SAN DIEGO, October 6, 2010 – CSI Financial Services (CSI) today announced the launch of ClearBalance, a newly branded program that provides greater “peace of mind” to healthcare providers and improves the overall patient experience by offering patients zero- and/or low-interest loans to ease the burden of medical expenses.
CSI is so confident in the ClearBalance programs ability to meet the needs of its healthcare clients and patients that it’s introducing a healthcare industry exclusive: a patient-loan program featuring a Money Back Guarantee. The ClearBalance guarantee eliminates any uncertainty from its patient-friendly loan program by rebating its servicing fee if the ClearBalance program exceeds its low default rate target.
ClearBalance by CSI, the healthcare industry’s leader in providing zero- and low-interest patient loan programs with affordable monthly payments, ClearBalance allows patients to meet their self-pay obligations and avoid going through the collections process. In fact, since 1992, CSI has provided bank loans to more than 500,000 patients nationwide with a 99 percent patient satisfaction rate. CSI maintains a full-service, in-house customer call center which focuses on providing responsive, patient-friendly support.
“CSI has become one of the healthcare industry’s fastest growing companies by supporting hospitals nationwide in their overall mission: caring for the physical and financial well-being of the members of their community,” said Mitch Patridge, CSI president and CEO. “By introducing ClearBalance, we are providing our clients with a patient-friendly loan program that addresses not only the challenge of managing self-pay receivables, but also improves their relationship with patients by helping ease the burden of patients who may already be facing a tough financial situation.”
With ClearBalance, healthcare providers can choose the loan program that best fits their mission, financial objectives and the needs of their patients. The ClearBalance program provides a proprietary Web Portal that allows loan requests to be submitted via a secure website. Accounts may be referred to the ClearBalance program at admissions, patient financial services and/or just prior to bad debt via the ClearBalance automated submission process.
According to Patridge, ClearBalance offers healthcare providers a series of financial and patient benefits including:
• A 99 percent patient satisfaction rate
• Accelerated cash from self-pay receivables
• Reduced A/R Days
• Reduction of bad debt by 20 percent
“Higher deductibles and co-pays are creating a greater wave of self-pay patients, most of whom cannot afford to make a lump-sum payment to meet this financial obligation,” Patridge said. “The ClearBalance program gives patients the ability to re-pay their self-pay bill over time, while allowing hospitals to accelerate their cash, reduce their overall bad debt and continue to best serve their community.”
ClearBalance by CSI Financial Services is a premier provider of patient loan programs. Since 1992, CSI has funded more than $500 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.
Media Contact: Bruce Weintraub, VP, Marketing Phone: (858) 200-9208