How It Works
For Patient:
Step One:
- Provider gives account balance to Patient and asks how the Patient would like to pay the balance today.
- Patient says they can’t or doesn’t want to pay the balance today.
- Patient is directed to apply for financing through Cain Financial Services (CFS)
Step Two:
- Patient completes automated application (online or mobile) and submits
- Lending response is received electronically within 2 minutes
Step Three:
- Documentation is signed electronically by Patient and submitted
- Agreed upon monthly payments are drawn down electronically until loan is paid in full
For Provider:
Step One:
- Provider and CFS jointly define the terms and structure of the program to be offered. These terms and structure are jointly reviewed each quarter to be certain they fit the Provider’s and CFS’s expectations. Adjustments are made on a go forward basis.
Step Two:
- Provider refers Patients that don’t pay their account balance in full to CFS.
Step Three:
- After Patient is approved, Provider receives payment for Patient’s account based on the terms and conditions previously agreed to. Funds are electronically deposited in the Providers account of choice based on the previously agreed upon customized schedule (generally at least weekly but customized to meet Providers needs).
