As healthcare costs and high deductible healthcare plans continue to rise, both hospitals and patients are looking for more compassionate and realistic payment solutions.
According to recent studies, 99% of hospital bills over $3,000 were not paid in full by year's end, with hospitals writing off more than $35.7 billion in bad debt*. With patients seeing high deductible healthcare plans go as high as $12,000 for a family, or $6,000 for a single, many people are delaying or cancelling procedures due to lack of available funds, or are unable to pay their hospital bill in full.
Enter Patient Financial Strategies (PFS) with a better way to assist hospitals with patient out-of-pocket payment responsibility by providing compassionate, realistic and manageable alternative solutions. PFS allows hospitals to offer zero-interest installment payment plans without affecting a patient's credit.
By partnering with PFS, hospitals can improve their cash flow and ultimately their bottom line by recovering patient payments more quickly while reducing adminis- trative costs, and patients receive a payment solution they can easily understand and manage.
By offering patients easy-to-understand, easy-to-manage zero-interest payment options, hospitals can more quickly recover their procedure costs, strengthening the patient-hospital relationship.
Through PFS's payment programs, patients do not have to tap into reserved retirement funds or credit cards, allowing them to keep those lines of credit open for things like tuition, travel and home improvement. PFS works with each patient to define a financial payment plan that works for them, becoming an extension of your hospital's quality care platform.
Offer patients an affordable, compassionate & realistic way to pay for their medical care.
Improve Patient/Hospital Relationships.
Creating a win-win situation by providing value for both the patient and hospital.
Improve cash flow
Receive patient proceeds within 30 days of approved application.
See how PFS can help you strengthen patient relationships through its convenient payment solutions. Applications are completed and reviewed quickly online, allowing you to get back to what you do best, providing exceptional patient care.
Call today to learn more about how partnering with PFS can benefit your organization and your patients.
*Data from TransUnion Healthcare analysis
Our goal is to assist hospitals by providing patients with the financing options they may need to obtain medical care and meet their payment responsibilities.
Patient Financial Strategies Specializing in Patient Payment Options