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Market Demand for Patient Financing
- High deductible health plans have steadily increased causing patients
to bear an increased financial burden for surgical procedures. - Patient collections have become a growing concern for all providers.
- Providers are seeking innovative ways to assist patients with
out-of-pocket costs. - 92% of consumers want to know their payment responsibility prior to
a procedure. - Automated payment plans increased by 272% from 2013 – 2016.
- 40% of patients seeking credit from top healthcare lenders are
denied.
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Benefits of offering ASC Patient Financing
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Patient Benefits
- Out-of-pocket costs known in
advance - Removes financial stress
- Provides an alternative to
traditional lenders – banks - Innovative lenders fund higher
patient populations
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Provider Benefits
- Attracts new patients
- Increases case volume
- Eliminates financing & collections
responsibility - Shortens A/R
- Accelerates revenue cycles
- Streamlines workflow
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