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In the wake of growing demand for patient financing, and the limitations of traditional options, in-house financing has emerged as a viable alternative. 

But What Is In-House Financing, Exactly?

Well, if you’re wondering ‘what does in-house financing mean’, here’s a quick overview: within in-house financing, providers offer patients the opportunity to cover their expenses through convenient monthly payment arrangements directly facilitated by them. This can be accomplished by integrating flexible payment plans into the payment options by teaming with a payment plans facilitator like Denefits. This helps streamline the process while keeping the provider as the direct point of contact for the payment options.

Ease the Burden of Hefty Medical Bills with Our Healthcare Payment Plans

Why the Sudden Surge in Interest?

Well, besides the alarming rate at which healthcare costs are increasing, lack of insurance coverage, and ineligibility for traditional loans, here are a few reasons:

  • Flexibility in tailored financing solutions.
  • Quick approval process accelerates cash flow.
  • Builds stronger customer relationships, fostering loyalty. 
  • Higher approval rates expand the patient base.
  • Generates additional revenue through interest income.
  • Sets practice apart, offering a competitive advantage. 

Let’s dig deeper into the advantages of in-house financing for both patients and providers. 

Benefits of In-house Financing: Patients and Providers

BenefitsPatients Providers
Access to careEnables timely intervention for health issues by reducing cost barriers and allowing patients to afford necessary treatments and procedures.Attracts more patients who may have financial constraints, increasing patient volume and revenue, and enhancing the overall health of the community. 
Financial flexibilityProvides flexible payment options, alleviating the burden of large upfront costs and allowing budgeting for healthcare expenses. Ensures a steady cash flow with regular payments, minimizes dependence on third-party payers, and reduces the risk of bad debt and non-payment. 
Patient loyalty Fosters a sense of loyalty among patients and encourages repeat visits and referrals by improving overall satisfaction and experience.Builds long-term relationships with patients, and enhances the reputation of the facility, and gives providers a competitive edge in the healthcare market. 
Revenue CollectionAccelerates the collection of payments by minimizing delays in receiving reimbursements, improving overall financial stability for patients. Reduces the time and effort spent on billing and enables quicker reinvestment in facilities and services, improving financial performance and sustainability, 
Tailored Financial Plans Allows customization of payment plans based on individual needs, accommodating varying financial situations, and reducing the likelihood of default payments. Provides flexibility to create tailored financing options, adapting to the diverse financial backgrounds of patients and increasing patient compliance with payment plans. 

But how does it compare to traditional bank financing options? Let’s look into it for a fairer understanding. 

In-house Financing VS Bank Financing

AspectIn-House Financing Bank Financing 
Source Provided directly by the healthcare provider/facility.Offered by banks or financial institutions.
Approval Process Often easier and faster with less stringent criteria. Typically involves a formal application process. 
Interest Rates May vary, often higher than bank rates.Generally lower, spending on creditworthiness. 
Down Payment May require a lower down payment or none at all.Usually requires a down payment. 
FlexibilityMay offer more flexibility in terms and repayment.Terms and repayment structures are typically fixed.
Credit Requirements May be more lenient, especially for individuals with poor credit. Typically requires a good credit history and score. 
Collateral May or may not require collateral. Often requires collateral, such as property or assets. 
Accessibility May be more accessible to individuals with lower credit scores or financial hardships. Typically accessible to individuals with good credit scores. 
Repayment Terms Often structured to suit the individual’s financial situation. Fixed repayment terms and schedules.
Customer ServiceDirect interaction with the healthcare provider’s financial department. Customer service provided by the bank or financial institution. 
Default Consequences Consequences may be less severe, such as rescheduling payments or renegotiating terms. Default may result in repossession or legal action. 
Specialized ProgramsMay offer specialized programs for healthcare expenses, such as medical loans or payment plans. May offer specific healthcare financing options, but generally less specialized. 

Is in-house financing the only option? Absolutely not. However, the alternatives might not always suit your circumstances or best interest. Let’s go over them quickly.

