Health Sqyre: Let us do 'digital stuff'

DENVER - Health Sqyre, which has been flying under the radar since 2018, now has a goal of getting up to 100 HME providers to use its online marketplace by the end of the year.

The company - whose marketplace connects consumers with providers, allowing them to buy CPAP supplies using insurance or cash - currently has buy-in from about 20 providers.

“We launched in a handful of states with a handful of providers,” said Andrew Schremp, co-founder and CEO of Health Sqyre. “Now we're working hard to get additional providers in the marketplace. We're onboarding two larger providers at the moment, and we're looking to get more of the regional and local providers in the marketplace, as well.”

The marketplace works like this: Consumers sign up and are then able to compare and contrast buying CPAP supplies using insurance or cash. When they make a decision, Health Sqyre processes the transaction and if they select insurance, obtains documentation. The provider, which pays a fee per transaction, bills the claim and ships the supplies.

Health Sqyre is also offering seller storefronts to providers, something that wasn't necessarily in its initial business plan.

“We decided to build it because there was a demand for it,” Schremp said. “We build a storefront with their products and their branding, so it has their look and feel. Then we co-market to their existing customer base. We do email marketing; we do retargeting; we do all the digital stuff we're good at.”

Health Sqyre's technology - which includes, for example, real-time benefit information on eligibility and coverage - allows providers to quickly raise their e-commerce game to the level of a Shopify or Etsy site, Schremp says.

“e-commerce and digital offerings are something that a lot of providers have put off,” he said. “There is some technology out there, but what it's lacking is the consumer experience piece. We're providing that exceptional consumer experience piece.”

In a COVID-19 word, having a strong presence online is no longer optional for providers, Schremp says.

“We've had a lot of providers reach out to us,” he said. “The demand was there before COVID, but COVID has exacerbated it. They're telling us, 'We have all this demand; we don't' know what to do; how do we do this online thing?'”