The new payment gateway is first-to-market, without interest, alternative patient financing solution for medical services, under which patients can avail from $500 to $5,000 with three, six or 12-month repayment plans.
PAI vice president of national accounts Nathan Danus said with the recent announcement from Chase Health Advance that they have discontinued new financing for patients.
"And as lending networks narrow and credit becomes more difficult to obtain, healthcare providers have fewer options to offer patients who need to finance medical care," Danus added.
"Our unique partnership can increase case acceptance for medical providers, while establishing affordable payment plans for patients to obtain the care they need."
Under the CheckPay facility, an applicant’s cheque writing history is reviewed and approved if there is no record of bad check writing.
After approval, patients will have to make a 20% down payment, and healthcare providers are paid for the entire services amount up front and payments are automatically deducted from patients’ checking accounts with no collection burden placed on healthcare providers.
