Consumer Friendly Loan Program Will Help Patients Manage Medical Costs
(FERGUS FALLS, Minn.) – Recognizing that patients are shouldering more of their medical costs, Lake Region Healthcare today announced a new financing option for its patients. The new option provides patients an affordable loan program to pay out-of-pocket healthcare expenses, including high deductibles and copayments from their insurance plans incurred at Lake Region Healthcare.
Lake Region Healthcare has partnered with ClearBalance® to offer this consumer-friendly patient loan program. Under the program, patients receive a zero-interest loan with reasonable, flexible repayment terms to pay out-of-pocket hospital expenses, including deductibles and insurance copayments.
More and more patients are consumers, shopping for health care based on quality, convenience and cost, said LRH CEO, Larry Schulz. “We realize that many patients need an affordable payment program to help cover out-of-pocket expenses,” he says. “We believe offering a financing option that will help ease the financial burden that can come with health care will enhance the patient experience.”
Patients can enroll in the ClearBalance loan program quickly and easily – no written application is required. They can also add future medical bills to their balance. Patients can make monthly payments online, over the phone or by mail.
More information about the program is available from Lake Region Healthcare’s Patient Financial Services staff at 218.736.8000. Support for customers enrolled in the program will be available from the ClearBalance Patient Experience Center which is open Monday through Saturday to answer questions and help patients manage their loan payments.
About Lake Region Healthcare
Lake Region Healthcare is living out its vision to be Minnesota's preeminent regional healthcare partner. With over 80 medical staff and over 900 employees, its team is dedicated to serving its patients and community with integrity, teamwork, compassion and excellence. For more information about Lake Region Healthcare, visit www.lrhc.org.
About ClearBalance
ClearBalance® is the leading provider of consumer-friendly patient loan programs to U.S. hospitals and health systems. Based in San Diego, ClearBalance has served 4 million patient accounts at hundreds of healthcare organizations nationwide since 1992. ClearBalance maintains the highest loan repayment rates in the industry. Our healthcare partners are able to significantly improve operating margins by increasing collections, while ensuring a positive experience for patients who appreciate the ability to affordably repay their direct cost of health care. www.clearbalance.org.
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