Medical providers are in the “care” business. While not everyone in the organization is providing medical care for the patients, almost everyone cares about the well-being of the patient – not just medically, but in general. The provider is still a business though, meaning that in order to continue helping patients, they have to receive compensation for their services. The current healthcare environment does not provide a high chance of success for the provider to collect payment, a recent Bloomberg article outlines the factors that account for this.

Around 36 percent of insured patients in 2015 had high-deductible or consumer-directed health plans. 81 percent of plans offered through employers contained a high deductible. Kaiser Family Foundation states an average aggregate deductible of $4,347 for family coverage. Yet, according to the Advisory Board, patients are unlikely to pay medical bills that are greater than 5 percent of household income. With a median household income of $53,000 in the U.S, that equates to $2,650, which is well below the average family deductible.

To mitigate the patient’s inability to pay in full, providers have implemented different variations of payment plans to try to increase the chance for collection. However, they cannot afford to carry the debt as long as needed for the patient to be able to make the payments. So even though providers may give the patients a few months to pay, they generally cannot offer a long enough term that lowers the payment to something the patient can afford. This means the provider has to be the bad guy. Of course collections policies have to come from management and then be enforced by the folks in the billing office. I have had many conversations with these employees that comment on how this affects their job-related satisfaction and even their relationships with those in the community.  One PFS representative went so far as to say that she would only go grocery shopping after dark to try to avoid any encounters with patients from whom she was trying to collect!  Obviously that is an extreme example.

Without having a payment option that will work the bill into the patient’s budget, the billing office doesn’t have any option but to send patients to collections and potentially damage their financial standing. After discussing the effects of implementing MyLoans with customers, one of the common praises we hear is how much happier the employees in the billing office are and how much that impacts the organization. Rather than dreading collection calls, they can now call patients with an option that will actually work for them.

“I’ve received nothing but 5 stars on employee reviews since implementing MyLoans.” Bernie Hergott, Director Patient Financial Services at Columbus Community Hospital


We have all read the studies that describe the increase in productivity from happier employees. Couple this with the already improved collections through MyLoans and your entire organization can have the tools needed to do what they are all there to do – care for 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