Bankers Healthcare Group Purchases Stake in Simple Admit; Grows Patient Lending Presence
DAVIE, Fla., Sept. 25, 2018 /PRNewswire/ -- Bankers Healthcare Group, a leading provider of financial solutions for licensed healthcare professionals, acquired a 20% stake in healthcare technology company Simple Admit, LLC. This partnership combines Simple Admit's innovative technology with BHG's lending expertise in the healthcare industry. Together, the two companies create a powerful solution that encompasses all aspects of patient relationship management, from pre-visit screening and registration to payment and collections.
"This investment positions both BHG and Simple Admit for continued growth and brings solutions that benefit the healthcare industry. We're excited about partnering with a healthcare technology trailblazer like Simple Admit," said Al Crawford, Co-Founder/Chairman/CEO of BHG.
BHG's patient financing program, BHG Patient Lending, will now be offered through Simple Admit's platform, Simple Pay, as an additional option for patients to settle their out-of-pocket costs. Simple Pay calculates the patient's expense prior to the date of service and allows for payment to be collected directly through the platform.
"Our experience and relationships within the ambulatory and surgery center market, coupled with BHG Patient Lending, will have an immediate impact on both the provider and patient experiences," said Dan Coholan, co-founder/CEO of Simple Admit. "We're excited about the opportunities that our partnership with Bankers Healthcare Group is already delivering and where the future will take us."
With BHG Patient Lending, all patients can qualify, regardless of credit history, and they can choose payment terms that best fit their budget (up to 60 months) with no hidden fees. When a patient chooses to use the BHG Patient Lending solution, healthcare facilities receive 100% funding, reducing procedure abandonment, as well as outstanding accounts receivables.
"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 Tyler Crawford, CEO of BHG Patient Lending.
BHG Patient Lending has a unique funding model. Through its network of more than 900 U.S. community banks and Pinnacle Bank's 49% stake in the company, BHG has unlimited funding options to meet the needs of healthcare facilities of all sizes. While BHG Patient Lending is designed to offer patients an alternative way to pay for their healthcare costs, it also provides banks with interest-earning income opportunities.
About Simple Admit
Simple Admit is a leading provider of automated patient relationship management for surgery centers. The platform offers providers a customized suite of online services that provides a strong ROI, increased revenue, improved efficiencies, and cost savings from pre-admissions through post-op care. Additionally, the solutions improve patient safety and satisfaction.
About Bankers Healthcare Group
Bankers Healthcare Group provides innovative, hassle-free financial solutions to healthcare professionals. Since 2001, BHG has provided more than $3.5 billion in financial solutions to satisfied customers nationwide and worked with over 110,000 practitioners. BHG is proud to maintain partnerships with leading healthcare industry associations, and is continually recognized for innovation, growth, and being a best place to work. BHG is partially owned by Pinnacle Financial Partners. To learn more, visit www.bankershealthcaregroup.com, and follow us on Twitter, LinkedIn and Facebook.