Turn Crisis into Cash

94% of healthcare providers were impacted by the Change Healthcare cyberattack. We're here to help. Enhance cash flow and bolster balance sheet liquidity with CarePayment's patient financial engagement solutions.

Elevate Your Strategy Today

Turn Crisis into Cash

Elevate Your Strategy Today

Aged AR and Payment Plan Conversion Solutions

By transferring aged AR and internal payment plans to CarePayment, providers can achieve a remarkable gross collection rate of 85-90%, leading to a substantial increase in overall earned revenue collection.

Increase Your Operating Margin, Guaranteed

Converting aged AR and payment plans to CarePayment improves balance sheet liquidity by reducing AR.

Get Immediate Cash Flow Expansion

CarePayment can convert aged receivables and payment plans into liquid assets in under 30 days, getting you the cash you need now.

24/7 Security and Compliance

We adhere to all local, state, and federal laws, and have HITRUST r2, SOC 2 Type II, and PCI Compliance certifications.

Financial Revitalization in Action: Payment Plan Conversion with CarePayment

This 8-hospital, $2+ billion net patient revenue health system managed payment plans internally as active accounts receivable (AR), but looked to CarePayment to expedite their conversion into cash flow within a 60-day timeframe from contracting to ensure financial stability.

THE RESULTS: Immediate Cash, Relief for Staff, and Boosted Patient Satisfaction

87.9%

Gross collection rate on enrolled accounts (regardless of propensity to pay)

91%

Program satisfaction rate

Less than 7

IT hours needed to implement

Accounts

Loaded and funded immediately

Leveraged existing EHR integration, files and scripts to reduce IT involvement

Dedicated customer support with Epic access to assist provider staff and ensure patient satisfaction

health system discussing revenue cycle improvement in corporate meeting

Post-Cyberattack Recovery, Converting Aged A/R to Payment Plans Will Drive Cash

The cyberattack sent shockwaves through the healthcare sector, leaving hospitals grappling with financial repercussions. Discover how hospitals are using innovative strategies, from aged A/R solutions to patient financing programs, to reclaim financial stability.

University of Michigan Health-West

"I would absolutely recommend CarePayment. They’ve been a wonderful partner. It’s been a wonderful benefit to our patients. They get to take responsibility for their payments, [and] they get to do it over an extended period of time, so it’s not such a drain on their household finances, yet they still get the dignity of knowing that they’re involved in the care and that they’re paying the bills that they need to."

Day Kimball Healthcare

"The CarePayment program presents our patients with a sigh of relief. It’s really difficult to know how you’re going to meet a financial obligation, particularly a healthcare bill when often you don’t anticipate it. This gives them the ability to have plenty of time to meet that obligation without the added stress or worry."

University of Michigan Health-West

"They [CarePayment] allow us to do what we do best, which is take care of our patients, so the patient doesn’t have to worry about their bills. Patients are more likely to come in to get the care they need when they don’t have to pay upfront. Many of our patients will request that their charges go directly to CarePayment, so they know they can make that minimum monthly payment over a two-year period."