PORTLAND, Ore. – CarePayment Technologies Inc. was selected by Day Kimball Healthcare, Putnam, Conn., to offer the company’s innovative patient-pay solution program to patients at one of Day Kimball’s hospitals, officials announced today.
This agreement will allow Day Kimball to empower self-pay patients with more flexibility and financial control over their healthcare expenditures. Through the help of a hospital-branded relationship card, the program enables patients to pay for hospital services at a 0.0% Annual Percentage Rate over a period of 25 months.
Day Kimball is the first in Connecticut to offer the CarePayment program.
“We strive to provide high quality healthcare that is convenient and affordable to those who need it, and the CarePayment program helps us meet that goal,” says Sarah Ginnetti, director of revenue cycle for Day Kimball Healthcare. “It also helps us improve patient satisfaction by offering a program that is flexible.”
CarePayment offers a patient-centric program that gives patients confidence that they can afford the best care. In the face of rising healthcare costs and insurance deductibles, the company’s program makes unexpected medical bills less burdensome for patients who are either presently uninsured or facing other out-of-pocket costs.
“We are honored to be chosen by Day Kimball to offer their patients a reasonable way to pay for their care,” says Jim Quist, CEO of CarePayment. “CarePayment is designed to help hospitals and health systems such as Day Kimball provide an additional outstanding service to the community.”
Established in 2004, CarePayment is a program that enables patients to pay for hospital services at a 0.0% Annual Percentage Rate over an extended period of time, while providing hospitals with immediate funding for patient-pay receivables. This unique program enables hospital clients to improve cash flow, reduce receivable days and dramatically increase the percentage of collected patient-pay receivables. Hospitals that have implemented CarePayment have seen improvements on their balance sheets and reported increased patient satisfaction.
Program offered through WebBank, a Utah industrial bank. For more information, visit www.carepayment.com.
About Day Kimball Healthcare
Day Kimball Healthcare is a non-profit, integrated medical services provider comprised of Day Kimball Hospital, four healthcare centers in Danielson, Dayville, Plainfield and Thompson, Day Kimball HomeCare, Hospice & Palliative Care of Northeastern CT, Day Kimball HomeMakers and Physician Services of Northeast CT. Its service area includes Northeast Connecticut as well as nearby Massachusetts and Rhode Island communities. Day Kimball Healthcare’s comprehensive network has more than 1,000 employees including more than 200 highly-skilled physicians, surgeons and specialists. For additional information, please visit www.daykimball.org.
This release may contain forward-looking statements. All statements that are not purely historical are forward-looking statements. Words such as "expect", "anticipate", "intend", "plan", "believe", "seek", "estimate", "may", "could", "would", "will" and variations of such words and similar expressions are intended to identify such forward-looking statements. In particular, this release may contain forward-looking statements with respect to business objectives, expected growth, results of operations, performance, business projects and opportunities, and financial results. Such forward- looking statements reflect management’s current view and estimates of future economic and market circumstances, industry conditions, company performance and financial results, are based on certain material factors and assumptions, and are subject to certain risks and uncertainties, including, without limitation, changes in market conditions, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010. Such risks, uncertainties and other factors could cause actual results or events to differ materially from those described in the forward-looking statements. CarePayment Technologies does not intend, and undertakes no obligation, to update any such forward-looking statements to reflect events or circumstances that occur after the date of this release.