Alternatives to In-House Financing

Alternative Description
Traditional Bank Loans Loans obtained from banks or financial institutions, typically offering competitive interest rates and fixed repayment terms. Require a formal application process and a good credit score. 
Personal LoansUnsecured loans provided by banks, credit unions, or online lenders. Can be used for various purposes, including healthcare expenses. Interest rates and terms vary based on creditworthiness. 
Medical Credit CardsCredit cards, specifically designed for medical expenses, often offer promotional financing options such as zero-interest periods. Can be used by healthcare providers within their network.
Health Savings Accounts (HSAs)Tax-advantaged savings accounts used to pay for qualified medical expenses. Contributions are tax-deductible, and withdrawals for medical purposes are tax-free. 
Flexible Spending Accounts (FSAs) Employer-sponsored accounts that allow employees to set aside pre-tax funds for medical expenses not covered by insurance. Funds must be used within the plan year. 
Crowdfunding Online platforms where individuals can raise funds for medical expenses by soliciting donations from friends, family, and the public. Common for cases of significant medical needs or emergencies. 
Negotiated Payment PlansDirect negotiations with healthcare providers for installment payment plans. Terms and eligibility may vary based on the provider’s policies and the individual’s financial situation. 
Government Assistance ProgramsVarious government programs provide financial assistance for medical expenses, such as Medicaid for low-income individuals and families, or Medicare for seniors and disabled individuals. Eligibility criteria apply.

In-house Financing vs Traditional Loans: Which Is Right for You?

Well, that's more of a personal decision. And it should be an easy one now that you know the answers to 'how does in-house financing work', 'how to offer in-house financing', and 'how to set up financing for your patients'. Additionally, here are a few points to consider: 

Provider's Point of View (POV):

  • How does in-house financing workIn-house financing offer flexibility and speed, while traditional loans involve more paperwork. 
  • In-housing financing allows tailored terms, while traditional loans offer fixed structures. 
  • Providers retail control with in-house financing, unlike traditional loans which may impose constraints. 

Patient's Point of View (POV):

  • Traditional loans offer transparency and clear expectations, unlike in-house financing which may vary in terms, however, these terms could prove more advantageous.
  • In-house financing can be more accessible for patients with limited credit history, offering an alternative to traditional lenders. 
  • Traditional loans provide security through collateral whereas in-house financing may offer more lenient terms.

How Does In-House Financing Work?

Imagine this: a patient inquires about a surgery, say one that is not covered by insurance. Now, upon deliberation, they realize that their savings may not cover the cost.

Additionally, a traditional loan may not seem feasible, either due to ineligibility or high rates of interest. In this case, instead of turning the patient away, you can offer them in-house financing - an option to pay in manageable monthly installments instead of a lump sum amount. Here's how it works: you can either look for options, say 'third-party financing for my customers', or do it independently through a payment plans facilitator like Denefits.

When Does In-House Financing Work?

In a lot of scenarios, in-housing is the best, or even the only option for patients. To state two: 

  • In cases where a patient has a low credit score or doesn't have a good credit history, and resultantly, is not eligible for traditional loans. 
  • In cases of emergency, when the patient might not want to wait around for a financing company to undergo a procedure or treatment. 

How to Set Up Financing for Your Patients With Denefits?

  • Partner with Denefits: Contact Denefits to establish a partnership. Understand the terms, including interest rates and repayment structures.
  • Integrate Denefits Payment Plans: Seamlessly add Denefits Payment Plans to your payment options. 
  • Customize Payment Plans: Choose from the various payment plans options Denefits offers keeping your patients' needs, practice's goals, and repayment terms.
  • Promote Payment Plans: Once the payment plans are established, market them through various channels, highlighting benefits like accessibility, competitive rates, and flexibility. 
  • Manage Payment Plans: Keep track of all your payment plans effortlessly, ensuring timely payments and providing support to customers.

How to Offer In-house Financing?

If you've already decided on in-house financing and are wondering 'how do I start offering financing to my customers/ patients', the answer is easy: integrate it alongside your other payment options. Yes, you can offer payment plans through Denefits or any other leading facilitator as a payment option. That's not it, you can directly make this option available on your website. Not only does this encourage potential patients to book an appointment, but may also be the reason they choose you over your competitors.

Additionally, ensure you highlight in-house financing or patient payment plans in your advertising and communication. For instance, if you offer payment plans through Denefits, you can promote their NO Credit Check Policy, fast approval process, 95% Approval Rate, multilingual support and flexible payment options. This can also act as a significant differentiator for your practice. 


There's no need to lose hope when insurance fails to cover a healthcare service and traditional financing options fall short. Enter in-house financing: a promising solution in the healthcare industry, offering patients the flexibility and accessibility while providing providers with increased financial stability and patient satisfaction rate. Whether through partnerships with facilitators like Denefits, or through third-party intervention, in-house financing presents a viable option to address the evolving needs of patients and providers alike.