Many hospitals were already worried about patient bad debt and how to help patients pay their medical bills. Then came the pandemic, skyrocketing unemployment, and the elimination of elective surgeries. With millions of people filing for unemployment and losing healthcare coverage, cash is severely strained for both patients and providers.
Providers are eager to safely get the ball rolling on revenue-generating elective procedures. But how can they assist the backlog of pre-authorized patients who may not be able to afford the elective surgery anymore?
During this pre-recorded webinar, we reviewed cash management strategies hospitals can quickly implement to improve their financial health. Key discussion points:
- Current revenue cycle struggles with cash management
- Factors to consider when considering a 3rd party financing program
- A comparison of three patient financing approaches: in-house payment plans, recourse lending and non-recourse lending
- The case for non-recourse lending
- Why you should consider iVita Financial as your lending partner
- Greg Falconer, President and General Manager, iVitaFi
- Chris Cox, Vice President of Strategy, iVitaFi