Leadership Position Fortified by Health Systems Adapting to Increase in Patient Pay
SAN DIEGO, Oct. 2, 2014 – ClearBalance®, the leading provider of consumer-friendly patient loan programs, announced that it has added several new health systems to its client base. The new partners represent leading health systems from all parts of the country. More health systems are pursuing alternatives and enhancements to internal payment plans. They’re also using consumer-friendly loan programs to build brand loyalty and drive census.
The continued growth in new clients and increased volume from existing clients indicates that health systems nationwide are realizing they must adapt to increases in patients’ financial obligation for their care, according to Mitch Patridge, ClearBalance president and CEO. ClearBalance patient loan programs are integral to best-practice revenue cycle operations. “Health systems are focused on maintaining market share and driving net revenue,” Patridge says. “They must do everything possible to encourage patient loyalty by providing quality care that is accessible, convenient and affordable. ClearBalance is an essential tool that enables health systems to achieve those goals.”
Northern Hospital of Surry County in Mount Airy, N.C., Good Samaritan Hospital in Vincennes, Ind., and Bay Area Hospital in Coos Bay, Ore., are among those health systems now using ClearBalance’s Zero Interest Flex Program. These organizations– and others – are offering ClearBalance patient loan programs to remain competitive by making care affordable for their patients and community.
“We do not want our patients delaying care due to financial constraints,” states Rob McLin, Good Samaritan Hospital president and CEO. “The ClearBalance program puts patients at ease knowing they can manage their financial obligations affordably without the stress of paying their medical bills.”
A ClearBalance consumer-friendly patient loan program enables healthcare leaders to address the market disruption caused by high deductible health plans, maintain cost-effective collections, reduce bad debt and increase patient satisfaction.
“The patient’s experience with a healthcare provider goes beyond his or her clinical care,” Patridge says. “Ensuring patients have an affordable option and easy process to pay their obligations can directly impact patient satisfaction scores. We’re focused on increasing the provider’s net recovery and, most importantly, enhancing the patient’s overall experience with the provider.”
“We looked for a true and understanding partner that would put our patients’ needs first and act as an extension of Good Samaritan Hospital,” McLin says. “The ClearBalance team is committed to ensuring the best possible patient experience. They are the right fit for us.”
ClearBalance is the leading provider of consumer-friendly patient loan programs to U.S. hospitals and health systems. Based in San Diego, ClearBalance has served more than 3.8 million patient accounts at hundreds of healthcare organizations nationwide since 1992. ClearBalance maintains the highest loan repayment rates in the industry. Our healthcare partners are able to significantly improve operating margins by increasing collections. They can also ensure a positive experience for patients who appreciate the ability to affordably repay their direct cost of health care. www.ClearBalance.org.
Contact: Laurie Heavey, VP Product & Strategic Marketing