HELP Financial’s Patient Financing Solutions
HELP Financial's Patient Financing Solutions are made up of three key components – Credit Line, In-House Plan Funding, Pre-Service – to provide a front to back revenue cycle patient payment solution.
View the Key Findings Report for a summary of HELP Financial’s Patient Financing Solutions performance.
100% of HFMA reviewers agree that:
- The service satisfies a need in the healthcare industry.
- The service is easy to use.
96% of HFMA reviewers agree that:
- The service represents good value for the cost
HELP Components
HELP Credit Line
Our fully funded, customized recourse loan program allows our provider partners to offer a guaranteed line of credit to virtually any patient that has an out-of-pocket responsibility. With a consumer-focused approach, the provider can offer up to a 60-month term with 0% APR, to find the most affordable option for each patient financial situation. The HELP Credit Line is a revolving credit agreement, enabling simple add-ons of additional balances at any time. The program also provides the ability to combine family or household, accounts into a single monthly statement and payment. The HELP Credit Line program empowers patients/guarantors to be directly involved in their payment choice decision from the very first financial conversation.
Provider Advantages:
- Ability to offer 0.0% APR patient financing with terms up to 60 months
- Up-front funding
- Enhanced patient financial experience
- Prioritized patient payments
- Simple workflows, extension of current practices
- Decreased self-pay AR days and AR over 90
- Reduced bad debt
- Added net patient revenue
- Minimized cost to collect
- Increased cash on hand
- Partnership with HELP that includes 30+ years of exclusive, patient financing expertise
Patient Advantages
- Simple enrollment process
- Empowered to choose a monthly payment that works for their specific needs
- Easy to add additional/future bills
- Ability to combine household bills into one monthly statement
- Relieved patient financial burden for continue healthcare services
- 24/7 access to HELP’s full-service, online Self-HELP portal for account management
HELP In-House Funding Plan
This option is a one-time conversion that generates an immediate influx of cash by moving the management of current in-house payment plan accounts, or outstanding patient responsibility balances, to HELP. The HELP In-House Funding Plan has had increasing appeal over the past five years that make sense both financially and operationally for facility’s moving EMRs or re-thinking your facility’s current payment policy. It gives the provider the ability to honor existing payment arrangements, but also the opportunity to get a “clean slate” on their internal payment plan AR, out of the business of banking and establish an affordable monthly payment option through the HELP Credit Line option.
Provider Advantages:
- Immediate cash influx
- Eliminated internal payment plan management
- “Clean slate” opportunity for conversion of legacy accounts, or new payment policy
- Easy transition into the HELP Credit Line program for long-term success
Patient Advantages
- No enrollment process
- Interest-free for remainder of term
- 24/7 access to HELP’s full-service, online Self-HELP portal for account management
HELP Pre-Service
The front-end component of the HELP Credit Line is the HELP Pre-Service option. Using an estimated balance, patients agree to enroll in the HELP Credit Line prior to services. The HELP Pre-Service option bypasses the need for a provider generated statement, speeding up the entire process for funding. Patients are given peace of mind, knowing they have an affordable monthly payment secured prior to service.
Provider Advantages:
- Increased collectability
- Enhanced patient satisfaction
- Minimized back-end collection effort
- Decreased procedure cancellations, or “no-shows”
- Added opportunity for elective procedures
- Shoppable patient financing option
- Peace of mind that a payment plan is established prior to services
Patient Advantages
- Simple enrollment process
- Understanding of payment options prior to service
- Incentive to not put off healthcare needs
