Daily News: November 20, 2019

PNC Provides $225MM Facility to AccessOne


Patient-care financing firm AccessOne has closed a $225 million credit facility with PNC Bank.

The strategic move allows the AccessOne platform to serve more consumers with effective patient financing options, simplifying the way in which patients pay for healthcare and improving the overall patient financial experience.

“The future of healthcare is arguably clear in one way: the burden on patients paying their bills is not going away,” said Craig Rosato, CFO of AccessOne. “It is our mission to provide financial flexibility to consumers while protecting their financial viability, and PNC is one of the most well-respected banks. We are excited to partner with PNC, allowing us to expand our industry-leading low-cost financing options and, most important, lower the cost burden for even more patients and AccessOne account holders.”

A recent Kaiser study showed that one in six Americans who get insurance through their jobs say they’ve had to make “difficult sacrifices” to pay for healthcare in the last year, including cutting back on food, moving in with friends or family, or taking extra jobs. And one in five say healthcare costs have eaten up all or most of their savings. Furthermore, a 2019 Gallup poll showed 65 million adults had a health issue but did not seek treatment due to costs in the past 12 months.

AccessOne is a provider of flexible, co-branded patient financing solutions.