NewswireToday - /newswire/ -
Dana Point, CA, United States, 2009/08/22 - US based American Benefit Credit, Inc., announces new medical financing product and becomes and overnight success with Dr's.
American Benefit Credit, Inc., a US based finance company, today announced that it has launched it’s Select Rewards Visa® program for medical providers. Their out of the box approach with this financing solution, has made them an overnight success in the medical community.
"This product was needed in today's financial crunch for medical providers and patients alike," said Philip McClendon, American Benefit's Vice President of Operations, "Hearing the need from our current medical relations, we offered the initial program as a pilot which grew to be an overwhelming success for us. This ultimately made our decision easy for us as a company and thus launched the product earlier than anticipated to the medical community. It now provides us with a very competitive solution to increase our capacities and extend our reach as a national medical lender.”
This products comes at a time when the financing need is at it's strongest nationwide, as Dr's find it more difficult to offer patients financing while keeping there practices afloat. The Select Rewards program comes to the need of the medical community. This product is the first of it's kind without a fee structure attached, which normally leaves the Provider or Patient paying an extra fee just to get the loan needed.
Even with the use of insurance you will find a vast majority of patients still cannot afford to pay their medical bill. Health insurance helps, though when they are forced to visit a doctor that's not in their provider network or worse yet, hospitals that do not work with their insurance company because that Dr. might be the only one available to them at that point. When the patient finds there are medical bills piling up and they still have more procedures that need to be performed, they do not have to sit around and wait for the day when they can afford to pay the bills and have the procedures done. A healthcare or medical loan is often a great idea because it will give you the funds to pay your doctors and you can achieve the desired health outcome you are looking for.
While health insurance is useful, it doesn’t take care of all of the patients medical bills and this is where medical financing products help. The loan doesn’t do away with the necessity to pay their medical bills; instead it just makes it more affordable to do so.
Many people believe that they cannot get a healthcare loan if they have health insurance, but this is not the case. The fact is that insurance doesn’t pay their entire bill, so if they have a major procedure they can be left with half the bill to pay. A healthcare loan is for anyone that needs help paying their bills, regardless of their insurance situation. The patients insurance company will not object to the loan, in fact, they may never know about it if patient does not want them to.
This product comes out in the time when providers need it the most. With more and more lenders forced to pull out of the market, this solution offers medical providers a choice that is quick and bottom line provides them with a higher profit margin.
American Benefit Credit, Inc. (abfcredit.com), a California based Corporation, which works with hospitals and medical providers to build and deploy financial solutions for their patients.