Partnership makes non-recourse patient loans readily available to 87% of total credit population.
MECHANICSBURG, Pa., April 15, 2019 -- HealthPay24®, a premier SaaS provider of enterprise patient payment solutions, and Curae Finance, LLC, a leading provider of non-recourse patient financing solutions, today announced a strategic partnership to satisfy nationwide patient demand for better financing options for their healthcare services.
About 90% of patients would return to a healthcare facility that offer a loan program (1). This compelling industry stat is the key factor for providers to introduce loans to drive patient loyalty.
The Curae solution also addresses the needs of consumers across the entirety of the credit spectrum. Until now, banking and patient financing vendors have only made loan solutions available to approximately the top 15% of the credit population. This neglects the vast majority of patients with less than perfect credit who are in immediate need of financing options for their healthcare services.
Providers, too, can feel distraught as these programs only assist/benefit a small percentage of their patient community. Launching Curae from HealthPay24's solution enables US healthcare providers to offer non-recourse patient loans to the entire credit spectrum, both prime and less than prime.
Curae's patient financing platform brings key differentiators for both providers and patients.
"Patients enjoy a mobile first experience and can view options within seconds of application with no impact to their credit file," says Mark Starr, Vice President of Curae.
Providers benefit from a SaaS front and back end design and receive non-recourse funding within 48 hours. Curae's platform does not require the purchase or transfer of an existing receivable enabling accounts to be set up pre-service without any risk or impact on provider bond or debt covenants.
"Curae is thrilled to partner with as innovative of a company as HealthPay 24 to help meet the growing consumer demand in healthcare for payment solutions. We share a common mission with HealthPay24: to assist patients in managing their healthcare expenses by providing access to flexible, affordable options in a mobile first, consumer rich experience," says Christopher Stenglein, CEO of Curae. "This combination," he adds, "delivers a blue chip point-of-sale and self-service patient payment experience including patient engagement messaging and analytics large health systems have come to expect."
Branded to any provider entity, the SaaS driven architecture ensures the ongoing, unique ability to adopt emerging & AI technologies for the benefit of all HealthPay24 users; both enterprise and patient.
"Patients want options and a great experience. We're proud to say that our clients are equipped to adopt the new best practices in patient financing to meet this demand. With our partner solution, providers can quickly experience increased payment revenues, adoption and satisfaction rates across their entire healthcare enterprise," said Julie Gerdeman, President of HealthPay24. "We chose Curae as our preferred partner because of their ability to open financing options to a much wider population, plus our mutual dedication to exceptional patient and product experiences."
HealthPay24, a recognized leader in cloud-based patient payment software, continues to pioneer consumer-driven solutions to the ever-increasing patient pay responsibility. Its SaaS product design ensures the unique, ongoing, ability to adopt emerging & AI technologies for the benefit of its client base. Founded in 2001, the solution equips providers with best in class POS and online payment portals, plus new patient messaging and analytics engines. The solution captures and manages the patient financial responsibility as early as pre-service estimation through post-service, provides flexibility and convenience for online and POS collections, and fuels productivity to financial posting and reconciliation processes. https://www.HealthPay24.com/
Headquartered in Atlanta, Curae works with acute, hospital and Integrated Delivery Network providers across the United States to empower providers to better serve patients through a suite of flexible, patient friendly non-recourse-based financing options. Our software as a service platform enables ease of integration and our mobile first customer experience enhances patient engagement.
As consumerism continues to drive healthcare purchasing behavior, Curae Finance, LLC. is uniquely positioned to improve patient satisfaction, increase collections and improve provider efficiencies. www.curae.com
(1) Lapointe, Jacqueline. (2017, Sept. 29) Consumers Favor Patient Financial Responsibility Loan Programs. Retrieved from: RevCycleIntelligence.com