SOURCE: MedChoice Financial

MedChoice Financial

August 23, 2010 08:05 ET

MedChoice Financial Launches M100 Patient Payment Program for Medical Practices

DEERFIELD BEACH, FL--(Marketwire - August 23, 2010) - MedChoice Financial, a national medical financial company, announces M100, a flexible and innovative payment program and accounts receivable management tool to support healthcare practices. Dental, cosmetic, laser hair removal/restoration, chiropractic and medical practitioners are now able to manage their accounts receivables (payments from patients) using a fast and easy to use online patient payment program that MedChoice Financial developed to increase efficiency and facilitate automated collections.

Medical practices now can enroll their patients in the M100 program -- enabling them to treat patients that may lack the credit to borrow but have the cash to make payments. Practices can substantially increase the amount of treatments completed and grow their monthly accounts receivable base.

M100 enables medical practices to treat more patients by lowering administrative costs, expediting cash flow and delivering a method to quickly and easily collect receivables. MedChoice Financial takes away the burden that practices have from collecting receivables from patients. Once patients are enrolled in M100, MedChoice Financial will take on the responsibility to electronically charge patients monthly for the amount due and will automatically transfer the money directly to the practices' financial accounts.

"What makes M100 so innovative is that after patients make nine consecutive payments, the M100 program ensures that practices can recoup up to 90% of any outstanding amount due," said Valerie Harding, MedChoice Financial's spokesperson. "Medical practitioners can really leverage the M100 and achieve an effective payment program that helps grow their business, serve more patients, reduces costs and automates patient financing."

M100 can help a practice in the following ways:

  • Enables practices to provide care for patients whose credit was previously an obstacle.
  • Provides the flexibility to create customized payment programs for patients based on MedChoice Financial's recommendations.
  • Offers patients a very popular automatic bill payment option.
  • Tracks monthly payments and eliminates patients' disputes as transaction processing is automatic.
  • Delivers an easy Web-portal tracking system to manage all inbound receivables.

About MedChoice Financial

MedChoice Financial, headquartered in Deerfield Beach, FL, is a national medical financial institution that services the medical community (medical, dental, cosmetic, chiropractic) and its patients with flexible, convenient financing solutions. Dedicated foremost to superior customer service, MedChoice Financial has become one of the largest and fastest growing elective medical financing companies in the nation. For more information, visit www.medchoicefinancial.com

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