15 Health Systems Use Patient Financing to Reduce Patient Bad Debt, Increase Cash on Hand

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Oct 04, 2022, 09:32 ET

SAN DIEGO, Oct. 4, 2022 /PRNewswire/ -- ClearBalance HealthCare^® recently announced its annual Top Performer awards to recognize health systems that excel at creating a positive patient financial experience. At the same time, these health systems are dramatically reducing patient bad debt and days in AR to improve cash on hand. ClearBalance has honored Top Performers since 2016 as part of its HFMA Peer Reviewed ROI Value Model™. The 15 winners were judged on financial performance and patient experience data for 2021. They represent a nationwide mix of large, multistate health systems with net patient revenue of more than $5 billion down to single healthcare facilities with net patient revenue of $90 million.

Winners of ClearBalance HealthCare Top Performer awards participate in virtual recognition ceremony

In all, ClearBalance has honored 25 unique health systems as Top Performers since 2016. This year's winners include veterans and newcomers. The high number of repeat winners speaks to the value of the ClearBalance patient financing program to drive performance improvement year-after-year:

One health system has been among the Top Performers for six of the seven years of the program's existence
Another health system has been a winner five times
Nine customers have achieved Top Performer status two or more years

View the Zoomcast to see the virtual awards ceremony.

About ClearBalance HealthCare

ClearBalance HealthCare partners with health systems nationwide to provide consumer-centric patient financing. Its data-driven approach delivers higher patient adoption and greater patient repayment, which substantially improves health system revenue recovery: lower bad debt and higher cash flow. ClearBalance is Best in KLAS for patient financing solutions and is HITRUST CSF Certified for regulatory and industry-defined security standards. Patients give ClearBalance loyalty and referral ratings of 91% and 88%, respectively. The ClearBalance ROI Value Model has achieved HFMA Peer Review since 2015. Patients consistently give ClearBalance loyalty and referral ratings of 91 percent and 88 percent, respectively. ClearBalance.org.