CarePayment®, headquartered in Portland, Oregon, announced recently an innovative program that eases patients’ burden in paying their ever-increasing patient-pay balances. CarePayment®’s easy-to-use, extended payment program, for which every patient qualifies, eases patients’ anxieties about how to pay for ever-growing patient-pay expenses – co-pays, higher deductibles and uninsured hospital costs – that are not eligible for financial assistance, governmental programs or provider reimbursement. The program also helps hospitals cope with funding and collecting these patient-pay balances.
“Our program provides a solution to solving patients’ self-pay responsibility,” explained Scott Johnson, Vice President of Sales for CarePayment®. “We offer a zero interest, non-discriminatory, hospital branded patient payment program that creates a positive image for our hospital clients in their communities. Hospitals enjoy a significant increase in net collections and improved cash flow. The CarePayment® program benefits the hospital, patient and community.”
In today’s difficult economic environment, CarePayment®’s patient payment program transforms a growing public relations challenge for hospitals into a positive advantage. CarePayment® also provides hospitals with immediate funding of patient-pay balances prior to the billing and collection of monthly payments from patients, thus reducing accounts receivable days and improving hospitals’ cash flow.
“We are thrilled with the increased cash flow and collection improvements,” remarked Dan Hogan, Chief Financial Officer for DeSoto Memorial Hospital in Arcadia, Florida. “CarePayment® delivers real results. They care about our patients and treat them with respect.”
CarePayment® partners with hospitals nationwide to support their overall community mission, improve cash flow and enhance net collections by providing them with a non-discriminatory, hospital-branded patient payment card which features zero interest and extended payment terms. All patients, regardless of credit history, qualify for the card, and hospitals receive immediate funding to improve their cash flow and working capital.