Medifund
Financing for your health care
What is Medifund?
MediFund is an online lending platform that provides fast & simple financing for elective and non-elective medical procedures that patients might otherwise go without due to their out-of-pocket costs. MediFund will support medical professionals within CARICOM countries interested in growing their practice without carrying the risk or administrative burden of patient financing.
Our belief is that the availability of MediFund within these markets can dramatically improve patient
access to healthcare.
The MediFund Concept
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Consumers contemplating a medical procedure whose out-of-pocket costs require financing have limited options and many choose to forgo the procedure and live with the pain and/or inconvenience. MediFund proposes to make specialized loans to these consumers so as to make these procedures affordable and improve their quality of life.
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Medical professionals looking for ways to grow their practice are oftentimes faced with carrying the risk and administrative burden of patient financing to assist with out-of-pocket costs. MediFund proposes to finance this patient growth and assume the related loan servicing burdens so that professionals get paid upfront and healthcare delivery can can proceed quickly.
How Does MediFund Work For Patients?
Consumers will utilize the MediFund Smartphone App to explore loan terms, identify qualified medical practitioners, and initiate a loan application. MediFund envisions a unique “monthly payment slider” that helps borrowers to select loan terms that fit their budget and to understand all the critical loan disclosures necessary to make a smart financial decision. Upon selection of the medical practitioner and related procedure fees, the MediFund App will transact all necessary loan documentation and servicing requirements so that MediFund can issue funds to the practitioner and treatment can begin.
How Does MediFund Work For Doctors?
Medical practitioners will collaborate with prospective patients using the MediFund App to secure upfront payment for the out-of-pocket fees they would otherwise have had to finance themselves. MedifFund envisions an App running on a dedicated iPad that practice staff can use to confirm patient identity and procedure fees so that funds can be released and treatments started. By using MediFund, the practitioner experiences improved cashflow and is freed from the need to collect monthly payments from their patient.
