Extended Payment Plan Options to Patient Payment Portals
Salucro, the cloud-based patient payment platform for providers and hospitals, will now offer Parasail’s 0% interest non-recourse and other payment plan options to patients.
Salucro, the cloud-based payment platform that has become the leading payment solution for many of the health care industry’s hospitals and provider groups, has announced that it will now offer Parasail’s payment plans through its new patient financing portal for select customers. Parasail Health is a San Francisco health-finance startup that has launched a series of tech-based products that help patients pay for their out of pocket medical expenses affordably.
In recent years, patient responsibility for medical bills has grown steadily as more people have moved to high-deductible health plans. According to the CDC, 39% of people with employer-provided health care are now in a high-deductible plan. A recent poll by HuffPost/YouGov revealed that health care costs are now Americans top concern – out-ranking every other issue including immigration and terrorism. For providers, the shift in responsibility from payers to patients has come with a host of problems; a 2017 Crowe Horwath study found that hospitals on average collect only about 15% of what they bill patients.
“Patients and providers both need a better solution,” says Clayton Bain, Salucro’s CEO. “Allowing patients to choose how they want to pay their medical bills, just like they do with other products and services they buy, is how Salucro has helped providers and hospitals collect more. By adding Parasail, patients can now choose to spread their bills out over time as easily as choosing a pay-over-time plan for a phone or a car.”
The partnership will allow patients to select one of Parasail’s payment plan products, allowing patients access to financing options, as well as over 12 additional payment options offered through Salucro’s payment platform. Some products, such as Parasail Select (a loan search engine) are interest-bearing products suitable for elective procedures, while other plans provide full-term 0% interest payment options to patients for non-elective medical bills. Some providers even offer no-collection payment plans through Parasail for patients with certain diagnoses.
“Partnering with Salucro is great for everyone,” says Adam Tibbs, CEO of Parasail Health. “Salucro already makes it easy for patients to pay their bills – and now patients will also get the option to pay over time… which means providers will ultimately collect more.”
About Parasail Health
Parasail Health is helping doctors and patients focus on treatment instead of worrying about payment by creating a patient user interface for the healthcare system to plan, manage and pay for medical expenses. Focusing first on helping people afford their care, Parasail provides free estimators, simple application and approval processes, and a proprietary underwriting model that instantly measures each patients ability to pay, which is used to create zero percent interest payment plans customized to each patient – with immediate, non-recourse payment to each provider or hospital. Electives patients are empowered to avoid high interest credit card debt by using the free Parasail Select search engine to get fixed-rate financing offers from all of the top online lenders with a single application. Parasail’s mission is to humanize the health care system by putting the needs of doctors and patients first. It’s time to focus on what matters. http://www.Parasail.com
About Salucro Healthcare Solutions
Salucro has created a cloud-based platform that provides revenue cycle management tools that help increase patient payments and provide advanced real-time reports with proven ROI results. Salucro’s payment processing platform is PCI DSS Level 1 validated and meets HIPAA compliance requirements. Salucro also offers a P2PE solution that protects the card holder data from the point of interaction to the payment processor/gateway, making Salucro one of the most secure solutions available today. To learn more visit http://www.salucro.com.