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Splitit pioneered a method to utilize current credit, allowing patients to benefit from installment payments without acquiring another line of credit. All of this with zero applications, no additional interest, and no costs.
FREMONT, CA: Splitit, the company empowering consumers to use their existing credit to spread payments over time, announced it has integrated with Green Feather and is now available as a payment option in Feather Pay, Green Feather's payment platform that removes friction in healthcare transactions.
Splitit's professional services strategy involves serving the rising market for out-of-pocket healthcare payments as part of the agreement. According to the latest National Health Expenditures data from the Centers for Medicare & Medicaid Services, out-of-pocket spending in the United States alone reached more than $406 billion in 2019.
Healthcare providers using Feather Pay can now seamlessly provide their patients Splitit installment plans to pay for their care utilizing the available credit on their existing credit cards to spread payments out over time. Splitit pioneered a method to utilize current credit, allowing patients to benefit from installment payments without acquiring another line of credit. All of this with zero applications, no additional interest, and no costs.
Patients can use Splitit to combine various payment forms in a single transaction, such as flexible spending accounts (FSA) and healthcare savings accounts (HSA). All of this is offered in a simple user experience that works on any digital device, whether in-person or remotely. Patients now have more options for paying for their care thanks to the collaboration and integration of Splitit's installment capabilities to FeatherPay. As a result of minimizing administrative overhead associated with traditional healthcare billing procedures, practices enhance their cash flow and overall revenue performance.
"Splitit's goal is to meet consumers where they need us the most. Paying for healthcare can be stressful enough, and having to fill out applications for financing just makes it even more trying," stated Splitit CEO Brad Paterson. "Patients can easily select Splitit at the point of care with just a few simple clicks, helping ease the stress, while healthcare providers can focus on delivering exceptional care and patient experiences."