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Commerce Bancshares, Inc. acts as a super-community bank that provider a number of financial products and services to individuals, small businesses, and large corporations. While healthcare financing on an individual level is a service Commerce Bank provides, it is far from the only financial service that they provide. They place an extra level of focus on asset quality and expense management but their full range of financial products to consumers and commercial customers include: lending, payment processing, trust, brokerage, and capital market services.
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Commerce Bank's Health Services Financing (HSF) serves as a complement or alternative to traditional medical billing programs where needed. Their healthcare funding program comes with a line of credit that allows for customizable solutions that patients and their families can utilize at any point in the revenue cycle.
Benefits of utilizing Commerce Bank includes the increases in cash flow, the reduction of costs, and stress-free transactions for patients. These features allow for patients to pay for procedures and other healthcare needs in a seamless fashion.
How does Commerce Bank improve cash flow and reduce costs?
How does Commerce Bank foster a stress-free transaction process for patients?
An account with Commerce Bank HSF reassures patients with an easy enrollment process and simple payment structure.
While there are a number of determining factors that will go into the exact loan terms, Commerce Bank does disclose some of their program rate options, interest information, and term lengths. There are multiple low rate program options to choose from, but Commerce Bank also offers tiered options based on the medical dollar amount. The term for repayment is automatically assigned based on the financially responsible party's balance due.
Interest rates for tiered options are broken down as follows:
As stated previously, the term length will be automatically assigned based on pre-determined factors. The terms vary in length ranging from:
Since there are a number of qualifiers and standards for loan options and terms, it can be difficult for an individual patient to determine just how much interest they are likely going to need to pay back. Additionally, it is also difficult for the patient to determine how long they are going to have to pay their loan back. These unknowns can cause some problems for those worried about repayment for their medical endeavors.
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Great experience with Commerce Bank! Customer Service is fantastic and they seem to really care about you.