Haupt joins ClearBalance from McKesson Corporation, where he served in a series of sales and business development positions with increasing leadership, including responsibility for all sales and support of enterprise revenue cycle products (HIS, Enterprise Imaging, etc.).

“Bruce’s experience and track record of delivering value to healthcare providers is a key component in our blueprint to meet growing market demand for ClearBalance patient-friendly loan programs,” said Mitch Patridge, ClearBalance chief executive officer.

Haupt, with over 20 years’ healthcare industry experience, joined McKesson in 2001 where he most recently served as vice president of business development. In that role he provided leadership for the company’s accountable care organization (ACO) strategy. In this role, he was responsible for working across all McKesson Technology Solutions business units to coordinate an ACO go-to-market and product solution strategy.

“ClearBalance is clearly the leader in a market that has great growth potential,” Haupt said. “The healthcare industry is experiencing the ‘perfect storm,’ driving the need for the ‘safe harbor’ provided by the ClearBalance patient-friendly loan program.”

Haupt adds that health systems are being “financially squeezed with the shift from fee-for-service reimbursement to pay-for-performance and accountable care, while at the same time consumers are being asked to pay ever higher deductibles in a challenging economy.”

“ClearBalance helps consumers fulfill their financial accountability while increasing net revenue and improving cash flow for healthcare providers — both of which are foundational to success in the new world of accountable care,” he explained.

Prior to joining McKesson, Haupt served as vice president, product marketing, at Eclipsys Corporation (now Allscripts), a leading provider of health information technology to large hospitals and integrated delivery networks.

A graduate of Cornell University, Haupt also served as an officer in the United States Navy.

About ClearBalance

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.

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.

About ClearBalance

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.

SAN DIEG0, May 10, 2013— ClearBalance^®, one of the country’s fastest-growing providers of patient-friendly loans, announced today that, during the first quarter of 2013, its volume of loan originations grew by 18 percent compared to the first quarter of 2012.

In the first quarter of 2013, the ClearBalance patient-friendly loan program was implemented at new healthcare providers located in Kansas, Minnesota and Florida, adding to the more than 250 hospitals and physician clinics nationwide that utilize ClearBalance.

According to Mitch Patridge, ClearBalance chief executive officer, the continued growth of high-deductible health plans heightens the importance that providers now place on delivering multiple payment options to their patients. An example of such is what has become the most popular program offered by ClearBalance, the Zero-Interest Flex Program, in which patients receive an interest-free, revolving line of credit with repayment periods that can extend beyond 72 months.

Patridge cited a recent study released by Towers Watson, which finds that employees’ share of premiums increased 8.7 percent between 2012 and 2013. Likewise, out-of-pocket expenses continue to rise — up by 15 percent over the last two years.

“This study, ClearBalance’s increasing amount of inbound interest from providers, and the growing loan volume among our existing clients illustrates the economic challenges facing healthcare providers and patients in terms of the shift in responsibility for the cost of medical expenses to patients,” Patridge said.

“The patient’s experience with a healthcare provider is not solely tied to his or her clinical care,” he added. “Ensuring patients have an affordable option to pay their obligations can directly impact patient satisfaction scores. We’re focused on delivering a program that not only increases net recovery of self-pay receivables, but, most importantly, enhances the patient’s overall experience with that provider.”

About ClearBalance

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.

During his career, Webster has accumulated an impressive blend of IT and revenue cycle experience, having previously served in a variety of senior-level positions at MedAssets and at XactiMed.

“Craig’s revenue cycle background, combined with his technological expertise, provides a powerful foundation for our company to further automate and streamline its operations, driving value for providers and patients alike,” said Mitch Patridge, ClearBalance chief executive officer.

While at MedAssets, Webster most recently held the position of senior vice president, revenue cycle technology operations. In this role, he was responsible for leading the revenue cycle technology division, including technical services, enterprise data management, and payor and compliance services.  Webster also supported the rollout of two MedAssets products, Collection Management and Access Integrity.

At XactiMed, Webster reengineered the XClaim platform to improve its performance and supported the launch of two new products that continue to operate on this platform.

“I’m excited about joining a company that is focused on improving the patient experience and provides a solution to hospitals that is easy to implement and easy to manage,” Webster said.  “ClearBalance’s focus on patient satisfaction is key to driving its success and rapid growth and my objective is to steer the company’s technology in a direction that can support such a high growth market.

“By improving ClearBalance’s technology stack, we will look to offer new services to existing clients while increasing our ability to scale the current infrastructure to meet growth demands.  We will also continue to focus on services that improve the patient experience,” he explained.

A graduate of the University of Texas at Austin, Webster is based in the company’s corporate headquarters in San Diego.

About ClearBalance

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.

In fact, a report recently released by Towers Watson finds that employees’ share of premiums increased 8.7 percent between 2012 and 2013. Moreover, out-of-pocket expenses continue to rise — up by 15 percent over the last two years.

