FL: Care Cap Plus to Move Headquarters to Jacksonville
1 Jun, 2021
Care Cap Plus is moving its headquarters from New Jersey to Jacksonville, citing the Sunshine State’s favorable business environment and its strategic importance within the medical financing industry, reports the publication Florida Politics.
Care Cap Plus helps medical practices provide care to patients with low credit scores and helps hospitals get out of the business of chasing down payments from patients. It offers interest-free and fee-free payment plans to patients at participating providers, and Care Cap Plus patients are more likely to repay their medical bills than non-Care Cap Plus patients.
“Relocating our headquarters to Florida is part of our national business growth strategy to have a stronger presence in one of the nation’s most populous and diverse states,” Chief Operating Officer Betsy Giordano said. “Medical debt is crippling patients and driving consumers into bankruptcy, and we are proud to be a solution to that problem that benefits both patients and medical providers.”
The company’s relocation was fueled in part by Florida’s pro-business state tax policies, competitive cost of doing business and friendly business and regulatory environment.
Also factoring into the move was Care Cap Plus’ desire to grow business in the Southeast, one of the fastest growing regions. Care Cap Plus currently works with medical practices and hospitals in 15 states, including the nation’s four largest states — California, Texas, Florida, and New York — as well as Southeastern states Georgia, Mississippi, and South Carolina.
Care Cap Plus offers providers 30% of the cost of a patient’s procedure upfront with the balance paid through equal installments, which ensures manageable payments to customers and reliable cash flow to providers. The payment plans aren’t inflated with fees or interest and are available to patients with a credit score as low as 400.
In Florida, 1 in 4 people have put off a medical procedure because of a high deductible or affordability issue, and 1 in 5 struggle with medical debt. Care Cap Plus provides a way for patients to pay for medical procedures and services without going into debt, using a credit card, or taking out a loan.
“We created Care Cap Plus to meet a real need — a healthcare finance solution without ‘gotcha’ fees,” Giordano said. “Clearly that benefits patients, but it also benefits medical practices by building loyalty, referrals, and return business and growing the practice by extending care to patients who otherwise couldn’t afford it.”
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