A Comprehensive Patient Payment Solution that Works for Providers and Patients
Rising deductibles and the increased financial burden placed on patients have made it more difficult for patients to pay their medical bills. According to a recent survey, nearly one in five working-age Americans with health insurance have trouble paying their medical bills.[i] Healthcare providers often struggle with collecting on that outstanding debt, diverting valuable time and resources away from attention to patient care.
The Solution: MedEZPay
Meduit has introduced a solution called MedEZPay that shifts the responsibility of collecting charges owed by patients from the provider onto financial institutions and the patient. Meduit connects patients with banks that provide the patient with a zero or low interest loan that requires no credit check. The patient works with the bank to set a monthly payment that fits their budget, and the bank pays the healthcare provider upfront.
What’s in It for Patients?
MedEZPay offers flexible payment terms, and patients are empowered to work their medical bills into their budgets. Patients with no credit history or past credit challenges can build credit through the program. For the patient, the benefits are enormous:
- All patients qualify
- Patients can build or improve their credit
- Payments can be made using pretax, HSA dollars
- Available even to non-U.S. citizens
- No surprise fees or repayment penalties
MedEZPay moves the responsibility of collecting outstanding debt from the provider to the bank. The provider receives the charges owed by the patient upfront at no cost and drives revenue to their bottom line. It’s a win-win for both patient and provider, extending “Do no harm” to the patient’s financial wellbeing.
Click here to learn more about MedEZPay.
Click here to see the MedEZPay video.
Meduit is one of the nation’s leading revenue cycle solutions companies with decades of experience in healthcare revenue cycle management, serving more than 500 hospital and physician practices in 46 states. Meduit combines a state-of-the-art accounts receivable management model with advanced technologies and an experienced people-focused team that takes a compassionate and supportive approach to working with patients. Meduit significantly improves financial, operational, and clinical performance, ensuring that healthcare organizations can dedicate their resources to providing more quality healthcare services to more patients. For more information, please visit www.meduitrcm.com.
[i] https://www.natlbankruptcy.com/us-medical-debt-statistics/. Accessed 3.04.19.