Vince Koch, ClearBalance vice president—regional sales manager, will address the Connecticut Chapter of AAHAM during its Spring Conference this Friday, April 26, offering best practices from top-tier health systems aimed at increasing net recovery from patient-pay accounts receivable, streamlining point-of-service collection efforts and improving patient satisfaction scores.

“Healthcare executives have been shifting their focus to point-of-service collections,” Koch said. “By leveraging the right technology and offering multiple payment options, health systems can collect more from patients while improving patient satisfaction — a true ‘win-win’ outcome.”

About ClearBalance

ClearBalance is the premier provider of patient-friendly loan programs. 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.

The ClearBalance patient-friendly loan program is currently available at several New York–based healthcare providers, including St. Joseph Hospital Health Center in Syracuse, Faxton St. Luke’s Healthcare in Utica and Glens Falls Hospital in Glens Falls.

Vince Koch, ClearBalance vice president—regional sales manager, will be available throughout the conference to review how ClearBalance helps its New York healthcare clients streamline their revenue cycle and significantly improve the patient experience.  The ClearBalance program accomplishes these benefits by providing interest-free loans to patients, enabling them to easily pay their healthcare bills with affordable monthly payments.

“We’re eager to meet with other New York health systems to demonstrate how ClearBalance significantly enhances two important items: self-pay collections and patient satisfaction,” said Mitch Patridge, ClearBalance chief executive officer (CEO).

About ClearBalance

ClearBalance is the premier provider of patient-friendly loan programs. 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.

Bolstered by the addition of several new, multihospital clients — including more than 67 hospitals and/or clinics located in Kansas, California, Minnesota, Ohio, North Carolina, South Carolina, New York and Florida — the ClearBalance patient-friendly loan program is now offered at more than 250 locations nationwide.

Growth in the company’s portfolio of patient accounts has resulted, in part, by the rapidly increasing population of consumers covered by high-deductible health plans.  ClearBalance’s expanding portfolio was led by the growth of its popular Zero-Interest Flex Program — in which patients receive an interest-free, revolving line, with repayment periods that can extend beyond 72 months.

According to Mitch Patridge, ClearBalance chief executive officer, the company’s 2012 performance marked the strongest growth of its portfolio of patient accounts in its more than 20-year history.

Patridge said that a recent Kaiser Family Foundation survey found that a “larger proportion of workers are required to meet a deductible prior to utilizing services, and these deductibles are increasing in size. It has become commonplace for covered workers to be enrolled in a plan with a deductible of $1,000 or more.”

“The Kaiser survey is one of a number of new studies that heightens the urgency among healthcare providers to look for a self-pay solution that can be customized to meet the unique characteristics of their revenue cycle,” Patridge said, adding that the company’s expanded lineup of ClearBalance patient-friendly loan products meets the challenge of not only increasing net recovery, but also improving patient satisfaction.

He also explained the company is well positioned to further capitalize on market demand through the recently announced investment in ClearBalance by the private equity group of Angelo, Gordon & Co.

“The financial backing of Angelo, Gordon will enable ClearBalance to continue to invest in systems and servicing capabilities ensuring the highest level of service to our patients, healthcare providers and banking partners,” Patridge stated.

About ClearBalance

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.

SAN DIEGO, Jan. 28, 2013 — ClearBalance^®, the healthcare industry’s leader in providing patient-friendly bank loans, will spotlight its innovative, cost-effective solution to the challenges facing healthcare providers and patients posed by high-deductible health plans during the 2013 HFMA Region 11 Conference from Jan. 27–30 in Las Vegas.

In a recent study by Towers Watson, out-of-pocket expenses climbed in 2012 from 16% to 18%, making it more difficult for consumers to incorporate healthcare costs into their family budget. Increasing patient responsibility for healthcare costs also is partly responsible for the overall growth of uncompensated care, which the American Hospital Association (AHA) estimates at more than $41 billion during 2011, according to AHA’s new study released earlier this month.

During the HFMA Region 11 Conference, ClearBalance executives will offer healthcare providers an opportunity to learn how the company’s popular Zero-Interest Flex Program increases net recovery of self-pay and balance-after-insurance accounts by 30 to 50 percent.

Using its proprietary ClearCalc data analysis system, healthcare providers will also have the ability to clearly understand the immediate return on investment generated by ClearBalance, typically between 80 and 200 percent, while helping improve the patient experience.

“Our ability to offer patients an interest-free, revolving line of credit with repayment periods that can extend beyond 72 months affords a true ‘win-win’ solution for providers and patients,” said ClearBalance CEO Mitch Patridge. “Now, through ClearCalc, we can analyze — free of charge — a provider’s self-pay accounts and deliver concrete financial metrics that demonstrate how the ClearBalance program pays for itself in the first year.”

About ClearBalance

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.

