Financing of Payment Arrangement Accounts
With increased insurance deductibles and growing uninsured populations, healthcare organizations are seeking solutions which remove long-term self-pay payment arrangement accounts from their Accounts Receivable. QUE Financial's SOLUTIS™ Financing program allows healthcare providers to extend an additional payment option to its patients for the resolution of their outstanding self-pay balances.
The SOLUTIS™ Financing program allows healthcare providers to take advantage of the service on provider-negotiated accounts, or in conjunction with our Billing and Payment Arrangement services. This program is made available on a full recourse basis in that if the responsible party defaults on his/her payment obligation, the account will be repurchased by the provider.
QUE Financial will purchase Payment Arrangement accounts from your facility, at a minimal discount, and manage them through the life of the negotiated term. An interest charge will be assessed on each payment, much as a bank or lending institution would do. However, there are no bank notes to sign and your patients will be provided the same professional, consistent and patient-friendly follow-up services that are unique to QUE's other lines of business.
Implementing the SOLUTIS™ financing program is easy. Your organization determines which accounts to sell, and we take care of the rest! QUE will provide the Regulation Z notice, on your letterhead, that includes the interest charge and all other Regulation Z requirements. This notice will also inform the responsible party that their account has been assigned to QUE and that they should remit all future payments to QUE.
QUE's Financing program provides:
- Immediate cash to your bottom line
- Decrease in buy-backs with higher recovery rates
- Decrease in bad debt placements
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