Curae and West Alabama's DCH Health System Announce Strategic Arrangement to Provide Non-Recourse Financing for Patients
ATLANTA, Nov. 15, 2018
ATLANTA, Nov. 15, 2018 /PRNewswire-PRWeb/ -- Atlanta-based Curae and the Tuscaloosa, Alabama-based DCH Health System to provide flexible, non-recourse patient financing offered by Curae's bank partner, a leader in consumer financing products. The newly formed relationship will provide DCH Health System with flexible patient payment solutions, higher utilizations, improved patient loyalty, and increased patient yield.
"Curae® branded lines of credit help patients with the sometimes unexpected burden of higher healthcare expenses, and offer providers financial security with a fiscally responsible non-recourse patient financing solution," said Mark Starr, Executive Vice President, Curae. "Unlike other non-recourse patient financing solutions in the market, Curae® lines of credit address the entire credit spectrum, serving a broad range of customers, not just prime borrowers."
Patient out-of-pocket payments continue to be on the rise. Recent data suggests that 50 percent of healthcare patient receivables are for bills between $1,000 - $10,000. In tandem with other studies showing a majority of Americans have less than $1,000 in their bank accounts, there's a significant need for Healthcare providers to offer financing solutions, and help patients access needed healthcare with the convenience of flexible payment options.
By offering Curae® lines of credit, DCH will enable the following:
- Flexible non-recourse financing
- Simplified, streamlined patient payment enrollment processes
- Integrated multi-touch communication options between DCH providers and their patients
- Funding to DCH within 48 hours from the time of service
- A reusable line of credit for eligible patients
- No impact to the patient's credit score to view available offers
"We realize the need for patients who wish to move forward with procedures that can be expensive, but still necessary to achieve a higher quality of life," remarked Michael G. Wilson, Director of Patient Accounts at DCH Health System. "Financing is often the answer to this challenge. We are excited about the innovative solutions the Curae® product brings to our patients, and look forward to working with their team to improve the affordability of healthcare at our West Alabama facilities."
About DCH Health System: Under local ownership and leadership for more than 90 years, the DCH Health System has continually evolved to offer advanced care to West Alabama. Today, the DCH Health System includes DCH Regional Medical Center, Northport Medical Center, and the Fayette Medical Center. To learn more about DCH Health System, visit https://www.dchsystem.com/.
About Curae: Believing the revenue cycle model in healthcare is fundamentally broken, Curae exists to empower providers to serve more patients through a suite of flexible, non-recourse-based financing options. Headquartered in Atlanta, Curae works with healthcare providers across the United States. For more information, visit https://curae.com.