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Media Contact: Jennifer Vansant at 858-200-9213 or jvansant@csifinancial.com
CSI Financial Services Expands Again in the West; two hospitals in Oregon and Wyoming Now Offering Automated Patient Loans Loan programs require no written application and offer zero interest and below-market interest rates with low monthly payments August 1, 2008 - San Diego, California - CSI Financial Services, the nation's leader in affordable, compassionate loan programs for underinsured and uninsured patients, continues to expand its market in the West by engaging new hospital clients in both Oregon and Wyoming. The patient friendly loan programs are being implemented to improve cash flow generation, decrease collection costs, and offer an affordable option to patients who are not able to pay their healthcare obligation in full when due. According to Mitch Patridge, CEO of CSI Financial Services, "As healthcare costs continue to rise, hospitals throughout the United States are recognizing the need to offer their patients new payment options that meet the needs of the patient community and still allow the hospital to maintain their financial health. CSI offers a wide variety of loan programs which allow for the perfect solution for each hospital in every region throughout the U.S." Under their new program, the Oregon facility has chosen to offer bank financing with a low 6% interest rate to their patients in conjunction with their own internal financing plans. These two payment plan options are fitting for the hospital's patient demographic, are competitive in their marketplace, and fit the needs and mission of the facility. The new patient loan program has relaxed underwriting standards that enable even patients with low or no credit scores to qualify for the bank program. The Wyoming facility has chosen two programs to compliment their own internal payment options. CSI will fund the hospital's existing internal payment plans, and provide those patients with bank loans carrying a zero interest rate. Not only does this program provide a much needed cash infusion to the hospital but it greatly reduces the workload associated with managing these accounts. In addition to funding the existing payment plans, in the future, patients who cannot pay their obligations in full will be eligible to receive bank loans at a low interest rate, with manageable monthly payments. CSI's loan programs include other attractive features, including no punitive interest rates, and no prepayment penalties. Additionally, there are no origination or annual fees, and the patient may pay their monthly bill via the mail, phone or Internet. Mitch Patridge also noted: "Healthcare consumers now have more choice than ever before. Hospitals that offer innovative services -- including affordable, flexible payment options -- will be more attractive to consumers. We take pride that our experience and reputation enables us to provide such patient-friendly terms. Nationwide, our loan program has kept many patients and their families from being referred to collections, providing a benefit to the entire community while also saving medical facilities an estimated 30 to 40 percent over the cost of a collection agency." CSI Financial Services has provided hospitals and patients with non-application based loan programs since 1992. CSI has funded more than $250 million dollars in patient loans enabling hundreds of thousands of patients to pay their healthcare obligations. For more information about CSI Financial Services visit www.csifinancial.com. |
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