The Executive Interview Series provides readers with exclusive insights from movers and shakers in the payments industry. The payments industry is under continuous transformation. This series offers diverse perspectives on everything from strategy to payments technology and the industry’s future.
In this interview between Dominick Colabella, Chief Executive Officer at Rectangle Health, and TSG’s Morgan Murphy, Dominick offers valuable insights into the shifting healthcare landscape. He emphasizes the growing demand for simplicity, automation, and efficiency in practice operations and explores how evolving patient expectations, regulatory pressures, and reimbursement challenges are reshaping the way providers approach payments and engagement. Dominick also discusses the importance of integrated, future-ready systems, the role of AI in improving workflows, and why leadership alignment and agility are critical for navigating ongoing industry disruption.
Bio: Dominick Colabella is the CEO of Rectangle Health, where he combines deep healthcare expertise with a passion for technology to solve real-world challenges for providers. Starting as one of the company’s first employees, Dominick helped shape its vision and led the development of its patented Practice Management Bridge® platform—streamlining payment processes and improving efficiency for healthcare practices nationwide. He serves on advisory boards for Verifone and Vantiv, and on the board of directors at Nuvance Health. Dominick holds a Bachelor of Science from Albertus Magnus College.
Q. Morgan M.
What was the initial problem Rectangle Health set out to solve?
A. Dominick C.
Rectangle Health was established in 1993, and from inception, our core mission was clear: to address the fundamental challenge of getting healthcare providers, particularly dentists, paid faster and more efficiently. At that time, the healthcare payment landscape was dominated by checks and cash. We were pioneers in introducing credit cards as a viable and convenient payment option, significantly streamlining the financial operations for practices and improving their cash flow.
Since our inception, my goal as CEO has been to drive simplicity in a very complex environment for the benefit of both patients and practices. When I returned to my post as CEO in late 2024, we doubled-down on continuing my vision by investing in new technology, developing new solutions, and implementing cutting-edge AI tools, all for the benefit of our customers and partners.
Q. Morgan M.
What inspired the development of the Practice Management Bridge® technology platform?
A. Dominick C.
The inspiration behind our flagship Practice Management Bridge® platform stemmed from a continuous drive to innovate patient payment processing. We recognized the need to further accelerate efficiency and reduce the manual effort involved in managing patient balances. The key insight was to seamlessly integrate patient payments directly into the office’s existing practice management system, creating a unified workflow that eliminated redundancies and improved data accuracy. The vision of an integrated solution was the genesis of Practice Management Bridge®.
Q. Morgan M.
Can you elaborate on how Practice Management Bridge® technology has evolved since its inception and its impact on healthcare practices?
A. Dominick C.
Practice Management Bridge® has, and continues to evolve significantly, adapting to the changing healthcare landscape and consumer preferences. We’ve always aimed to provide modernization, convenience, and efficiency to healthcare through the latest technology, including AI tools for better customer experiences.
Initially, it focused on integrating payment processing. Over time, we’ve expanded the platform to include robust online and mobile payment capabilities, offering patients diverse and convenient ways to pay. We’ve also integrated patient engagement tools, including automated text messages for appointment reminders and payment notifications, which reduces no-shows and improves collection rates. Further, recognizing the growing regulatory burden, we offer comprehensive compliance features to help practices navigate HIPAA and OSHA requirements. This continuous evolution allows healthcare practices to improve their cash flow, operational efficiency, and patient experience.
Today, it is used by practices of all sizes, across all verticals of healthcare. We have partnered with both financial institutions and technology companies to create best in class integrations and workflows for practitioners and organizations. Our proven partnership model supports financial institutions and merchant service organizations through our Reseller division. We support software providers through our Technology Partner Program. Both of these divisions drive portfolio growth and revenue, improve attach rates, and increase customer lifetime value.
Q. Morgan M.
How does Rectangle Health’s technology stand out from other solutions available in the healthcare industry?
