SAN DIEGO, June 18, 2013 — ClearBalance® announced today that it has exceeded more than 3.3 million patient accounts serviced, as the company fortifies its market position as the leading national provider of patient-friendly, interest-free loans.
ClearBalance Chief Executive Officer Mitch Patridge said the increase in patients covered by high-deductible health plans is having a two-fold impact. First, the increase in patient balances has placed additional financial pressure on hospitals to implement programs that increase collections while maintaining a high level of patient satisfaction. Second, in many cases, patients are realizing that they haven’t adequately saved for the deductible, and they are looking for solutions from healthcare providers.
Patridge explained long-term ClearBalance clients — such as Texas Health Resources, St. Vincent Health (Indianapolis) and Florida Hospital — have continued to be proactive in meeting patient needs and have expanded the ClearBalance program to additional facilities. Other health systems, including Novant Health, Via Christi Health and PinnacleHealth, have recently engaged ClearBalance to offer the company’s patient-friendly loans to their patients.
Patridge noted that a recent survey by TransUnion Healthcare substantiates the connection between a positive billing experience and a patient’s willingness to seek preventive healthcare options, such as regular checkup and cancer screenings.
Craig Pergrem, Senior Director, Customer Service Care Center at Novant Health, confirms that the ClearBalance program plays a key role in delivering a positive patient experience. “We understand the changes in healthcare are ongoing. ClearBalance gives our patients and their families a choice in decisions with regard to high-deductible plans and large out-of-pocket expenses that are rarely planned. Novant Health feels this is one part of the Remarkable Patient Experience,” Pergrem said.
Patridge adds that, stated simply, “ClearBalance helps make healthcare affordable.”
“Ensuring a positive billing experience has become critically important for healthcare providers as they strive to keep healthcare — particularly preventive measures — affordable for their patients. Our growth confirms that we’re part of the solution,” Patridge said.
The ClearBalance program offers patients an interest-free, revolving line of credit with repayment periods that can extend up to 72 months. Among its many patient-friendly features, the ClearBalance program requires no written application, and all patients may qualify for a ClearBalance loan in 30 seconds or less, regardless of credit score.
ClearBalance is the premier provider of patient-friendly loan programs. Since 1992, ClearBalance has helped its healthcare clients streamline the revenue cycle and efficiently resolve patient balances. Equally important, the ClearBalance loan program helps healthcare providers achieve their mission of increasing patient satisfaction. ClearBalance 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.