Corporate Profile: ChaseHealthAdvance

Elective, but often necessary, dental and health-care procedures including advanced dental care, orthodontic work, vision correction and cosmetic procedures often go uncovered by insurance. In 2005, Chase began working to create a new financing option to provide affordable, flexible options to help patients finance these treatments. Since day one, ChaseHealthAdvance has been focused on being an advocate for patients and practices. There is an ongoing focus on not only looking for ways to improve and simplify the financing process, but also providing practices with innovative tools and resources.


From left: Forrest Estep, VP of inside sales; Susan Richardson, director of marketing; Barry Trexler, SVP of sales & marketing and Hugh Bleemer, president of ChaseHealthAdvance.

Background
ChaseHealthAdvance helps patients overcome the financial barriers associated with elective procedures not covered by insurance. It does this by providing patients with no-interest and extended-payment financing plans. The organization's commitment to advocacy can be seen in its No Surprise financing. ChaseHealthAdvance strives to make the entire financing process transparent by providing easy-to-understand product terms and disclosures for practices and their patients. The goal is to ensure nothing catches patients off-guard when they elect to finance their health care through ChaseHealthAdvance. With this clear and simple process, the satisfaction patients experience during treatment from their provider can extend to the repayment process as well.

As part of their commitment to practices and their patients, in the upcoming months, ChaseHealthAdvance will roll out a suite of new updates and features. With a commitment to continued innovation and provider servicing, ChaseHealthAdvance gathered input from doctors and office staff to help develop these new processes. These changes will include broad updates to practice and patient materials, and Web sites that will make the financing process even easier.

Committed to Providers
ChaseHealthAdvance is designed to be effortless for providers to implement. Enrolling is easy and quick. There are no enrollment fees, monthly minimums or required equipment to buy or lease. Practices simply sign a provider agreement and select the payment plans that will best serve their patients. Within days, the provider receives a welcome kit with all the required information and materials to get started.

A highly trained and knowledgeable practice consultant is assigned to every practice. These ChaseHealthAdvance consultants work closely with the doctors and their staff to ensure they are fully prepared and confident in presenting and processing financing options for their patients. Consultants maintain an ongoing relationship with the practice. Should a practice have a question or new concern, practice consultants are always available by phone and e-mail.

One aspect of the consultant's responsibilities is to help identify opportunities where new ChaseHealthAdvance services can help the practice improve its business. The consultant can also introduce the practice to other ChaseHealthAdvance products that could add value to the practice, such as business credit cards, equipment financing and merchant processing services. ChaseHealthAdvance also provides numerous marketing tools to help practices communicate the affordability of financing to their patients. Ready-to-upload Web banners are available for the practice's Web site. Patients can click on the banners to immediately apply for financing directly from the practice's site. ChaseHealthAdvance also has tools to help practices and patients determine the best financing options. There's a downloadable payment calculator to help patients find a payment plan that works for the family budget and understand the affordability of financing through ChaseHealthAdvance. It also has a full set of co-branded letter templates, which providers can use when sharing financing information with their patients.

ChaseHealthAdvance has sponsored the printing of a wide variety of resource guides, written by top professionals in the health-care industry, for providers who wish to continue their education and make the most of their practice. These guides cover topics such as treatment innovations, practice management and marketing information. All are available to ChaseHealthAdvance providers for download online.

Through the ChaseHealthAdvance Web site, practices can manage their entire patient financing portfolio with no surprises. HealthAdvance-Online.com lets doctors and office staff submit new patient transactions quickly and easily, track current open accounts and even produce custom reports. Coming soon, HealthAdvance-Online.com will also feature a new user interface and streamlined processes to make every aspect of practice administration easier.

Advantages of Using ChaseHealthAdvance
ChaseHealthAdvance is a great financing option for practices that haven't offered third-party financing in the past, as well as practices that have traditionally relied on in-house financing.

Some practices that have a good cash-paying client base might not see the need to extend credit to patients, but many ChaseHealthAdvance providers report an increase in patient acceptance after offering third-party financing. It has been shown that patients will simply walk away from treatment or choose not to seek treatment because the perceived cost is too high for them. Third-party financing from ChaseHealthAdvance allows practices to offer affordable financing options and treat a broader range of patients.

ChaseHealthAdvance is also a great solution for practices that currently use in-house financing. While ChaseHealthAdvance providers do pay a small service fee, third-party financing can help reduce a practice's overhead. With in-house financing, dentists (and other health-care providers) spend a significant portion of their budget on financing administration and implementation costs. By outsourcing patient financing, practices allow ChaseHealthAdvance to take over these duties, freeing up front-office staff to focus on the practice's core business – providing care to patients.

