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OxyCare Advantage Instant Patient Financing
May 11, 2017
Introducing OxyCare Advantage: Patient Financing to Increase Cash Sales!
It has become apparent that a DME supplier can no longer survive while being dependent on Medicare for fee-for-service. With competitive bidding, stringent documentation requirements, lower reimbursement, post-payment audits, tightening Medicare purse strings—Medicare fee-for-service should only be a component of the supplier’s total income stream. There are 78 million baby boomers (people born between 1946 and 1964); they are retiring at a rate of 10,000 per day and are accustomed to paying for things out-of-pocket. The successful DME will be focused on selling upgrades and selling items for cash.
To help providers in this changing market, and to allow patients access to the best POC in the market, OxyGo is proud to introduce OxyCare Advantage™. OxyCare Advantage is a revolutionary patient financing program for the Home Healthcare Market: Patients can own their equipment with monthly payments, and Providers can get the cash for the equipment immediately! OxyCare Advantage has partnered with a leading financing company to bring providers a consumer level financing experience for enhancing patient cash sales.
Our surveys show that thousands of POC cash purchases are foregone due to lack of availability of patient payment plans, OxyCare Advantage projects that POC sales will increase by 20% for Providers offering the program.
What is OxyCare Advantage?
OxyCare Advantage is a fixed-term loan for patient purchases of $1,000 to $10,000, where patients can pay over months and providers get paid in 24 hours. OxyCare Advantage can be use to finance not only the OxyGo family of POCs but any home healthcare equipment at a participating provider. There is no cost to the provider to sign up for OxyCare Advantage!
How Does OxyCare Advantage Work?
- The patient completes application.
- The completed application is turned into the provider and is called-in or faxed to OxyCare Advantage’s finance partner directly.
- OxyCare Advantage’s finance partner informs the Provider of the loan approval for the patient.
- The Provider completes the contract with help from OxyCare Advantage’s finance partner.
- The patient signs the contract.
- The Provider sends signed application, contract and the itemized invoice for the OxyGo unit and any accessories to OxyCare Advantage’s finance partner.
- OxyCare Advantage’s finance partner pays the Provider on the contract within one business day.
Looking for more information? Contact us at 440-424-5845 or financing@oxygo.life.
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