PatientFinancialEngagementIsKey-AccessOne-Payment-Plans

AccessOne Report: Facing Loss of Income and Insurance, Many Americans Fear They Will Be Unable to Afford Medical Expenses in 2021

Survey finds patients want to talk about coverage and payment options before receiving care, but say providers aren’t initiating those discussions.
AccessOne, a leading provider of patient financing options designed to help patients manage their healthcare costs, announced it has closed its previously announced acquisition of HealthFirst Financial, a leading software-enabled service provider of patient financing programs to healthcare organizations.
Hospital revenue cycles don't function properly unless patients pay -- the economics cannot get much simpler. But unless a hospital offers some sort of flexible payment plan options, certain patient groups simply won't be able to pay, with self-pay patients and those with high-deductible plans being the most vulnerable.
Kaizen, a Japanese word meaning “good change”, focuses on continuously looking for ways to streamline and enhance performance. It’s a proven and powerful way to leverage your greatest assets—employees.
Hospitals are partnering with companies like AccessOne to offer low or no-interest medical loans that don’t require a credit check. That can be a better option than putting the payment on a high interest credit card if you can’t pay what you owe quickly.
Steve Burr, Senior Vice President of Patient Financial Services at Atrium Health, shares how some health systems have created flexible financing options that helped them successfully reduce their financial risk and bad debt while easing the financial burden for patients.