CarePayment Hits 4 Million Member Milestone

NASHVILLE, Tenn., June 18, 2019 /PRNewswire/ -- CarePayment, a leading patient financing company that partners with healthcare organizations to offer 0.00% APR payment programs to patients, announced today it has reached more than 4 million patients served, up from 2.2 million just 2 years ago, and achieved 37% year over year growth in 2018 alone.

CarePayment expanded its portfolio of provider contracts by 25% in 2018. Included in the list of new partners are several $1billion net patient revenue health systems, including two new large academic medical centers. CarePayment has also expanded its relationship with several existing customers, including three of the largest for-profit health systems in the country. CarePayment now partners with over 230 hospitals and health systems and the program is offered in more than 900 locations across the United States.

"The impact of rising out of pocket healthcare costs is hitting a tipping point for providers who are now more than ever seeking solutions that drive increased cash and reduce debt, but do not jeopardize the relationship they have with their communities and patients. By offering patients a 0.00% APR solution that requires no application and has no impact to credit score, our provider partners are able to meet and exceed their financial goals while achieving their most important mission which is to increase the health and wellness of the people they serve. CarePayment continues to be privileged to work with healthcare organizations that recognize first-class clinical care can only be achieved if patients feel confident they can manage their medical expenses and are not saddled with the additional weight and worry that high interest patient financing options bring," said Craig Hodges, CEO of CarePayment.

In addition to continued strong growth in the hospital and health system market in 2018, the company has invested in new market expansion by hiring additional sales and business development personnel, including seasoned Nashville healthcare executive, Wes Pass. Wes is now leading the company's charge into non-hospital markets after serving 10 years with Bank of America Merrill Lynch's National for-profit healthcare group in Nashville.

About CarePayment 
CarePayment is a patient financing company that accelerates a healthcare providers' transition to the new consumer-driven healthcare market. Powered by advanced technology and analytics, our innovative patient financing solutions improve patient satisfaction and loyalty while delivering superior financial results. By partnering with healthcare providers to make affordable financial options available, CarePayment helps patients get the care they need, when they need it, while protecting the financial health of provider organizations so they can continue to offer valuable care to the community. CarePayment's patient-friendly financing is compliant with applicable state and federal consumer credit laws, requires no application, and is supported by a friendly US-based customer service staff. Accounts for the program are issued by Republic Bank & Trust Company, Member FDIC. Find more information at www.carepayment.com.

SOURCE CarePayment

Related Links

http://www.carepayment.com