Access to quality care is a fundamental right of every individual. However, for some, access to affordable quality care is difficult to obtain. Concora Credit, formerly known as Genesis Credit, recognizes the importance of providing near-prime consumers with access to financing to ensure more patients can receive the care they need to live a better life.

Here are five ways in which implementing a Secondary Financing program can help both patients and healthcare providers:

1. Increased patient access to quality care

Patients who do not meet the creditworthy parameters of a prime lender may struggle to pay for medical treatment upfront. By offering more financing options, providers can help these patients gain access to quality care, which they may not have been able to afford otherwise.

2. Improved patient satisfaction and loyalty

Patients who have access to financing options are more likely to return to the same provider for future medical needs. This can lead to improved patient satisfaction and loyalty, which can be beneficial for healthcare providers in the long run.

3. Increased revenue for healthcare providers

Offering financing options can help healthcare providers increase their revenue by allowing them to perform more procedures or services for patients who may not have been able to afford them otherwise.

4. Reduced risk of non-payment

By partnering with a secondary financing provider, healthcare providers can reduce the risk of non-payment from patients who may have challenged credit histories. This can help providers maintain financial stability and avoid costly collection efforts.

5. Boost Word-of-Mouth Marketing

Happy patients who receive quality care and are satisfied with the financing options available are more likely to spread the word and refer others to your practice. This makes financing an effective marketing tool that helps attract new patients and build a positive reputation for your practice.

Happy patients who receive quality care and are satisfied with the financing options available are more likely to spread the word and refer others to your practice. This makes financing an effective marketing tool that helps attract new patients and build a positive reputation for your practice.

Implementing a Second-Look Financing program can benefit both your patients and your practice. By offering financing options, you can attract more patients, increase profitability, reduce the uncertainty of payment, improve patient experiences, and innovate and improve your processes.

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Concora Credit is a service provider that works with third-party lending institutions to provide lending solutions for merchants. This article is for informational purposes only. To make sure that any information or suggestions in this blog fit your particular circumstances, you should consult with a financial professional before acting on any suggestions or information that we provide.