ClearBalance was founded in 1992 and held by its current ownership group since 2003. The San Diego-based company has funded more than $500 million in patient loans, and services more than 250 healthcare providers nationwide with more than 1.8 million patient accounts. Hospitals and other healthcare providers partner with ClearBalance to offer an interest-free, revolving line to all patients regardless of credit score to help them cover out-of-pocket medical costs. The funding from Angelo Gordon will be used to help continue the company’s growth by expanding its current relationships and introducing its services to more healthcare organizations.

“This investment from Angelo Gordon is a strong affirmation of the growing importance that ClearBalance’s patient-friendly loan program has within the healthcare industry,” said Mitch Patridge, Chief Executive Officer of ClearBalance. “There is a growing need for patient friendly loan programs that are easy-to-manage, both from a consumer and healthcare organization perspective. With the trend in healthcare going toward more high deductible health plans, our interest-free loan program – in which repayment periods can extend up to 72 months and no written application is required – is becoming more attractive to patients. For hospitals and other healthcare providers, our services are seen as a way for them to increase net recovery rates and reduce their cost of collections while, most importantly, improving patient satisfaction.”

Art Peponis, Co-Head of Private Equity at Angelo Gordon, said, “We’re pleased to partner with the management of ClearBalance on this deal. ClearBalance is the leader in its field and receives high praise from both healthcare organizations and patients for its strong level of customer service, the quality of its products and overall patient satisfaction. We’re excited to help the company continue to grow in the healthcare space by leveraging our financial services expertise.”

Angelo Gordon’s Private Equity Group makes equity investments ranging from $25 million to $125 million. Sector focus includes financial services, consumer/retail, healthcare, and business services.

Madison Capital Funding LLC provided financing for the transaction and Akin Gump Strauss Hauer & Feld LLP acted as legal advisor to Angelo Gordon.  Raymond James acted as the financial advisor and Jones Day LLP acted as legal advisor to ClearBalance.

About Angelo, Gordon & Co.

Angelo, Gordon & Co., L.P. is a privately held limited partnership founded in November 1988, and currently manages approximately $25 billion. The Firm’s investment focus centers around three core competencies – credit, real estate, and private equity – and manages capital across five principal areas: (i) private equity, (ii) real estate equity and debt and net lease, (iii) residential and commercial mortgage-backed and asset-backed securities, (iv) distressed debt and leveraged loans, and (v) multi-strategy. Angelo, Gordon has over 260 employees (100 of whom are investment professionals) and is headquartered in New York, with associated offices in Chicago, Los Angeles, Washington D.C., London, Amsterdam, Hong Kong, Seoul, Shanghai, Tokyo, and Sydney. For more information, visit www.angelogordon.com.

About ClearBalance

ClearBalance is the premier provider of patient 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

• Annualized growth rate of 38 percent
• Secured contracts with six new clients representing 29 locations
• Loan originations increased 16 percent over third quarter 2011

SAN DIEG0, Oct. 16, 2012 — CSI Financial Services (CSI), the healthcare industry’s leader in providing patient-friendly bank loans marketed under the ClearBalance^® brand, announced today that during the third quarter of 2012 the company’s portfolio of patient accounts had grown at an annualized rate of more than 38 percent.

CSI’s third quarter results were strengthened by the addition of six new clients — including 29 new hospitals and/or clinics — located in Kansas, South Carolina, New York and Florida. Overall the roster of healthcare providers that offer the ClearBalance program now totals more than 250 locations nationwide. The company also saw loan growth with existing hospital and clinic clients due in part to increased adoption of high-deductible insurance plans.

According to Mitch Patridge, CSI’s chief executive officer, the ClearBalance Zero-Interest Flex Program — in which patients receive an interest-free, revolving line, with repayment periods that can extend beyond 72 months — has been a key driver in the company not only exceeding expectations for the third quarter, but also looking to a strong fourth quarter as it prepares to add new health systems in the South, Northeast and Midwest.

“Since CSI first introduced the ClearBalance Zero-Interest Flex Program nearly a decade ago, we have provided flexible payment terms to tens of thousands of patients, helping them meet their out-of-pocket healthcare expenses,” Patridge said.

“As more patients become responsible for a greater portion of their healthcare expenses, health systems, hospitals and physician clinics are determined to implement a payment alternative that gives each and every patient — regardless of credit score — the opportunity to easily qualify for an affordable payment option.”

ClearBalance Integrated into Leading Patient Estimation and eCashiering Tools

Patridge noted that during the third quarter, the company successfully integrated with several new patient estimation and eCashiering tools — making it even easier for healthcare staff to offer their patients a ClearBalance patient-friendly loan earlier in the revenue cycle.

“Healthcare providers are looking to offer patients a ClearBalance loan during the registration process to relieve patient anxiety related to how they will pay for their out-of-pocket balance after services are rendered,” Patridge said.

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 resolve patient balances. Equally important, the ClearBalance loan program helps healthcare providers achieve their 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.

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