ChaseHealthAdvance takes responsibility for administrating patient repayment of health-care transactions. The practice receives its funding for treatments deposited directly into its account, often in as little as 24 hours after the transaction. This can greatly improve a practice's cash flow and allow for greater flexibility to reinvest in the practice. Another key benefit of using ChaseHealthAdvance and removing the dental practice from the repayment process is that patients will be less likely to skip or delay follow-up treatments because of an inability to pay. This can help avoid unnecessarily lengthening the treatment process.

Practices using ChaseHealthAdvance can also expand their treatment offerings and implement the latest technologies. Patients considering advanced treatments can do so with less worry when they use ChaseHealthAdvance financing and spread the treatment cost out over time with affordable monthly payments.

The ChaseHealthAdvance Difference
Unlike other third-party financing companies, ChaseHealthAdvance is backed by a name that businesses and patients know and trust. As one of the world's leading banks, Chase has the capital resources, the infrastructure and the customer service capabilities to serve dental practices and their patients.

ChaseHealthAdvance's No Surprise financing is an open, honest commitment to the patient. Financing terms are clearly stated. Payment schedules are listed openly, and there is never a large surprise payment, so patients know what to expect, from the first payment to the last. No Surprise financing ensures patients know exactly what they're agreeing to before they sign.

ChaseHealthAdvance has a broad range of No Surprise financing options. For the dental market, patients can choose a no-interest repayment plan of 6, 12, 18 or 24 months, or, for some procedures, an extended plan as long as 48 months. With generous credit lines and no down payments, patients can finance up to 100 percent of the cost of treatment and afford even the most comprehensive treatment plans.

ChaseHealthAdvance also allows patients to reuse their credit lines for anyone in the family (even the family pet). The funds can be used for any procedure performed by a ChaseHealthAdvance provider nationwide, including vision, orthodontic, hearing, cosmetic, chiropractic and veterinary care. It's easy to find additional providers by using the Web site's Provider Locator feature. Patients simply choose the type of provider they need and enter a zip code to find providers nearby. Once they choose a doctor, patients can apply and inform the practice of their ChaseHealthAdvance status, and the practice can then look up the account, and schedule the desired procedure.

In the upcoming months, ChaseHealthAdvance will begin issuing ID cards to all its account holders to make it even easier to get additional care from ChaseHealthAdvance providers. The cards, which remain valid as long as the patient has an open credit line, will allow patients to easily share their ChaseHealthAdvance account information with new practices.

Commitment to Patients
ChaseHealthAdvance continues to make it fast and easy for patients to apply for health-care financing and receive an instant credit decision. Whether patients are applying on their own or through their doctor's office, the streamlined process speeds credit decisions. The clear and simple language in the financing agreement ensures patients will get exactly what they expect and never be surprised by their payments.

ChaseHealthAdvance has an online credit application process that makes it easy to apply for financing right from the dental office. Practices with iPad technology can also use the custom Present and Apply tool for the iPad. This tool allows practitioners to walk patients through the case presentation process in a simple, visual format. The tool helps communicate affordability. It presents the options in a simple, easy-to-understand manner and allows the patient to apply for financing right from the iPad. The application is quick and simple, requiring only basic information from the patient.

If patients prefer, they may also apply from the comfort of their own home or office via phone or online application. The approval process is automated so in most cases patients know their approval status and available credit line within a few minutes. The streamlined application process and quick credit decisions allow practices to more easily schedule treatments and perform procedures in a timely manner.

MyChaseHealthAdvance.com
This patient-focused Web site provides ChaseHealthAdvance patients with fast and easy 24/7 access to their accounts. Patients are able to manage all aspects of their ChaseHealthAdvance account from a secure login portal. They can check account balances, view available credit, set up automatic account alerts and even make payments from the comfort of their home or workplace. Patients can also contact a customer service representative through a toll-free number with any questions they might have.

Learn More
Now in its seventh year, ChaseHealthAdvance provides patient financing for health-care professionals across the United States. One reason for the organization's success is its dedication to continually improve the relationships and products offered to practices and patients.

To learn more about ChaseHealthAdvance financing options, visit AdvanceWithChase.com or call 888-388-7633 to speak with a practice consultant.

A legal message from ChaseHealthAdvance: The information found above is educational material for you, a business entity, and not for your patients to view. Distribution or solicitation of business from your patients using this material, directly or indirectly, is not permitted.
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