In this episode, we are joined by Laura Nadler, Director of Sales Enablement at Healthcare Finance Direct, to discuss how shifting beyond a patient's credit score for financing can empower healthcare treatment coordinators. Tune in to learn how many people are left unapproved for healthcare treatments due to a poor credit score on a yearly basis, and how deviating from the traditional patient financial approval process can positively affect practice flow. Hear insights on how providers can grow their practices when offering HFD as a financial option to their patients. This episode is sponsored by Healthcare Finance Direct.
Summary
Shifting Beyond a Patient’s Credit Score for Healthcare Financing
In this episode, Laura Nadler, Director of Sales Enablement at Healthcare Finance Direct, discusses how deviating from the traditional patient financial approval process can empower healthcare treatment coordinators. By shifting beyond a patient’s credit score and offering HFD as a financial option, providers can ultimately grow their practices.
The Problem with Credit Scores in Healthcare Financing
Laura Nadler highlights the issue that 50% of patients who apply for healthcare financing don’t get approved due to a poor credit score. This creates a tremendous frustration for both patients and providers, as it limits the amount of care that can be offered.
The Benefits of Offering HFD as a Financial Option
However, Laura suggests that by offering HFD as a financial option, providers can more confidently present treatments and look at their production and forecasting in a more confident way. HFD allows for a deviated financial approval process that takes into consideration more than just a patient’s credit score, enabling more patients to receive the care they need.
Growing Your Practice with HFD
By offering HFD as a financial option, providers have the opportunity to grow their practices. Patients who may have previously been denied care due to their credit score are now able to receive treatment, resulting in increased patient loyalty and satisfaction. Additionally, partnering with HFD can lead to increased referrals and more revenue for the practice.
Sponsored by Healthcare Finance Direct
This episode is sponsored by Healthcare Finance Direct, a company dedicated to providing financing solutions for healthcare providers and their patients.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 10/07/2022 and can be listened here.
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