Healthcare financing platform PayZen signed a partnership settlement with the Iowa Hospital Affiliation (IHA) and its subsidiary ServiShare to function the popular affected person financing supplier for IHA’s community of 117 hospitals and 17 well being techniques.
Powered by synthetic intelligence (AI), PayZen goals to assist result in options for healthcare affordability by offering financing choices for sufferers and suppliers throughout the state of Iowa, in response to a press launch on Tuesday (Aug. 9).
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IHA selected PayZen following a cautious choice course of that included the agency’s method to a financing answer that provided affordability whereas additionally serving the wants of residents statewide, in response to the discharge.
“PayZen not solely met our requirements of service for our members but additionally demonstrated the flexibility to work efficiently with suppliers in rural settings,” stated Perry Meyer, govt vice chairman of IHA and SeriviShare.
“Rural suppliers are below immense strain to ship high quality care with restricted assets, however with PayZen’s distinctive method to fixing affected person affordability, we will present customized monetary options for all Iowans trying to entry inexpensive well being care throughout our member hospitals,” Meyer stated.
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PayZen gives versatile fee choices that try to assist scale back medical debt whereas additionally making it extra inexpensive. The corporate additionally works to make it simpler for medical professionals to enhance efficiency and supply the care their communities want.
“One of many methods our platform brings worth to well being care suppliers, giant and small, is its flexibility and ease of integration,” stated Ed Younger, vice chairman of options at PayZen. “Our platform can be utilized by organizations with restricted assets and requires no IT funding to implement, whereas nonetheless giving each affected person individualized fee choices to suit their budgets.”
For Iowa hospitals providing PayZen, sufferers who apply are robotically permitted with no credit score test. PayZen’s 0% curiosity, no-fee fee plans are decided by an AI algorithm that analyzes greater than 30,000 monetary information factors to find out custom-made month-to-month installments and phrases as much as 60 months, in response to the discharge.