January 6, 2015

Crozer-Keystone Delivers Just What the Patient Ordered with CarePayment’s Affordable Financing

PORTLAND, ORE and SPRINGFIELD, PA. (January  06, 2015) – Crozer-Keystone Health System is partnering with CarePayment®, a leading national patient financing firm, to offer its patients new affordable payment options. Patients will be able to finance medical expenses for up to 25 months at 0.00% APR for the life of the account, with no impact on credit scores.

“We have seen a strong increase in people paying more out of pocket for medical services, from those with group health insurance to others with high deductible coverage and even senior citizens who can no longer afford a Medicare supplemental plan,” says Philip Ryan, Crozer-Keystone senior vice-president and chief financial officer.  As the largest healthcare provider in Delaware County, the Crozer-Keystone system includes five hospitals, several outpatient centers and a network of physicians who serve large and diverse population.

“We don’t want money worries to stop our patients from receiving the care they need. Our partnership with CarePayment allows us to support our mission to serve the community by offering extended monthly payments that might better fit our patients’ budgets,” says Robert Perry, CKHS vice president of Revenue Cycle Services.

In addition to CarePayment financing, Crozer-Keystone has undertaken a full range of initiatives to improve patient financial engagement.  The health system has rolled out the CarePricer tool so its financial counselors can provide estimates of patient out-of-pocket costs and make payment arrangements before any charges for care are incurred. All Crozer-Keystone financial counselors also have been trained as Certified Application Counselors (CACs) to help patients as part of the Affordable Care Act apply for health coverage on the federal insurance exchange. Financial counselors also help with determining appropriate government assistance programs and applications.

“Crozer-Keystone has put in place just what the patient has ordered. We recently surveyed more than 400 patients who used CarePayment, and 95 percent or more want to know healthcare prices and payment options upfront,” says Ann Garnier, COO of CarePayment. “What’s more, 73 percent, or nearly three out of four people, think having a CarePayment account removes barriers to receiving necessary medical care.”