VisitPay, the leader in patient financial engagement, has entered into an exclusive agreement with JPMorgan Chase Bank, N.A. in connection with the bank’s plan to extend recourse financing to VisitPay’s new Balance Transfer program, which will provide wholesale funding to healthcare providers.
Editor's Note: This article originally appeared on VisitPay's website.
With the launch of the Balance Transfer program, VisitPay now offers providers a fully automated and economically sustainable approach to financing patient receivables. The program minimizes days accounts receivable and improves liquidity metrics, while seamlessly maintaining VisitPay’s provider-branded online experience for patients.
“Managing long-term patient debt is not a core competence for most providers,” said Kent Ivanoff, VisitPay CEO and Co-Founder. “It distracts them from fulfilling their core mission of delivering outstanding patient outcomes. The proposed financing will allow providers to augment the unmatched billing experience created by VisitPay with a fully automated, low-cost financing solution.”
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