--- title: Integrating Patient Financing into Your Loan Process description: Integrating Patient Financing into Your Loan Process --- [![Epic River](https://blog.epicriver.com/hs-fs/hubfs/color-transparent-logo.png?width=320&name=color-transparent-logo.png "Epic River")](http://www.epicriver.com/home) - [Home](https://www.epicriver.com/) - [About](https://www.epicriver.com/about) - [Our Solution](https://www.epicriver.com/) - [News](https://epicriver.com/#) - [Contact](https://www.epicriver.com/) - [Support](https://knowledge.epicriver.com/knowledge/kb-tickets/new) - [Knowledgebase](https://knowledge.epicriver.com/knowledge) ![blog_bg-2023-1](https://blog.epicriver.com/hubfs/blog_bg-2023-1.png "blog_bg-2023-1") # Integrating Patient Financing into Your Loan Process Posted by [Jessica Toney](https://blog.epicriver.com/author/jessica-toney) | Aug 29, 2013, 10:26:42 AM - [Tweet](https://twitter.com/share) Patient financing.  Just about every bank has tried it.  Most financial institutions agree that if the patient has the credit worthiness and the dollar amount of the loan is large enough, patient financing is good business for the bank.  The problem is, almost all patient financing is small dollar amount and the time and cost of underwriting simply isn't worth it. ![](https://blog.epicriver.com/hs-fs/hubfs/Imported_Blog_Media/Time-Magazine-Bitter-Pill-chart-300x282-1.png?width=300&height=282&name=Time-Magazine-Bitter-Pill-chart-300x282-1.png) Historically patients have been forced to rely on their personal credit card or "medical" credit cards. (Think Home Depot card with the a same-as-cash introductory period and then an absurd interest hammer if you don't pay it off before the introductory period ends.)  Time Magazine's ["Bitter Pill"](http://www.time.com/time/magazine/article/0,9171,2136864,00.html) article noted that 20% of the United States' GDP is spent on healthcare and that PERCENTAGE is rising every year.  That is $2.8 trillion that is being added to revolving credit balances, coming out of depleted savings accounts or being squeezed into monthly budgets and paid through medical provider financed payment plans. ## MyLoans™ Patient Financing can Help So how do we take patient financing and make it helpful to patients, non-invasive for medical providers and profitable for banks?  The key is automation and outsourcing.  No.  Not *that* kind of outsourcing.  I'm talking about outsourcing the application, approval and underwriting process to the medical provider.  MyLoans™ by [Epic River](http://epicriver.com) allows the bank to enable a medical provider to generate patient financing loans at a fair (and government regulated) interest rate.  The bank gets a new interest revenue opportunity they have barely touched.  The medical provider gets a better means of collecting payment.  The patients get a means of financing that is predictable, fair and more likely to fit within their budget. Drop us a line and we can put you in touch with the banks that use MyLoans™ to become very successful in the patient financing market. Topics: [News](https://blog.epicriver.com/topic/news) #### Written by [Jessica Toney](https://blog.epicriver.com/author/jessica-toney) ## Leave a Comment ### Recent Posts ### Topics - [Bankadelic (2)](https://blog.epicriver.com/tag/bankadelic) - [banking opportunities (6)](https://blog.epicriver.com/tag/banking-opportunities) - [Blog (5)](https://blog.epicriver.com/tag/blog) - [CRA ratings (1)](https://blog.epicriver.com/tag/cra-ratings) - [Credit Unions (5)](https://blog.epicriver.com/tag/credit-unions) - [DAR (1)](https://blog.epicriver.com/tag/dar) - [esignature services (1)](https://blog.epicriver.com/tag/esignature-services) - [Financial Education (2)](https://blog.epicriver.com/tag/financial-education) - [financial institutions (10)](https://blog.epicriver.com/tag/financial-institutions) - [Health Care Loans (19)](https://blog.epicriver.com/tag/health-care-loans) - [health credit services (6)](https://blog.epicriver.com/tag/health-credit-services) - [health credit services online (11)](https://blog.epicriver.com/tag/health-credit-services-online) - [healthcare administration (4)](https://blog.epicriver.com/tag/healthcare-administration) - [healthcare administrative costs (1)](https://blog.epicriver.com/tag/healthcare-administrative-costs) - [healthcare billing (2)](https://blog.epicriver.com/tag/healthcare-billing) - [healthcare billing solutions (3)](https://blog.epicriver.com/tag/healthcare-billing-solutions) - [healthcare costs (1)](https://blog.epicriver.com/tag/healthcare-costs) - [healthcare finance (6)](https://blog.epicriver.com/tag/healthcare-finance) - [Healthcare Finance Online (13)](https://blog.epicriver.com/tag/healthcare-finance-online) - [healthcare financing (2)](https://blog.epicriver.com/tag/healthcare-financing) - [healthcare lending (3)](https://blog.epicriver.com/tag/healthcare-lending) - [healthcare loans (4)](https://blog.epicriver.com/tag/healthcare-loans) - [hospital financing (3)](https://blog.epicriver.com/tag/hospital-financing) - [Lending as a Service (7)](https://blog.epicriver.com/tag/lending-as-a-service) - [low-interest medical loans (2)](https://blog.epicriver.com/tag/low-interest-medical-loans) - [medical bill financing (2)](https://blog.epicriver.com/tag/medical-bill-financing) - [medical billing (7)](https://blog.epicriver.com/tag/medical-billing) - [medical billing solutions (7)](https://blog.epicriver.com/tag/medical-billing-solutions) - [medical debt (4)](https://blog.epicriver.com/tag/medical-debt) - [medical finance (2)](https://blog.epicriver.com/tag/medical-finance) - [Medical Lending (24)](https://blog.epicriver.com/tag/medical-lending) - [Medical Loan Financing (18)](https://blog.epicriver.com/tag/medical-loan-financing) - [medical loans (7)](https://blog.epicriver.com/tag/medical-loans) - [News (78)](https://blog.epicriver.com/tag/news) - [patient billing solutions (1)](https://blog.epicriver.com/tag/patient-billing-solutions) - [patient financial services (5)](https://blog.epicriver.com/tag/patient-financial-services) - [Patient Financing (26)](https://blog.epicriver.com/tag/patient-financing) - [patient lending (19)](https://blog.epicriver.com/tag/patient-lending) - [patient loans (3)](https://blog.epicriver.com/tag/patient-loans) - [patient responsibility (3)](https://blog.epicriver.com/tag/patient-responsibility) - [patient satisfaction (1)](https://blog.epicriver.com/tag/patient-satisfaction) - [Podcast Feature (3)](https://blog.epicriver.com/tag/podcast-feature) - [price transparency (1)](https://blog.epicriver.com/tag/price-transparency) - [reduce DAR (2)](https://blog.epicriver.com/tag/reduce-dar) - [revenue cycle management for physicians (2)](https://blog.epicriver.com/tag/revenue-cycle-management-for-physicians) - [Team (1)](https://blog.epicriver.com/tag/team) see all ### Subscribe #### About Us Our commitment to utilize the lowest cost of capital and remove all unnecessary overhead from the loan process enables us to help everyone make the best possible financial decision when borrowing money. #### Latest Blog Posts #### Contact Us 242 Linden Street Fort Collins, CO 80524 Phone: (970) 292-5045 Email: info@epicriver.com © 2020 Epic River - - -