5 Great Reasons to Outsource Your In-House Patient Financing

Financing, Lending,

“Why should we use your company, we can do the same thing with in-house financing”?

This is a common question we receive from providers when they call requesting information about our services here at Healthcare Finance Direct (HFD). And it’s a great question. Afterall, I believe it was Albert Einstein that said,

“If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask, for once I know the proper question, I could solve the problem in less than five minutes”.

So here is the simplest breakdown of the advantages of using HFD as your “In-House Financing Service” as opposed to doing it yourself.


When it comes to treating your patients, we understand the importance of maintaining a healthy relationship. In other words, your patients look to you for answers, advice, comfort and many other things; receiving phone calls from you and your office staff once a week reminding them of their outstanding balance, tends to put stress on the doctor-patient relationship. We take that pressure off of you so you can concentrate on what matters the most; your patient. When they receive a phone call from you, they know they can trust you are following up on their health instead of covering your bottom line by reaching into their pocket.


Our highly skilled and trained staff calls your patients up to 2.6x a week if they miss any payment and we work with them to keep them current until their balance is paid in full. We have more than eight years of experience, holding true to industry standard calling and collecting principles. With all the work we put into it, any provider would have a hard time staying profitable on the treatment. We find if you factor in the time for this process by the cost to you the provider (Considering we don’t make money unless we collect a payment from your patients) you find that having HFD manage your patient’s payments, in most cases, is far more effective and a lower cost alternative than having your own in-house department.


This may very well be our provider’s favorite aspect of our program. We keep you and your business compliant with both the “Truth and Lending Act (TILA) and state Retail Installment Acts”. Compliance requirements do vary by state. If you as a provider take a down payment from your patient and collect any more than 3 payments, you are then considered a lender and must remain in compliance with multiple federal and state regulations. Not to mention, regulations change without much notice so having a compliance partner means you can always count on being covered.

Sounds exhausting, doesn’t it? Well, don’t worry about it! Your time is valuable and shouldn’t be spent sifting through dozens of regulatory mandates and rules. Focus on your passion and keep your business protected.


That’s right. Because we are a finance company we give you the option to charge and collect interest. (Interest rates vary by state) and the great news, 100% of the interest collected is yours. Imagine that, charging a fair and attractive rate of 12.99 % per annum is like investing in your own patients while still making a good return on investment. That’s why we think you should give your patients a lot of credit.


Not only do we manage your patients but we allow you as the provider the creative freedom to build a plan that works best for you and your patients. You can choose how much of a down payment you want to collect from your patients, their monthly payments, the length of their term, and how much, if any, interest you want to charge. You also have the freedom to change these terms whenever you want. Think of us as your financing platform and consultant – we provide the tools and knowledge necessary to make the best decisions for your business.

In short, our hope is that you never have to worry about your patient’s payments ever again. Let us show you why many of the country’s largest medical providers choose HFD to manage their in-house patient finance programs. We give patients a lot of credit and believe you should too.


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