Here are four takeaways:
1. The integration comes after Bankers Healthcare Group acquired a 20 percent stake in Simple Admit. The patient financing program, BHG Patient Lending, gives patients an alternative way to pay for healthcare services.
2. Healthcare facilities receive 100 percent funding when a patient uses BHG Patient Lending. All patients can qualify and choose payment terms suited to their budget.
3. Simple Pay calculates patients’ out-of-pocket expenses before services are rendered and collects payments directly through the platform.
4. BHG Patient Lending receives funding through its network of more than 900 U.S. community banks and Pinnacle Bank’s 49 percent stake in the company.
“Consumers are dealing with higher out-of-pocket costs and facilities are spending valuable time collecting on payments. In addition, surgery centers risk appointment cancellations because patients are concerned about paying for their procedures. BHG Patient Lending addresses all of these issues, and offering it through Simple Admit’s platform creates a truly integrated solution,” said BHG Patient Lending CEO Tyler Crawford.
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