CarePayment Program Introduced at 20 Facilities in First Half 2012

Demand for patient receivable solutions fueling CarePayment staffing, services expansion

PORTLAND, Ore. – (September 17, 2012) – Healthcare providers facing a growing burden of patient receivables are turning to CarePayment®, an innovative loyalty program that improves financial results and boosts patient satisfaction.

Offered by patient financing leader CarePayment Technologies, Inc., the CarePayment Program added 20 new facilities in the first half of 2012, through five clients in three states. Meanwhile, the program will be expanded to include innovative enhancements to its engagement platform, including flexible payment terms of up to 72 months to help patients meet rising healthcare out-of-pocket expenses.

The expansion is being driven by new leadership in Craig Froude as President and CEO, and A. Todd Van Meter as Senior Vice President, who were appointed earlier this year to foster growth and provide leadership in the creation of innovative financial solutions for patients and providers. Both come to CarePayment with extensive experience in shaping and implementing successful growth strategies for organizations in the healthcare sector.

“An increasing number of healthcare organizations are eager for new ways to strengthen relationships with patients without negatively impacting financial performance,” said Froude. “Our overall growth and recent expansion into Georgia, Texas and New Jersey are the result of helping healthcare providers improve the patient experience to garner greater market share and increase revenue.” The healthcare providers that CarePayment serves include large health systems, stand-alone acute care hospitals and independent physician practices.

The CarePayment growth strategy is also focused on continually enhancing its provider-branded patient payment program. “Patients and providers have asked for more flexibility with the program, and we are responding with innovations to bring patients financial relief and increase their loyalty to the provider for future healthcare needs,” said Van Meter. The latest enhancement gives hospitals the ability to offer patients more options in meeting significant medical costs. It expands the CarePayment 25-month payment plan to include terms of 36, 48, 60 and 72 months, all with a 0% APR and a non-discriminatory approval process.

For healthcare providers, the CarePayment Program offers the confidence that they are complying with applicable federal and state laws as they face greater consumer finance regulatory scrutiny.