BHG Patient Lending

3 Things to Consider when Choosing a Patient Financing Solution

The impact of the changing payment market and what to consider when choosing a financing partner

By Keith Gruebele, President at BHG Patient Lending

Today’s healthcare payment market has reached its tipping point. While payment responsibility has slowly shifted from traditional insurance companies to patients over the past decade, out-of-pocket costs have now skyrocketed, leaving many Americans unable to pay their medical bills.

How does this affect providers?

The impact on healthcare facilities has been astronomical. Over $485 billion in patient responsibility is billed every year by medical providers across the country, but only 45% of that is collected.

This can be attributed to a number of factors, but one of the underlying issues remains that healthcare costs and insurance rates are steadily climbing. To combat this, many employers are offering high deductible health plans, which can keep premiums low, but requires consumers to pay sizeable expenses before their coverage kicks in.

For those in good health, this seems like a viable option, but for those with medical issues or in need of an elected procedure, a new problem emerges: out-of-pocket costs are rising but hourly wages and salaries aren’t trending in the same direction. Higher costs, but less disposable income, means more patients can’t afford quality care. 40% of Americans wouldn’t be able to afford $400 for a medical procedure or emergency.

What can be done to solve this problem?

The most economical and effective way for healthcare facilities to overcome these challenges is to partner with an expert in patient financing. With a variety of options available, choosing the right partner is the key to success. Here are three things to consider when establishing a partnership:

  1. The true costs involved for both patients and your facility, so there are no surprises
  2. The level of ongoing service and support provided by the vendor
  3. The benefits, as well as any potential hurdles, the vendor offers patients and staff

At BHG Patient Lending, we focus on reducing expenses and improving revenue, all while creating a great patient experience. To learn how BHG Patient Lending differs from other patient financing solutions on the market today, email me at

Keith Gruebele

President, BHG Patient Lending

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