MyLoans Healthcare Financing Software™

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From the Blog

Thank you, but I’ll pass on that important medical procedure.

We have all had some visibility to the effects of the high-deductible health plans (HDHP); however, I’m not sure how many people predicted the behavior that many medical providers are seeing from their patients. In a recent article published in The New York Times, the study described numerous interviews with patients that indicated they had to make difficult decisions to put off care because of the cost for which they were now responsible. Here is one of the more shocking examples:

“Beth Landrum, a 52-year-old teacher, who is insured through her husband’s job as an engineer, saw the deductible on her family’s plan increase to $3,300 a year.  Ms. Landrum decided to delay having the M.R.I. her doctor recommends she get every three years. Ten years ago, she had a noncancerous brain tumor that required surgery and radiation. “My doctor’s really mad at me because I haven’t had the M.R.I.,” she said, but she and her husband say they need to save toward the cost.”

Source: TeamHealth and Rand Corporation

A brain tumor seems like something you may want to check up on from time to time. Unfortunately, most patients do not have the savings to cover these high-deductibles every year. Another example described a person who choose a $6,000 annual deductible in order to afford the $129 monthly premium. Even when this person was worried she had cracked her rib, she decided against going to the doctor because she could not afford the deductible. What is the point of even having health insurance if you are going to avoid necessary medical care? Sadly this behavior is not specific to the few examples in the article. According to the survey conducted, 40% of people with private health insurance whose deductible equaled 5 percent or more of their income avoided medical care.

Here at Epic River, we recognize the financial burden that HDHP are having on patients. We cannot control the increasing need for these plans, but we can help patients work these high deductibles into manageable, monthly payments. Please help stop this nonsense of avoiding medical care and instead use MyLoans to ease the financial burden on patients.

About MyLoans™

By providing patients with fast access to medical loans at a fair and unchanging interest rate, the MyLoans™ software by Epic River enables financial institutions to ease the financial stress of health care through collaboration with medical providers. Not only can medical providers offer patient financing for medical care needs, but doctors and hospitals alike can finally get immediate funding of their patient’s outstanding balances. Additionally, financial institutions gain new customers and interest income with little administrative overhead in exchange for servicing the loan. For more information, visit

About Epic River, LLC
Since its inception in 2005, Epic River has been providing high quality software services aimed at solving process-intensive problems. With a focus on high quality and rapid delivery, Epic River’s methodology accelerates the process of innovation while keeping a firm grasp on the business case behind the application, enabling our partners to grow their market leadership. The company’s unique approach to the agile methodology and user experience ensures both parties work closely together every step of the way. Whether you’re looking to expand into new technologies or markets, need a custom internal tool, assistance with architecture, or simply need someone you can trust to make technology decisions, Epic River is at your service. For more information, visit

Epic River becomes Silver Sponsor of HFMA

The Healthcare Financial Management Association (HFMA) has a bold tag line:
The Healthcare Financial Management Association can help you change the world of healthcare finance.

While bold, this tagline helped the Epic River team to realize there was no better organization in which to pledge support and participation. We are confident that our MyLoans Healthcare Financing™ solution will revolutionize collections of patient responsibility – ever increasing deductibles and coinsurance. Our belief in MyLoans may seem equally bold, but like HFMA there is a reason we’re so confident.

Our solution enables a seamless financing opportunity hosted by local banks and facilitated by healthcare providers. The result is patients are positioned to successfully remit their medical bills in much more manageable installments and the healthcare provider is paid up front. Where MyLoans has been rolled out, the impact has been dramatic. Recovery of patient responsibility has jumped on average from a meager 45% to over 80%.

Interest rates on these loans are extremely competitive and, in some instances, have been absorbed by the providers to ease the burden on their patients. This presents an obvious win for both parties. Patient satisfaction sky rockets and providers are still able to significantly outpace historical patient responsibility recovery rates.

Why has MyLoans had such a dramatic impact on the success rate of collecting patient responsibility? It has to do with the hierarchy of how people prioritize their expenses – banks first, healthcare providers last. Since MyLoans converts patients bills to bank loans, they jump to the top of the hierarchy:

“HFMA is the nation’s premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today.” In light of ACA, there arguably is no greater challenge than the rising cost of patient responsibility.


Epic River is based in Loveland, CO so it seemed logical that our first HFMA event would be the Great Fall Rural Conference – Hotel Colorado, Glenwood Springs, CO being held September 23rd – 25th, 2015. If you plan to attend, please come see us. In the meantime, please feel free to visit the following YouTube link to learn more about our MyLoans Healthcare Financing solution:

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  • 815 14th Street SW, Loveland, CO 80537
  • (970) 292-5045 x5151

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