The amount of revenue a healthcare provider earns is relative to the number of patients served. The great news is that there is an industry proven solution for converting the patients who normally walk out the door due to a lack of financing. Instead of turning away those patients who cannot qualify for typical financing, partnering with Healthcare Finance Direct can ensure that patients are able to pay for their services.
Typical forms of medical financing require a minimum credit score rating. Many patients cannot qualify for that financing due to a variety of reasons, including minimal credit history. Healthcare Finance Direct has developed a unique underwriting process to determine a client’s ability to pay, further reducing the likelihood of delinquency. Healthcare Finance Direct handles the entire process, from approving the patient’s loan, to collecting the payments, to delivering an accounting report to the provider with all payments.
Let’s look at some potential earning figures for healthcare providers who partner with Healthcare Finance Direct. If a provider is turning away 100 patients per month due to inability to pay, and by partnering with Healthcare Finance Direct they can get just half of those patients financed, then the charts below show the potential revenue a provider can earn.
Average Patient Finance Package
Average Procedure Cost: $4,050.00
Patient Down Payment (25%): $1,012.50
Financed Amount: $3,037.50
Patient’s Monthly Payment: $126.48
(Includes Principal and 18% Interest)
Loan Terms 30 months
Annual Program Summary *at Maturity
Total Down Payments Monthly: $101,250.00
Total Down Payments Annually: $1,215,000.00
Total Monthly Payments per Month: $332,436.32
Total Monthly Payments Annually: $3,989,235.89
All Payments Monthly: $433,686.32
All Payments Annually: $5,204,235.89
If you are a healthcare provider looking to increase your revenue, then simply empower your patients to pay-over-time with the help of Healthcare Finance Direct. Contact one of our analysts today for a personally customized program outlining your revenue potential.