will ultimately allow you to keep a potential
patient who's shocked to find he's responsible for
$1,000 or more because of his high-deductible
health plan from canceling a surgery. You want the
technology to make it as easy as possible for the
patient to get instant approval at the desk of the
hospital or ASC, says Mr. Crawford, who's tech
interface provides facilities with a tablet to hand
over to prospective patients and fill out some very
basic info (3 webpages) before getting approved
for a loan within minutes.
Of course, technology isn't worth much when
there's an issue and you can't get ahold of some-
body to work you through an issue. So you want to
make sure the financing company has dedicated
customer service reps readily available. Your
financing company should also be able to provide
you with scripting on precisely how to present the
financing option to prospective patients ("A lot of
our patients choose to take advantage of this con-
venient 12-month …").
An ongoing process
One final thought to keep in mind: Selecting a
patient financing company isn't permanent.
"Evaluate your lender every year," says Ms.
Thomas. "You're not locked into a contract, so if
the lender isn't approving enough patients, if the
credit limit has dropped, if they aren't easy to get
ahold of, maybe it's time to look elsewhere."
OSM
A U G U S T 2 0 1 9 • O U T PA T I E N T S U R G E R Y. N E T • 4 3
" I sleep better at night ever
since I started working with
Echelon. My ASC's fi nancial
performance has never
been stronger."
~ Mr. H., ASC Owner
Call (888) 964-0506 today to accelerate your cash fl ows too.
Is Our Patient Financing Plan Right for You?
Mr. H., an ASC owner in South Florida, had a problem:
Low cash fl ow. Many of the patients treated at his facility had
insuffi cient or no insurance at all, resulting in an increase in:
• Letters of Protection (LOPs) and Medical Liens cases
• Contested No-Fault Insurance Receivables
In some cases, he was waiting years to receive reimbursement.
"These cases were literally killing my business's cash fl ow,"
so he decided to partner with Echelon Medical Capital,
among the largest medical receivable funding companies in
the country. Echelon assigns value to each case, immediately
funds the medical provider, and gets paid back when the case
settles or the claim is paid. Echelon advanced cash to the
center for its out of network insurance claims as well. The cash
fl ow needs of Mr. H were solved for good.
Better Than a Bank
™
EchelonMedicalCapital.com
"If your lender is only set up to approve a certain portion of
your patients, you're cutting off an entire population.
And chances are, they're your most credit-needy patients."
