DALLAS–(BUSINESS WIRE)–FinTech pioneer SmartHealth PayCard, LLC™ makes history with the national launch of its patented SmartHealth PayCard™ Mastercard® credit card — a financial cure for healthcare.
The SmartHealth PayCard is designed for healthcare providers to be paid in full with no fees, payment plans or recourse. It is the first and only credit card restricted to healthcare, making it easier for consumers to manage their health expenses so they can pay whenever needed.
Medical expenses cause millions of Americans to skip treatments and preventative care, while far too many worry that a major health event will bankrupt them. According to the Commonwealth Fund, 41 percent of working-age people have medical bill problems or are paying off medical debt. SmartHealth PayCard seeks to change this unacceptable cycle by empowering all Americans to better manage healthcare costs so they and their families can live healthier and happier lives.
SmartHealth PayCard provides cardholders with affordable payment choices and remarkable benefits, such as $5,000 Accidental Medical Expense coverage, making planned and unplanned health expenses more affordable and ensuring healthcare providers get paid immediately.
“Americans deserve peace of mind, not financial burden from skyrocketing medical expenses,” says Jeff Blankinship, a healthcare expert and the co-founder of SmartHealth PayCard. “It’s a win-win solution – cardholders pay for their health needs right away and their healthcare providers get paid on-time, so they can focus on treating patients instead of accounts receivable.”
According to the Healthcare Financial Management Association, hospital bad debt increased by $617 million to nearly $56.5 billion between 2015 and 2018. With the SmartHealth PayCard, patients have credit solutions that enable them to pay for high deductibles, co-pays, medications, procedures, preventative care, emergencies, dental, mental health, hearing, vision, and more. Providers that include SmartHealth PayCard in their business strategy can add discounts to attract more patients while better serving existing ones.
SmartHealth PayCard moves beyond existing financial options — there is no fee for healthcare providers and patients enjoy a revolving credit line at substantially lower terms, making SmartHealth PayCard an optimal choice.
“The SmartHealth PayCard offers an independent financial solution, separate from regular health insurance,” says Paul Clampitt, insurance expert and co-founder of SmartHealth PayCard. “We want to see cardholders take control of all their healthcare expenses so they can make sensible decisions about their medical needs.”
SmartHealth PayCard is also uniquely positioned to augment the employer-driven healthcare economy, as 151 million Americans – about 1 in 2 of us – rely on healthcare coverage through an employer-sponsored health benefit plan.
“Healthcare costs for our employees is one of our largest operating expenses, so we are excited about the SmartHealth PayCard,” says Randy Murphy of Murphy Adam’s Restaurant Group in Austin with 800 employees. “We have a vested interest in the wellbeing of our staff and want to offer them financial solutions for their everyday healthcare expenses.”
SmartHealth PayCard’s complete solution includes a revolving line of credit with instant access upon approval, a cardholder website with secure online tracking and record keeping, and text and email account alerts.
SmartHealth PayCard looks forward to introducing exciting new features, including discounts and rewards as well as a mobile app, onto the card in the coming months as it expands its role as a financial cure for healthcare.
About SmartHealth PayCard, LLC
SmartHealth PayCard seeks to empower individuals and families with financial solutions and resources to simplify direction of care and healthcare expenses.
The team at SmartHealth PayCard has extensive experience in healthcare, insurance, government regulations, and finance. We seek to introduce transformative change to healthcare that benefits patients, healthcare providers, and society at large.