Optum now provides financing for healthcare organization customers who need advanced funds.
Optum Pay Advance provides a loan from Optum Bank to healthcare providers who have been Optum Pay customers for at least two years. The loan is provided with one fixed fee and the company adds repayment automatically as a percentage of the organization's future Optum Pay payments, according to the company's website.
Physician practices and organizations can apply for the loan and receive funding within a few business days if the application is accepted. Recipients cannot have an outstanding balance from prior Optum Financial loans, and the company can add eligibility criteria "as necessary," according to the website.
Last year, Optum Pay moved $300 billion in claims payments and had more than 2 million healthcare professional customers.