why would I do that if I can offer the same
credit line for an 18-month promotion and
only pay a 6% fee?" asks Ms. Getlan.
4. Reputation.
With the number of patient
financing options growing each day (we came
across dozens while researching this story),
the identity of your financing company is crit-
ical.
"When you're evaluating potential vendors,
you have to look at reputation," says Beto
Casellas, CEO of CareCredit, a healthcare
lending company headquartered in Costa
Mesa, Calif. With more than 100 years of
experience (nearly 30 years for CareCredit
and 80 for its parent company, Synchrony),
CareCredit is generally the most well-known
and relied upon name in the patient financing
space.
Of course, facilities have plenty of options
— and not looking closely at these many
options could come back to haunt you.
"I think sometimes facilities aren't doing
enough research and looking at all the offer-
ings that are available to them in the mar-
ket," says BHG's Mr. Crawford. "Maybe
there's a tendency to just go with the status
quo and say, 'Oh, I've heard of that, it must
be something I should offer.'"
Still, you want some assurances from a
7 2 • O U T PA T I E N T S U R G E R Y M A G A Z I N E • A U G U S T 2 0 1 9
A Better Idea for Patient Financing
Patients are delaying care until
they meet their deductible,
leaving providers to struggle
with low volume, especially
early in the year.
This leads to capacity utilization
issues and operational cost
burdens.
CarePayment's 0.00% APR
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drives increased patient volume
by removing out of pocket
costs as a barrier to care.
On average, we collect two
times more than current
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times more than any other
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our fees.
carepayment.com
High deductibles
used to cause
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volume challenges.
Today, they are an
all year concern.
