HFD and Enova Decisions team up on patient underwriting

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HFD and Enova Decisions team up to build the new standard of patient underwriting for elective healthcare financing

BAKERSFIELD, Calif.June 4, 2020 /PRNewswire/ — HFD, a leading FinTech company, and Enova Decisions, an analytics company, today announced a strategic partnership to build the new standard of patient underwriting for elective healthcare providers.

This advanced patient finance underwriting model is powered by HFD’s platform and Enova Decisions’ consumer lending and real-time analytics expertise. By using Enova Decision’s core capabilities in artificial intelligence, machine learning, and data analytics, HFD can bring modern underwriting capabilities to patients seeking alternative payment options for elective treatment.

“Enova has been profitably lending off its own balance sheet for over 15 years. We know what data, both internal and external, predicts consumer payment behavior and we know how to use machine learning and AI to activate that data to drive real-time decision-making,” said Jim Granat, Senior Vice President, Enova Small Business and Enova Decisions. “Enova Decisions brings this analytics know-how and real-time decisioning technology to HFD.”

“Our vision is to make it easy for providers to give patients access to treatment. Elective treatment is rarely covered by insurance and lenders don’t finance every patient because they rely heavily on credit scores – leaving a large portion of the market to go untreated. This partnership allows providers to understand their patients propensity to pay using modern data beyond a credit score, so they can offer more financing options in a manner that is sustainable and lowers risk,” said Ron Johnson, CEO, HFD. 

“HFD was founded following the recession in 2008 as a result of lenders tightened their underwriting standards. HFD made it possible for providers to offer alternative payment solutions to all of their patients declined by lenders. Providers will potentially face similar battles with COVID-19 as our economy recovers.”

Through this partnership, healthcare providers using the HFD platform will benefit from more accurate credit risk assessments as they offer pay over time options for their patients who were not approved by their lender-based options.

Join us on Tuesday, June 30th – to get a glimpse at how this partnership can create opportunities for elective healthcare providers. https://attendee.gotowebinar.com/register/8879251692875195919

About HFDHFD offers elective healthcare providers the opportunity to offer a financing solution to patients denied by lenders. We provide a technology platform, account servicing care teams, and the financial infrastructure for providers to put their patients on pay over time plans and earn interest. It’s no longer if a patient will get financed, but who will finance them.

About Enova DecisionsEnova Decisions is a leading analytics and decision management tech company that eliminates resource and technology constraints preventing businesses from accessing new revenue sources faster. Founded in 2016, Enova Decisions enables businesses to automate and optimize fraud, credit, and marketing decisions through AI and the cloud. For more information, visit www.enovadecisions.com.


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