University of Mississippi Medical Center (UMMC) expands flexible payment plans to address the community’s financial needs
CHARLOTTE, N.C., July 28, 2020 – AccessOne, a leading provider of patient financing options designed to help consumers manage their healthcare costs, today announced its partnership with the University of Mississippi Medical Center (UMMC), Mississippi’s only academic medical center. With AccessOne’s patient financing programs, UMMC will give patients access to a variety of affordable payment options to ensure their financial situation does not prevent them from seeking the care that they need.
Many Americans are putting off non-emergency care due to financial concerns, according to a recent New York Times article. What’s more, a recent AccessOne survey found that nearly two-thirds of consumers are concerned that they won’t be able to pay their medical expenses this year.
“Many Mississippians are struggling during the COVID-19 pandemic, and the state’s unemployment rate has more than doubled since March,” said Jeff Grimsley, CFO of the UMMC health system. “With so many families experiencing financial strain right now, a recent survey shows that more than half of consumers plan to delay medically necessary care. By giving all patients access to more options and greater flexibility in paying their medical bills, it is our hope that more families can focus on getting the care they need without worrying about short-term affordability.”
UMMC patients are now able to choose from zero-interest plans and a range of lower monthly payment plans with low interest. There will be no changes to the terms of existing plans.
“There are significant implications to delaying non-emergency but medically necessary care, from increased risk of health complications to higher healthcare costs over the long run,” said Mark Spinner, CEO of AccessOne. “Our partnership with UMMC helps provide a vital financial resource for all patients in need while strengthening the ability of UMMC to provide needed care.”
AccessOne’s solutions were implemented via a 100% virtual process at UMMC to avoid any unnecessary risk of spreading COVID-19 during the pandemic.