Not all patient financing solutions are built the same.
Know the facts to best serve your organization and your patients.
See how CarePayment's zero-interest patient financing stacks up against the competition.
Read our quick guide to get the 101 on all the medical financing products in the market.
Are medical credit cards and deferred interest solutions really that bad?
While medical credit cards and interest-bearing solutions seem like viable options, they come with growing risk factors – including reputational risks, decreased patient satisfaction, and increased federal scrutiny.
0% of patients want an interest-bearing financing program.
74% of patients prefer to pay their future medical expenses with CarePayment’s interest-free solution.
Better Experience. Better Results.
CarePayment improves the patient experience for patients and revenue collection for providers.
Step 1
Agency Code added when account is in a self-pay balance
Step 2
Account sent to CarePayment in daily placement file
Step 3
Balance is funded immediately or balance funded after 1 payment
Step 4
CarePayment takes over all patient engagement
Step 5
Patient is a lifetime member of CarePayment
Marketing
CarePayment provides all marketing and training. Patients learn about the program through in-hospital materials, staff, and/or community awareness efforts.
Funding
CarePayment funds the patient’s balance immediately or after the first payment. From that point forward, CarePayment manages engagement regarding the balance.
Membership
Patients receive their co-branded member card and are reminded they can use their membership anytime they need care.
Payment
Patients have the option to pay securely through our online portal, by phone, by chat, by mail or through automatic payments.
Enrollment
Patients are automatically identified in the hospital information system (HIS).
To enroll, patients simply pay their first statement—no application or waiting period.
Service
Whether patients enroll by choice or are automatically assigned as a pre-bad debt solution, we provide patients with the same co-branded, compassionate, white-glove engagement program.
Engagement
CarePayment engages 100% of patients throughout their care journey to let them know we’re here to protect their financial health.
Loyalty
CarePayment welcomes members for life. Patients can add new balances any time as they incur medical bills.