Who is MedPay?
MedPay was established with a simple mission: Create and offer a financial product that would positively transform today’s medical industry for providers and patients. To accomplish this objective the product and company supporting it must service and benefit both the provider and patient sides of the equation using cutting edge technology combined with first-class, personalized client service and support. Through our financing platform, MedPay is able to effectively and efficiently impact the quality of millions of lives as well as improve the financial performance and operational efficiency of a wide variety of healthcare businesses and providers.
How does MedPay assist Providers?
For providers, hospitals, healthcare networks and specialized medical merchants we have developed programs to deliver increased patient volume, conversion and satisfaction with first-class, personalized provider/patient service and support. This is accomplished through improved cash flow & revenue cycle management, reduced collection costs and write-downs/write off. Also, the opportunity to re-deploy existing staff and resources to improve patient services and satisfaction, versus wasting valuable staff and resources chasing receivables and bad debt.
How does MedPay assist Patients?
For Patients, we offer flexible financing programs which allow them to receive both medically and non-medically necessary procedures and treatments, on their own terms even if their health insurance deductibles and co-pay requirements are outside their personal budgets. Today, tens of millions of American citizens delay or decline medically beneficial or necessary procedures and treatments. We offer 0% interest payment plans which are effectively tailored to be financially manageable with virtually any budget. Those who qualify may even be able to take advantage of utilizing tax free money through their existing FSA or HSA accounts, something no other financing platform offers today!
Can a patient sign up without a participating provider?
Sorry no, your provider must be participating in the program before you can apply.
Is this a recourse program?
No, account will only be returned to the provider when mutually agreed upon.
What payment options does the patient have?
We offer repayment terms between 3-15 months at zero interest.
What type of assurances does the provider have that the patient will be treated with respect?
MedPay customer service agents have an average on 8+ years of experience, are recorded and provided with regular feedback.
As a provider, will we be given marketing materials and staff training?
Absolutely, all marketing collateral will be provided at no cost to the provider. And training is the key to patient engagement so the provider can expect not only on-site training but on going video and webinar training.
What type of correspondence should our patients expect?
All patients will be a part of a very thorough workflow process that will include letters and calls to ensure that your patients stay in good standing and fulfill their obligation.