Patient financing services should support your practice by increasing the financing options available to your patients while saving you time and money. Instead, the leading companies in the patient financing industry provide patients with healthcare credit cards, which are both time-consuming and costly for your practice.
With healthcare credit cards, the process of providing your patients with access to financing is very complicated. Your office must not only personally sign and date each loan application, but also save and file a paper copy of each application for approximately 6 to 7 years! This method of patient financing will cost your office valuable time that you could use towards helping your patients.
Assuming your office received one application per day with a healthcare credit card, you would be required to store over 38,880 pages of paper over a 10-year period. This is over 388 pounds of paper and would fill up 4 vertical filing cabinets with 4 drawers each. Storing applications will also take up a significant amount of space in your office.
Most healthcare cards give your office a choice to either retain these records or ship them back to the credit card company, resulting in hundreds of dollars in shipping costs. Dealing with paper applications will also cost your office a significant amount in wages to process, file and box up and ship every single application.
Prosper Healthcare Lending, (PHL) is changing the way healthcare providers view patient financing. Instead of offering borrowers healthcare credits cards, Prosper will provide them with access to simple interest installment loans. These loans are completely paperless, meaning the healthcare provider does not need to store applications indefinitely and there is no need to print and personally sign each application.
PHL also operates an easy to use online provider dashboard giving your office access to real-time tracking on loan inquiries, detailed reporting, unlimited training and support, and access to our live lending consultants through Live Chat (instant messaging).
Prosper will save your practice time and money by providing access to responsible patient financing options.
Patients can apply for a loan directly from a link on your practice website. They can also check their rate quote online in seconds without hurting their credit score. And finally, your patients will never be hit with harmful retroactive interest or hidden fees.
Prosper Healthcare Lending is disrupting the patient financing industry by offering an innovative, easy-to-use patient financing platform for healthcare providers. Through Prosper, you will be able help more patients receive the treatment they want or need without wasting time from your busy day with extra administrative hassle. To learn more about how Prosper can save your practice time and money call 888-602-6066 to schedule a free web demonstration.
*All loans funded by WebBank, a Utah-chartered industrial bank, member FDIC.