Innovative Physician Solutions posts dramatic 2nd Quarter numbers due to market demand for self-pay funding.
(PRWEB) July 16, 2000
Houston, TX - Thursday, July 13, 2000 - Innovative Physician Solutions announced today that due to the market demand for self-pay funding, IPS posted 2nd Quarter numbers dramatically above projections. “We exceeded our projected numbers by 46% through the first 2 quarters of 2000, as we have seen a tremendous growth in one of our divisions … our patient self-pay financing program,” stated company CEO, Mr. Greg Mayfield. “Self-pay funding alone has exceeded $50 million so far this year.”
Of all the areas of service that the company offers, which include medical receivable financing, medical credit cards, equipment financing, and the patient self-pay financing … the patient self-pay program has had the highest increase in growth, which is directly attributable to market demand. “Our current customers are telling us that one of their biggest areas of concern is the issue of their customers’ delinquent self-pay receivables,” stated Mayfield. “By allowing IPS to come into the organization and analyze their data, we are able to determine the value of their self-pay patients, and purchase that paper. We then implement a program which removes them from the collection process.”
IPS captures self-pay data at the time of each transaction and applies a credit rating to that particular individual. The healthcare provider receives a check for the transaction minus the discount cost on a 30 day cycle. “This new procedure is freeing up millions of dollars in new found money,” said one Hospital COO, an IPS customer.
Innovative Physician Solutions will be offering this financing program on a national level by the end of the year. The prime customer for this service is the ER setting, Hospitals, and other areas where there is a high volume of patients that have to be treated without regard for their insurance status.
For more information about self-pay funding and other services offered by Innovative Physician Solutions, please visit their website at www. financing4healthcare. com.