A. Dominick C.
What truly sets Rectangle Health apart is our ability to seamlessly integrate into every type of practice management system, for any practice or organization, regardless of size or specialty. For 32 years, we have been exclusively focused on the healthcare industry, pioneering and patenting technology specifically designed to ensure practices can thrive and their staff is equipped with cutting-edge automation tools. We are trusted by 40,000+ providers and major healthcare organizations, a testament to our reliability and value derived from using our software.
Rectangle Health is the only provider to offer one unified platform that comprehensively brings together patient engagement, payments, and office compliance. Our solution delivers exceptional results for providers, whether they operate a single location or thousands.
Q. Morgan M.
What are the biggest challenges currently facing healthcare providers, and how is Rectangle Health addressing them?
A. Dominick C.
Today, healthcare providers face significant challenges. These include the constant struggle for profit and growth in a complex economic environment and the need for scalable solutions that can adapt to their evolving needs.
Rectangle Health is directly addressing these challenges by adding modern solutions designed to automate the most complicated and time-consuming areas of the business. A prime example is payer reimbursements, a critical part of the revenue cycle process, that often presents significant friction. Our PayerSync product simplifies insurance reimbursements by uniquely combining the financial payment of a claim, the patient detail (Explanation of Payments or EOPs), and automated posting to any practice management system. This capability is unique in the industry today and improves a crucial area of the revenue cycle, that left unattended causes significant financial risk to practices of all sizes.
Q. Morgan M.
How does Rectangle Health’s technology enhance the patient experience and contribute to better healthcare outcomes?
A. Dominick C.
Our technology significantly enhances the patient experience and contributes to better healthcare outcomes in several ways:
Patient Engagement Solution: This makes it easy for practices to keep their schedules full, automate reminders, and ensure patients remain connected and informed throughout their entire care journey, from appointment scheduling to post-visit follow-up. This reduces administrative burden and improves the patient experience.
Comprehensive Digital Payments Solution: This empowers practices to collect patient payments efficiently, improve billing processes, and quickly grow revenue by offering convenient and flexible ways for patients to pay. When financial transactions are smooth and transparent, patient satisfaction increases, allowing them to focus on their health.
Compliance Solution: By providing a digital platform to easily navigate and manage HIPAA and OSHA requirements, we free up practices from administrative burdens, allowing them to dedicate more resources and attention to delivering high-quality care. A compliant and efficient practice environment ultimately leads to better patient outcomes.
Payer Reimbursement Automation: PayerSync™ processes insurance claim reimbursements electronically, with funds transferred directly to the provider’s bank account without manual intervention. Explanation of Payments (EOPs) are standardized, consolidated, and consistently include remark codes. Insurance payments post accurately within the provider’s system of record, streamlining the reimbursement process.
Q. Morgan M.
Rectangle Health has been recognized as one of America’s fastest-growing companies. What strategies have been key to sustaining this growth?
A. Dominick C.
Sustaining our growth has been a collective effort, driven by several key strategies:
Leadership Alignment: Ensuring that our entire leadership team is rowing in the same direction, with a shared vision and unified objectives, has been paramount. This cohesion allows for swift and decisive action.
Agile Strategy: We move quickly with conviction, constantly strategizing on how to best help the healthcare industry adapt and thrive amidst its challenges. This proactive approach keeps us ahead of the curve.
Diversification: We strategically diversify our relationships with vendors, acquirers, partners, and more. This broad network allows us to maintain resilience, sustain our growth, and ultimately continue to evolve the technology available to the healthcare industry.
Q. Morgan M.
How do you foresee the future of healthcare payments evolving, and what role will Rectangle Health play in that transformation?
A. Dominick C.
The future of healthcare payments continues its trajectory towards increased automation, particularly in major areas of friction within the revenue cycle. The industry will continue to move away from manual processes, embracing digital solutions for everything from patient intake to final payment reconciliation.
Rectangle Health plays a pivotal role in this transformation. We are committed to moving forward with enhanced payer relationships and developing innovative solutions that optimize all aspects of the revenue cycle. Our focus remains on building integrated platforms that not only streamline patient payments but also simplify the complex interplay between providers, patients, and payers, ensuring a more efficient, transparent, and patient-friendly payment ecosystem.