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Care Payment partners with a Rhode Island provider to Offer Patients Interest-Free Payment Program

Portland, Ore. — July 1, 2010 — CarePayment today announced its partnership with Kent Provider, located in Warwick, Rhode Island. This partnership allows Kent Provider to offer its patients an interest-free payment program when they are not able to meet initial payment terms. With the help of a provider-branded relationship card, CarePayment will enable patients to pay for provider services at a 0.0% Annual Percentage Rate over a period of 25 months. Kent Provider is the first in Rhode Island to offer the CarePayment program.

The zero-interest payment plan is similar to those offered by various retail stores.  The plan will make unexpected medical bills less burdensome for those who are uninsured or are facing the rising costs of deductibles, co-payments and other out-of-pocket costs.  The plan is open to all patients, regardless of insurance coverage.

“We continue to search for ways to improve our overall patient experience,” said Sandra L. Coletta, president and CEO, Kent Provider.  “The CarePayment system is one more way for us to offer care while providing patients with a payment option that is manageable and convenient.”

“We are proud of the opportunity to have a partnership with Kent Provider,” said CarePayment CEO Jim Quist. “We look forward to working with them to offer such a worthwhile benefit to their patients and community to improve patient experience and make the payment process less painful.”

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About CarePayment

Established in 2004, CarePayment is a program that enables patients to pay for provider services at a 0.0% Annual Percentage Rate over an extended period of time, while providing providers with immediate funding for patient-pay receivables. This unique program enables provider clients to improve cash flow, reduce receivable days and dramatically increase the percentage of collected patient-pay receivables. Providers that have implemented CarePayment have seen improvements on their balance sheets and reported increased patient satisfaction.
Program offered through WebBank, a Utah industrial bank.

About Kent Provider

Kent Provider, a Care New England Provider, is a 359-bed, nonprofit, acute care provider serving approximately 300,000 residents of Warwick, West Warwick, East Greenwich, West Greenwich, Coventry and parts of North Kingstown, Exeter and Cranston, Rhode Island. Kent Provider has more than 2,300 employees, a medical staff of more than 600, a volunteer corps of 250 and 350 auxilians.

For more information, contact:
Tracy Connelly, 503-419-3513, tconnelly@carepayment.com