Expanding your footprint into a new market area can be tricky to say the least. Jumping off takes some very fuzzy math and guesswork. We have recently learned from a customer that MyLoans™ Patient Financing can actually take a lot of the guesswork out of opening a new branch and improve the odds of success.
By establishing MyLoans, medical providers can begin patient financing, and you can add a new low risk, high interest revenue line specifically for your new branch long before it ever opens its doors. The new borrowers instantly become new customers of that branch. What better way to introduce yourself to a new customer than by financing a medical procedure? MyLoans enables your financial institution to meet the growing need to finance ever-increasing healthcare costs. Our innovative approach to the relationship between financial institution and medical provider mitigates credit risk and allows you to book high-yield, low-risk consumer loans, created from your existing medical providers' clients.
Drop us a line and we'll show you how other banks have used MyLoans Patient Financing to ensure successful growth into new market areas!
About MyLoans™
By providing patients with fast access to medical loans at a fair and unchanging interest rate, the MyLoans™ software by Epic River enables financial institutions to ease the financial stress of health care through collaboration with medical providers. Not only can medical providers offer patient financing between banks and patients for medical care needs, but doctors and hospitals alike can finally get immediate funding of their patient’s outstanding balances. Additionally, financial institutions gain new customers and interest income with little administrative overhead in exchange for servicing the loan. For more information, visit www.myloans.co.
About Epic River, LLC
Since its inception in 2005, Epic River has been providing high quality software services aimed at solving process-intensive problems. With a focus on high quality and rapid delivery, Epic River’s methodology accelerates the process of innovation while keeping a firm grasp on the business case behind the application, enabling our partners to grow their market leadership. The company’s unique approach to the agile methodology and user experience ensures both parties work closely together every step of the way. Whether you’re looking to expand into new technologies or markets, need a custom internal tool, assistance with architecture, or simply need someone you can trust to make technology decisions, Epic River is at your service. For more information, visit www.epicriver.com.
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