New Patient Financing Company Provides Access to Innovative Program for Ambulatory Surgery Centers
ASC industry leaders partner with Health Credit Services to make surgical procedures more accessible
Surgical Funds (www.surgicalfunds.com), a company formed to offer access to responsible, flexible patient financing solutions for ambulatory surgery centers (ASCs), has launched and is helping ASCs provide healthcare consumers access to financing for high-quality surgical procedures. Created by trusted, veteran leaders in the ASC industry, Surgical Funds provides surgery centers with a best-in-class option for patients to cover their out-of-pocket expenses.
With the surge of high-deductible health plans (HDHPs) and increasing co-pays, patients are bearing a greater share of the rising costs of healthcare. HDHPs — plans with a deductible of at least $1,350 for an individual or $2,700 for a family — accounted for 43% of private health plans for people under 65 in 2017 (1). The average annual deductible for individual plans exceeded $5,700 in 2017 (2). Prices are expected to continue rising.
Many patients struggle to pay for surgical expenses not covered by insurance. Through a partnership with patient financing company Health Credit Services (HCS), Surgical Funds now offers ASCs and their patients access to HCS financing solutions. Enrolled surgery centers receive HCS system training and support from Surgical Funds. Upon completion of training, surgery centers can submit patient loan applications. If approved, applicants select an HCS loan package that fits their budget, and the HCS team administers the patient loan moving forward. HCS funds the ASC within 48 hours of the procedure date.
Surgical Funds is founded by ASC executives with extensive experience in the healthcare, including Randy Bishop, ASC industry leader and Chief Operating Officer of Surgical Notes.
"One of the biggest obstacles to patients undergoing a surgical procedure is concern about their ability to pay for care," Bishop says. "Meanwhile, ASCs are shouldering more of the burden to collect what they are owed because of rising patient responsibilities. Surgical Funds is designed to address both challenges. The program makes it easier for patients to undergo the surgeries they need for improved quality of life and enables ASCs to secure appropriate payment for providing these procedures. This allows surgery centers to focus more on what matters most: growing their business while delivering high-quality, low-cost care."
To learn more about Surgical Funds and take the first step toward providing your patients with the financing solutions they need, visit surgicalfunds.com.
About Surgical Funds
Surgical Funds facilitates patient financing solutions to supplement out-of-pocket expenses for ambulatory surgical center procedures. In partnership with the nation's premier funding corporations, we are able to offer access to responsible, expedited financing alternatives to our healthcare clients. Decades of experience in the healthcare and financial services industries uniquely qualifies Surgical Funds to develop focused, customized programs that meet the daily challenges faced in today's healthcare environment.
About Health Credit Services
Health Credit Services (HCS) is on a mission to increase access to healthcare. At HCS, we recognize and empathize with the financial barriers to care that routinely impact providers and patients. The challenges of today impassion us to invest smart, simple financing solutions, while delivering a seamless customer experience. From practices delivering more care to patients successfully managing their health, we take pride in empowering and equipping our customers to take charge of both their physical and financial well-being. For more information about HCS, visit hcsloans.com.