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Loan Self-Enrollment Capability Empowers Patients and Alleviates Billing Burden for Providers

Posted by Jessica Toney | Mar 23, 2020 12:34:44 PM

A growing number of patients are self-enrolling in the Epic River patient lending program and everyone is winning. Patients are getting the care they need with a loan solution they can afford and providers are recouping timely payment for services without the burden of billing. The key to this winning scenario is patient self-enrollment. And it’s more of a game-changer than you might think, here’s why...

Openly talking about personal finances can be tough and most of us would prefer not to do it, especially with strangers. It’s simply human nature. Sharing this type of information can make us feel vulnerable and for some, even embarrassed. The ability to self-enroll in the Epic River loan program and be guaranteed loan approval circumvents this very real barrier for many patients. They’re empowered to explore their medical loan options from the privacy of their own home and maintain their dignity. 

Providers are equally excited about self-enrollment because it encourages more patients to get the financial support they need to pay their medical bills. Not to mention that the responsibility for billing shifts from the provider to the participating bank lender. This takes a huge load off of medical practice staff and frees up significant resources. And that’s not all… providers love this set-up because they receive timely payment for the patient’s portion of their bill from the bank lender.

Bottom line, loan self-enrollment is a simple and effective solution to help patients overcome the psychological barriers that can come with applying for a loan. It’s equally beneficial for providers when their patients secure an Epic River loan. They’re able to relinquish the burden of collections and maintain healthy cash flow.

 

Topics: patient loans

Written by Jessica Toney

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