– The integration is now live and adds Splitit’s installment payment platform to Green Feather’s healthcare payments platform, Feather Pay.
– Patients can select Splitit for installment payments and combine with other payment options like HSA and FSA to help manage costs.
Splitit, the company empowering consumers to use their existing credit to spread payments over time, announced it has integrated with Green Feather and is now available as a payment option in Feather Pay, Green Feather’s payment platform that removes friction in healthcare transactions.
The partnership is part of Splitit’s professional services strategy that includes serving the growing market for out-of-pocket healthcare payments. According to the latest National Health Expenditures report by the U.S. Centers for Medicare & Medicaid Services, out-of-pocket expenses reached over $406 billion in the United States alone in 2019.
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Healthcare providers using Feather Pay can now seamlessly offer their patients Splitit installment plans to pay for their care using the available credit on their existing credit cards to spread payments out over time. Splitit pioneered a way to use the existing credit people already have, meaning patients can easily take advantage of installment payments without adding another line of credit. All with no applications and no additional interest or fees.
Patients can select Splitit and combine multiple payment types, such as flexible spending accounts (FSA) and healthcare savings accounts (HSA), in a single transaction. All delivered in a simple user experience that works, whether in-person or remote, on any digital device. By joining forces and adding Splitit’s installment capabilities to FeatherPay, patients have additional flexibility in paying for their care. In turn, practices improve their cash flow and overall revenue performance by reducing administrative overhead associated with traditional healthcare billing practices.
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“Splitit’s goal is to meet consumers where they need us the most. Paying for healthcare can be stressful enough, and having to fill out applications for financing just makes it even more trying,” notes Splitit CEO Brad Paterson. “Patients can easily select Splitit at the point of care with just a few simple clicks, helping ease the stress, while healthcare providers can focus on delivering exceptional care and patient experiences.”
“We are excited to partner with SplitIt to bring their powerful installment plan capabilities to our healthcare customers through an integration into our payments platform, Feather Pay,” said Craig Haynor, CEO and co-founder of Green Feather. “SplitIt is a fantastic product and company, led by a purpose-driven team that understands the affordability problem in healthcare. This partnership will enable all of us as patients to receive the care we so deserve and to live healthier lives because of it.”
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