Patient Financing: Improving the Patient Financial Experience
Health Services Financing
The financial burden placed on patients continues to be a challenge for healthcare providers. From collections to patient satisfaction, financial challenges are increasing as your patients take on more responsibility for out of pocket costs. Patient financing provides a simple solution that reduces financial risks to your organization while offering your patients a convenient and affordable way to pay their medical expenses.
Health Services Financing (HSF®), by CommerceHealthcare®, is a flexible patient financing program that combines both technical functionality and financing, delivering a complete and more affordable solution. It requires minimal technical implementation for your team and integrates seamlessly with your patient management or revenue cycle system. HSF® acts as a complement or alternative to your medical payment programs, offering an open line of credit to patients during any point in the billing cycle. And since CommerceHealthcare® is a division of Commerce Bank, it brings both the security and scalability of a bank to your patient financing program.
A financial solution for Patients and Providers
A patient’s financial experience is another element of patient satisfaction and is becoming increasingly critical to your organization’s reimbursement. HSF® provides a long-term, efficient lending program as part of your patient payment platform. Additionally, this simple and fast approach to patient financing eases the burden on revenue cycle staff and removes revenue cycle costs.
Provide Peace of Mind
Pre-service funding provides low or no interest line of credit for estimated out-of-pocket charges. Having an up-front conversation with patients about payment options can lead to peace of mind for your patients and your staff. It allows patients and providers to focus on care.
Pre-service funding enables patients to make healthcare decisions with less stress. Financial worries are addressed before services are provided and patients know what and how they will pay for care.
Providers benefit from immediate, up-front funding before patient service begins. Administrative items are addressed early and funding can be adjusted seamlessly if the estimate is over or under actual charges.
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