Four U.S. health systems have been recognized for patient financing performance by hospital patient loan provider ClearBalance.
The top ClearBalance Patient Financing Performance Award winners for 2018 are Edison, N.J.-based Hackensack Meridian Health; Winston-Salem, N.C.-based Novant Health; Richmond-based Virginia Commonwealth University Health; and St. Joseph, Mo.-based Mosaic Life Care.
The awards are based on ClearBalance's return on investment value model, a calculator that helps health systems determine patient loan program performance in terms of payment collections received vs. the cost of collecting payments, according to ClearBalance.
Hackensack Meridian Health, which uses the ClearBalance program at eight facilities, won an ROI Top Performer Award for the second consecutive year with 495 percent ROI. Novant Health received top honors for the greatest reduction of bad debt, and VCU Health saw first-year ROI performance of 338 percent. Mosaic Life Care achieved the greatest effect to patient experience through ClearBalance's patient financing program.
ClearBalance also recognized Harrisburg, Pa.-based UPMC Pinnacle, DuBois, Pa.-based Penn Highlands Healthcare, and Orlando (Fla.) Health for their patient financing performance.
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