LiquidCare patient financing solution enabling patients’ immediate access to medical care
LiquidCare, an affiliate Company to healthcare FinTech, Liquid Payments, Inc., launches an easy, transparent patient financing solution, redefining what it means to attain affordable healthcare.
In partnership with Iowa based, American Bank & Trust Company, N.A., LiquidCare’s innovative solution creates a financial pathway to improved health, enabling patients’ immediate access to the care they need through instant, customized and affordable payment options with no risk or cost to healthcare providers.
“We recognize traditional lending options in the market today are expensive for healthcare practices, render low approval rates, and are generally over complicated. We developed LiquidCare to address these challenges, taking cost and friction out with a paperless, digital experience, expanded access to financing, and alleviating the provider burden,” said Shashi Kapur, CEO Liquid Payments.
The solution provides 100% instant approvals for patients with a credit score of 580 and above, and unlike many competitor offerings, there are no fees or recourse for providers.
Jeff Rose, President of American Bank & Trust Company, N.A., commented, “The Bank is thrilled to be partnered up with the LiquidCare team as we help broaden access to healthcare services. Inherent in the LiquidCare approach is to position the borrower, the patient in this case, for a successful repayment experience, building their future credit profile, and uniquely aligning physical and financial health. In doing so, the LiquidCare solution directly aligns with the Bank’s values, supporting consumers and businesses alike through sound financial products.”
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Patients can quickly apply for and receive funding via an easy-to-use mobile experience that provides instant financing options via a consumer-friendly “soft” credit check process. Patients are immediately informed of their approved loan amount, interest rate, and repayment terms, providing full financing transparency. Healthcare providers can then deliver applicable treatment confidently, knowing they will be paid in full the next business day.
Kapur further commented, “LiquidCare is a natural complement to our sister company Liquid Payments, Inc., where we remain committed to delivering operational and financial value for healthcare practices, as well as driving deeper patient engagement, through our innovative payments technology.”