Splitit Links Up with DOCPAY to Streamline the Billing Process for Medical Practices

June 2, 2016         By: Mike Dautner

Splitit, an interest-free installment payments technology, announced today a union with DOCPAY, a leading US financial service company focusing on healthcare payments.

Splitit, known as an interest-free financing solution offered on patients’ existing credit cards (Visa & MasterCard), will now be accessible to over 50,000 patients in the DOCPAY network. Splitit’s one-of-a-kind system allows practices to set up payment plans with payments guaranteed by the patients’ already existing credit line, resulting in the assurance of no defaults on patient accounts.

Splitit Healthcare will be made available throughout DOCPAY’s network—including dental practices, LASIK surgeons, obstetricians, med spas, family practice, as well as other physicians.

This payment management system is exactly what the doctor ordered as far as medical practitioners and patients are concerned.

With this financing solution, patients are able to choose monthly payment installments on their existing credit cards, making medical charges more conducive to budgeting, while also eliminating the costly interest rates often tied with medical financing.

Pay medical bills can be a terribly stressful prospect for some people, with Splitit’s solution, patients will feel more secure knowing they can properly manage their payments.

“We are thrilled to partner with DOCPAY to provide patients with an alternative financing option that allows them to easily and affordably manage their medical costs while simplifying the billing process for medical and dental practices,” said Alon Feit, CEO of Splitit. “Our technology is based on a successful system of interest-free installments that has been around for decades in six countries, and we plan on making this financing option widely available in the US as well.”

DOCPAY has worked diligently with doctors across the U.S. for over 30 years and has aided over 1,000 healthcare offices with a wide range of financial services.

“At DOCPAY, our customers are our main priority and assisting in the financial success of their practices is reflected in everything we do. Splitit is a financing option that we think makes a lot of sense both from the patient side, as well as from the business side of practices. By utilizing Splitit technology, DOCPAY can now offer payment plans that feature payments that can’t be declined, without having to pay expensive discount fees to patient finance companies,” said Ron Barnett, CEO of DOCPAY.