In today’s world, healthcare costs are rapidly increasing, and many people find it challenging to pay their medical bills. MedZERO, the world’s first mobile lending platform dedicated to serving the healthcare industry, has emerged as a solution to this problem. MedZERO is a startup that helps people pay for their medical bills with zero interest and zero fees. It enables employees to pay out-of-pocket medical bills without incurring high credit card interest or 401k loan fees. This Company Showcase will explore how MedZERO is revolutionizing healthcare financing with mobile lending.
Financing Healthcare through Mobile Lending
MedZERO is a mobile application that provides employees of participating businesses immediate access to funds to pay medical costs. The app offers a pre-paid virtual MasterCard that can be used to pay for medical expenses at any healthcare provider that accepts MasterCard. Employees can repay the amount over 12 months, with the repayment amount automatically deducted from their paychecks.
The platform was developed through a joint venture between Sortis Holdings, a Portland-based holding company, and Mobile Capital Group, a Kansas City-based fintech company. The platform provides a national loan servicing platform and a payments technology that supports millions of lending transactions used by some of the nation’s largest payroll providers.
MedZERO’s mobile lending platform is not only an innovative solution to healthcare financing, but it also offers many advantages to both employers and employees. Employers can offer MedZERO as a voluntary benefit to their employees at no cost. It not only helps employees pay for medical bills but also helps reduce employee turnover by improving the overall financial health of employees.
Improving Financial Health of Employees
MedZERO recognizes that financial wellness is essential for overall well-being. According to a survey conducted by PwC, 54% of employees report that financial problems cause them the most stress. MedZERO offers employees a way to pay for unexpected medical expenses without having to use high-interest credit cards or other expensive loans. This solution can help employees save money and avoid long-term financial stress.
Moreover, MedZERO provides financial education and wellness tools to employees to help them manage their finances better. Employees can access the platform’s education resources, which include webinars, articles, and financial planning tools, to improve their financial literacy.
Empowering Healthcare Providers
MedZERO’s mobile lending platform not only benefits employees but also empowers healthcare providers. The platform enables healthcare providers to collect payments quickly and easily, reducing the need for billing and collections staff. Healthcare providers can offer the option of using MedZERO’s virtual MasterCard to pay for medical expenses, increasing the speed and efficiency of payment collection.
MedZERO’s platform also offers healthcare providers a way to help their patients manage their medical bills better. Providers can promote the platform to their patients, giving them access to a financing solution that is convenient, fast, and affordable.
In conclusion, MedZERO is revolutionizing healthcare financing with its innovative mobile lending platform. The platform offers an affordable and convenient solution for employees to pay for medical expenses without incurring high-interest debt or fees. By providing financial education and wellness tools to employees, MedZERO is helping improve their overall financial health. The platform also benefits healthcare providers by streamlining payment collection and improving the patient experience.
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