Nancy is a Patient Lending Executive with over two decades of relevant experience designing and implementing the right lending solutions to increase case acceptance. Not all practices are the same, and neither are patients. So, your lending program should support your business model and allow you to approve up to 100% of patients who need a payment plan. This will enable them to move forward with their care today.

Enrolling with a lender is not implementing a lending program. To close cases staff members need to know how to offer lending solutions to each individual patient based on their specific needs and budgetary requirements.

Nancy was the visionary and founder of Healthcare Finance Direct (HFD) and Choice Payment Services. Her book, Finance Rx, provides unique patient lending strategies that skyrocket case acceptance.

Consultants, please request the questionnaire below to determine if the provider’s current financing program is designed for optimal case acceptance and evaluate the practices’ aptitude and the staff’s Finance IQ. I will send a copy to you, free of charge.

Patient Finance Questionnaire

To determine if your financing program is designed for optimal case acceptance, review the list below and evaluate your practices’ aptitude and your staff’s Finance IQ.

Rate your practice on a 1-5 scale, 1 being “yes, definitely” to 5 being “never”.

____Your conversion ratio from prospect to a closed case is less than your projections.
____You’re consistently straining to reach income targets — or you are missing them entirely.
____Your patient coordinator(s) is frustrated and complains that they cannot get their patients   approved for financing.
____The expense of the financing program is biting too deeply into your profit margins.
____Your patients complain about higher than desirable interest rates.
____The lending process is fragmented and confusing to your team coordinators sales prospective patients.
____You don’t have the ROI (return on investment) you expected from your current financing program.
____You added new products, treatments or services to your practice but do not have a payment plan designed to   promote new sales.
____You offer In-House payment plans, but you’re not sure if you are licensed and/or registered appropriately for regulatory compliance.

____You offer In-House financing and have been burned when your patients don’t pay as agreed.

____You have aged receivables that you struggle to collect or liquidate.
____Your treatment coordinator(s) are comfortable offering lending to every patient.

____Your treatment plans have payment plans presented on the document presented to your patients.

____You have more than one lending program available to offer your patients.

____The lending program you offer is not competitive with the other(s) available.

____Your loosing cases to your competitors.
____Your staff turnover is high.

If you scored an item above with a 3 or less (on a 1 to 5 scale) your financing program should be evaluated and corrected.