined mission of improving health equity, affordability, overall simplification of the healthcare payments experience.

“Healthcare costs are increasingly becoming a disproportionate share of the American household wallet, and we need better solutions to manage the stress this puts on family budgets,” said Tom Policelli, CEO of HPS/PayMedix. “The acquisition of TempoPay underscores our mission to simplify healthcare and create greater health equity by removing the financial barriers that stand in the way of employees getting access to the care they need when they need it; not just when they feel that they can afford it.”

With TempoPay and PayMedix combined, employees can better manage their health and medical expenses. Because PayMedix and TempoPay are ‘credit-blind’, all employees, regardless their credit histories, can pay their healthcare expenses over time without the pressure of accruing interest or fees.

“It’s a fact that 1 in 4 PayMedix members would be unable to get financing for their healthcare based on their credit scores. With TempoPay, we can reach even more members to help them get and stay healthy,” said Brian Marsella, President of HPS/PayMedix. “The powerful combination of PayMedix and TempoPay provides employers with a valuable solution to support their workforce. We have proven that improving access to care drives better outcomes – particularly for lower-income employees. This in turn saves employers money."