BLIS, a privately held company pioneering a new type of insurance based on the surgeon centric model, partnered with American HealthCare Lending.
The two are partnering on BLISPay, a patient financing option for expenses related to orthopedic surgeons for BLIS-approved surgeons.
"With the changes brought on by the Affordable Care Act, we've seen patient responsibility reach all time highs and deductibles increasing at a faster pace than ever before," said American HealthCare Lending President and CEO Shaun Sorenson. "BLIS has been an innovator for years and saw this opportunity to provide more options and better service to their customers."
Here are five things to know about BLISPay:
1. The partnership establishes a low monthly payment plan for orthopedic procedures costing $2,000 to $100,000.
2. Patients can fill out an online application that shows their eligibility immediately. When the patients are approved, they can receive funds within five days or more.
3. American HealthCare Lending has competitive interest rate sand long terms, which allow for the low payments. No money down is required and patients don't need collateral.
4. There aren't any penalties for prepayments.
5. BLSCare insures surgeons who then protect their patients against additional medical costs if a complication occurs during the orthopedic procedure. BLSCare is now in select markets for orthopedic surgery.
"As the surgery market continues to evolve with more and more out-of-pocket financial responsibility resides with patients," said BLIS CEO Regi Schindler. "Now with our BLISPay lending program we can assist them with upfront costs."