SAN DIEGO, June 21, 2012 — CSI Financial Services (CSI) announced today that it has secured a commitment from U.S. Bank to fund its patient-friendly loans, marketed under the ClearBalance® brand. The new funding capacity from U.S. Bank will help CSI meet the increased demand from healthcare providers looking to manage the growth in self-pay receivables while improving patient satisfaction.
CSI recently reported that its portfolio of patient accounts grew at an annualized rate of more than 20 percent during the first quarter of 2012. Through this new relationship, CSI will expand its capability to provide patients with a patient-friendly way to pay their out-of-pocket hospital expenses over time with low monthly payments. In fact, ClearBalance’s zero- and low-interest financing — funded by U.S. Bank — will be implemented with new healthcare clients within the next 90 days.
“U.S. Bank has a strong track record of success in devising innovative healthcare financial programs that offer value to providers and patients,” said Mitch Patridge, CSI’s chief executive officer. “We’re confident that merging CSI’s best-in-class customer service center — ensuring the highest level patient satisfaction — with the financial resources of U.S. Bank truly represents a ‘win-win’ combination for healthcare providers and patients alike.”
“We are very pleased to partner with CSI to bring a leading financial solution to patients and providers,” says Ralph Bernstein, SVP of Emerging Strategies and Innovation for U.S. Bank Corporate Payments Systems. “As individuals assume a greater share of their healthcare costs, and look for new ways to pay for that care, affordable financing becomes a critical payment tool for them. It also benefits healthcare providers by giving them a trusted set of partners for their revenue cycle management efforts. ”
About CSI Financial Services
CSI Financial Services is the premier provider of patient loan programs. Since 1992, CSI has helped its healthcare clients streamline the revenue cycle and efficiently collect patient balances. Equally important, the ClearBalance loan program helps healthcare providers achieve their primary mission of increasing patient satisfaction. CSI maintains its corporate office in San Diego, Calif., with regional sales offices throughout the United States. For more information about the ClearBalance program, visit www.ClearBalance.org.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $341 billion in assets as of March 31, 2012, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,080 banking offices in 25 states and 5,061 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.