SimpleSelect Patient Finance will begin testing a finance program aimed at helping patients afford out-of-pocket medical costs and rising insurance premiums.
SimpleSelect has put together a program where participating practice's patients can securely apply online for a closed-end, fixed-rate loan to cover their portion of medical expenses. The company hopes practices will use the program to offer patients a safe and convenient finance option.
"Our focus has always been on financing elective medical procedures not covered by insurance, but that started to change last year," said SimpleSelect CEO Daniel O'Connor. "We had a number of medical practices asking us if we had a program for financing deductibles so we began exploring the idea."