HFA Offers a Better Way for Patients to Pay
High deductible health plans have made health insurance premiums more affordable for more people. However, the rise in out-of-pocket medical expenses have become a burden to the middle class and an increasing challenge for healthcare providers.
The Problem: Patient Utilization is Down & Defaults Are Up
Medical expenses come up unexpectedly and relentlessly. Hospitals and healthcare providers are seeing patients delay or even forego treatment due to the cost of medical bills.
- 40% of Americans can’t cover a $400 emergency.
- In some cases, studies show that insured patients are skipping check-ups, delaying diagnosis, and scrimping on care.
- Highlighting the point further, 78% of U.S. households live paycheck to paycheck including 10% of those making over $100k who say they can’t make ends meet.
Providers need a solution that offers patients and easier way to pay for out-of-pocket medical expenses without increasing the burden on the household budget, while providing patients with an all digital experience that fits their lifestyle.
The Solution: HFAs All Digital Healthcare Loan Platform
Our all digital healthcare loan application process and billing platform are built with a patients-first approach to increase patient utilization of provider services, accelerate A/R, and provide great patient satisfaction with the medical billing experience.
Solutions that HFA provides include:
- 100% digital engagement – we connect with patients right where they’re at
- Real-time approvals – scheduled, acute, or elective
- Proprietary in-house loan servicing – HFA is not reliant on banking partners for regulatory compliance
- No cherry picking – all commercially insured patients are eligible for HFA loans
Digital Works – A Better Patient Billing Experience
Scheduled Care: Pre-visit
– 98% of text messages are opened
– 90% are read within 3 seconds
– 87% of patients listed convenient payment as a high demand feature
Scheduled Care: Post-visit
– Allows the patient a stress-free experience to understand and pay their out-of-pocket expense
– Eliminates inefficient calls for patient payment
Ready to Learn More?
Get in touch with HFA by filling out this interest form to learn more about our 0% APR healthcare loans and how our completely digital platform can increase patient utilization and accelerate A/R in your facility or practice.