East Central Florida’s largest healthcare provider to offer flexible patient financing options
CHARLOTTE, N.C. – AccessOne, a leading provider of patient financing options designed to help patients manage their healthcare costs, today announced its partnership with Halifax Health, East Central Florida’s largest health system with more than 500 physicians and 56 subspecialties. AccessOne’s tailored financing programs will give Halifax Health the ability to offer patients flexible payment options regardless of circumstance, ultimately improving patient access to care.
“For the past 90 years, we’ve offered our community award-winning clinical outcomes and innovation in technology, and we consider our partnership with AccessOne an extension of that excellence,” said Arvin Lewis, SR Vice President and Chief Revenue Officer at Halifax Health. For many patients, the cost of their copay and deductible is out of reach, “With AccessOne, Halifax Health will now be able to provide tailored, consumer-driven financing options to address our patients’ increasing financial burdens.”
According to Advisory Board Company’s 2017 Revenue Cycle Survey, the number of denied claims hospitals wrote off as uncollectable increased by 90 percent as compared to six years ago, a difference of $3.5 million for a median 350-bed hospital. The upward trend in patients’ out-of-pocket expectations and premiums continue to grow due to policy changes and instability, leading to an affordability crisis that can be mitigated by improved patient financial options.
Halifax Health plays a vital role in its community as a safety net hospital, providing care to all patients, regardless of their ability to pay, including $44.4 million in uncompensated care at cost and $17.1M in subsidized services. Despite the financial burden of serving its more vulnerable populations, this health system has continuously focused on Safety, Compassion, Image & Efficiency, to expand its services and market.
“Patients should never have to worry about affording access to the care they need,” said David White, EVP of Business Development for AccessOne. “Halifax Health and Access One share a mission of improving access, and we’re eager to further support them in helping every patient afford the care they need to live their life well.”