SAN DIEGO, Oct. 7, 2011 — CSI Financial Services (CSI), the healthcare industry’s leader in providing patient-friendly bank loans, announced today that its portfolio of patient accounts grew by more than 36 percent through the third quarter of 2011.
During the quarter ending September 30, 2011, CSI Financial Services generated record growth in terms of expanding its portfolio of patient accounts among the more than 200 hospitals and physician clinics nationwide that offer ClearBalance® patient-friendly bank loans. Expansion with existing hospital clients was driven by an increase in patient demand as well as new revenue cycle solutions provided by CSI. CSI also recorded strong performance from its newest healthcare provider clients, including Ochsner Health System in Louisiana, Centra Health in Virginia and Somerset Hospital in Pennsylvania.
Bruce Weintraub, CSI’s vice president of marketing, said demand from patients is “greater than ever” for the company’s ClearBalance bank loans. Through the ClearBalance program, all patients may instantly qualify for a bank loan, regardless of their credit score, in order to repay their out-of-pocket hospital expenses with affordable monthly payments.
Weintraub further explained that the company’s growth also is being fueled by patients who receive bank loans to repay their self-pay balance for services performed at physician clinics, oncology and orthopedic specialty centers.
According to a new study sponsored by the Kaiser Family Foundation, 31 percent of covered workers are in a health plan with a deductible of a least $1,000 for single-person coverage, meaning that patients have an ever-growing financial responsibility for their healthcare costs — even those who have some type of health insurance coverage.
“As healthcare costs continue to skyrocket, it’s imperative that patients find an affordable means of dealing with an oftentimes unexpected healthcare bill,” he added. “Our healthcare clients are providing their patients with a vital program to support their financial well-being, and that’s at the core of our explosive growth during the first three quarters of 2011.”
About CSI Financial Services
CSI Financial Services is the premier provider of patient loan programs. Since 1992, CSI has funded more than $600 million in patient loans, enabling hundreds of thousands of patients to affordably pay off their healthcare obligations. CSI maintains its corporate office in San Diego, Calif., with regional sales offices throughout the United States. For more information about the ClearBalance program, visit www.ClearBalance.org.