When you help medical providers finance their patients procedures, things tend to add up.
“Why should we use your company, we can do the same thing with in-house financing”?
At Healthcare Finance Direct, we frequently receive calls from providers who are looking for a 2nd, even 3rd option for financing their patients because they are experiencing an influx of turn downs from their “Primary” lenders. They are trying to find a solution that mitigates their patient declinations while still receiving their money in advance. They love the fact of getting paid upfront and that the financial risk for them is low (or so it seems), even if that comes with paying a startup fee, monthly fees and/or annual fees. And who wouldn’t want that? There is no better feeling than getting money immediately placed in your pocket.
So how does HFD solve this problem?
Every doctor has the desire to serve all of their patients, and every businessman wants to say yes to their clients as long as it is profitable for the business. In many cases, the doctor must make strategic health decisions along with profitable financial choices for their shop. In other cases, the doctors can focus on surgeries and procedures while designated businessmen handle financial requirements. I’ll explain why both situations are at war with the exit sign and what they can do to reclaim what it keeps stealing.
If you are currently offering in-house patient financing as a way of helping your patients pay for care, we want to encourage you to look at FaaS (Finance as a Service) as a way of managing the program. Most of the national providers who have converted to our FaaS model, offered in-house patient financing as a necessary part of growing their business. Unfortunately, that meant managing things like credit, missed payments, balance reconciliation, patient disputes and the litany of regulatory burdens that come along with being a lender to your own patients. We saw this as an opportunity to help, so we built the nation’s first FaaS model, nearly 7 years ago.
Some friends of mine always sign their emails off with the tag line "With Gratitude". When I first saw this I thought, wow that is a great way to express or convey an emotion that is not very common in today's business climate. So with their permission I started using it on my emails. Not wanting to change my "canned" signature I began typing it into emails before sending them. As I did I noticed that I was consciously requiring myself to be grateful for everything I was doing and expressing that gratefulness to others. My attitude toward many things has changed since I began this journey of gratitude.