Emory Healthcare and CarePayment Offer Affordable Payment Plans to Patients

ATLANTA, GA and PORTLAND, OR (November 24, 2014) – Emory Healthcare is partnering with CarePayment, a national patient financing firm, to offer a flexible payment program for patients, many of whom are faced with rising deductibles and out-of-pocket expenses. With six hospitals, 200 provider locations and 1,800 providers, Emory Healthcare treats more than 1.2 million patients each year.

The CarePayment program features 0.00% APR for the life of the account. A $15 annual membership fee applies every year there is a balance. CarePayment does not require an application or credit check and thus does not affect credit scores.

“We were determined to find the most patient-friendly option to assist patients,” says Taylor Williams, director of Patient Financial Services for Emory Clinic. “In the middle of a health care crisis or recovering from an illness, concern over how to fund health care can be challenging for patients and their family. Using this option allows us to alleviate that stress for our patients by providing a way to better manage the payment process.”

More than one out of every four families, or 26.8 percent, struggled to pay for medical care in 2012, according to the Centers for Disease Control’s National Center for Health Statistics. And nearly two-thirds, or 64 percent, of people don’t have $1,000 to cover an emergency expense, according to a poll by the National Foundation for Credit Counseling.

“A longtime national leader in medicine, Emory Healthcare also is at the forefront of patient financial engagement,” says Craig Hodges, CEO of CarePayment. “Studies show that patient satisfaction with their provider is heavily influenced by their experience during the billing process.  With CarePayment, Emory is making patient-friendly financial interactions a priority.”

The CarePayment program is helping Emory Healthcare expand its pioneering efforts to address the rise of consumerism among patients, who are demanding more information about healthcare prices. Emory is one of the first health care systems of its size nationally to provide sophisticated cost estimates for patients that factor in their specific health insurance coverage since costs under the same plan can vary from provider to provider. Rather than waiting until a patient misses a payment, Emory also provides patients with financial counselors upfront, at scheduling and registration, to discuss options such as financial assistance, and now, CarePayment.

“We’ve seen a tremendous increase in recent years of patients calling to ask prices –basically shopping for care,” says James Perry, system director of Revenue Cycle Operations for Emory Hospitals. “We don’t want price to be the reason anyone forgoes necessary care. This option gives us another important program to help make care affordable and serve our communities.”

For greater patient convenience, CarePayment can combine charges into one account with one monthly payment. Patients can also add additional approved charges as long as their account is in good standing. CarePayment also offers a variety of ways to manage accounts, including automatic payments, mobile and online account access, and paper or electronic statements.

For more information on Emory’s financial assistance program, visit http://www.emoryhealthcare.org/patient-guide/billing/charity-care-policy.html.