It’s no secret that insured patients owe more out of pocket for their medical bills, driven in large part by high-deductible health plans. Self-pay patients also have difficulty paying large medical bills, even after discounts and financial assistance. This puts healthcare providers in a tough position: they want to serve their patients and make their communities healthier, but they also need to be mindful of their own financial health.
One way to achieve both goals is to give patients financing options so that they can pay their bills over time. Working with a third party for patient financing may be a worthwhile option, particularly since providers lack the expertise to design effective payment plans. When considering this option, providers naturally have questions. Will payment plans be patient-friendly? How will patients feel about taking out a loan from an outside organization? What will happen to our existing payment plans?
Click below to learn about five healthcare organizations that worked with HELP Financial Corporation to offer patient-friendly financing options. Not only did patients have another way to resolve their bills, but the organizations also experienced positive financial results.