iVita Financial, a provider of patient payment solutions, is offering patients a loan program that will allow them to pay in advance for treatment.
The Atlanta-based solution provider said through its loan program, patients can meet out-of-pocket requirements upfront, which will allow hospitals to generate revenue quicker and shrink net patient revenue leakage.
"Our unique financing program is a natural extension of the hospital's pre- or point-of-service financial options and gives both patients and providers an innovative, risk-free alternative to the ever-increasing need to meet financial obligations," said Kim Anderson, CEO of iVita Financial. He added analytical models "promote upfront collections where the financial burden is lifted from the patient and provider revenues are increased."
iVita Financial said its program will decrease hospitals' bad debt by ensuring a patient's out-of-pocket cost is met.
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