Geisinger’s AI-Enabled Payment Plan Lets Patients Set Their Terms

Hoping to prevent patients from delaying or not getting needed care, Pennsylvania-based Geisinger has introduced a customizable zero-interest artificial intelligence (AI)-enabled payment plan for out-of-pocket medical expenses.

Partnering with fintech startup PayZen, Geisinger is deploying the system to give patients a customizable approach to medical billing. Patients have the power to select zero-interest payment plans for balances that exceed $250 after insurance payments. Balances can be paid over a timeline of the patient’s choosing.

An AI-based algorithm analyzes financial data from more than 30,000 patients to determine how much they are able to pay monthly. Patients can complete payments in 60 months instead of the traditional timeframe of 12 to 18 months. The information is then merged with provider data to adjust payments based on the likelihood patients will need additional treatment.

Early indications are that the program appeals to patients. During the rollout, 82% of patients enrolled after receiving their customized monthly payment plans, with an average monthly payment of $52. Geisinger and PayZen state that they are enrolling hundreds of patients in the program each month.