Spectrum Health United Memorial Offers New Payment Option
Spectrum Health United Memorial is introducing a new payment option for patients in partnership with Aequitas Capital Management. The program, called CarePayment, allows patients to arrange for payment of hospital bills in affordable, monthly installments through a revolving line of credit. This program is available for services rendered at both the Kelsey Hospital in Lakeview and the United Hospital in Greenville.
CarePayment is an extended-term, zero percent financing program for services rendered between $250 and $25,000. Patients who opt for this payment method receive a Spectrum Health-branded CarePayment card. There is no pre-approval or application process, and additional charges can be added to the card as long as the patient keeps making monthly payments. The minimum monthly payments are only four percent of the highest balance or $25, whichever is greater.
“We are sensitive to the strain that unplanned, out-of-pocket medical expenses can bring to a family who may already be dealing with health concerns,” said Mary Anne Jones, chief financial officer, Spectrum Health United Memorial. “CarePayment allows our patients the option of an extended-term, interest-free finance program to ease the burden.”
Aequitas Capital Management developed CarePayment to address the financial challenges patients often face, whether it’s due to higher co-pays and insurance deductibles or the lack of medical insurance altogether.
“Our critical goal for CarePayment is to provide patients with an easy and affordable way to pay their out-of-pocket expenses,” said Steve Wright, Aequitas’ senior managing director of Healthcare Markets. “The CarePayment program reflects our ongoing commitment to developing socially responsible financial services that create a positive impact for our clients and their communities.”
Through CarePayment, Spectrum Health United Memorial is also able to provide greater patient advocacy services. Highly trained staff members are available at both hospitals to provide education and assistance regarding the financial programs.
“The health of our patients is top priority,” concludes Jones. “We offer payment options that will work best for each individual or family, so they can focus on the healing process.”
Spectrum Health United Memorial is committed to providing excellent personal care and services through state-of-the-art technology and qualified, caring staff at the Kelsey Hospital in Lakeview and the United Hospital in Greenville. Spectrum Health United Memorial provides local access to quality care through the region’s largest health care system.