How banks and hospitals are cashing in when patients can't pay for health care

Many hospitals are now partnering with financing companies to offer payment plans when patients and their families can't afford their bills. The catch: the plans can come with interest that significantly increases a patient's debt. (sesame/Getty Images)

Patients at North Carolina-based Atrium Health get what looks like an enticing pitch when they go to the nonprofit hospital system's website: a payment plan from lender AccessOne. The plans offer "easy ways to make monthly payments" on medical bills, the website says. You don't need good credit to get a loan. Everyone is approved. Nothing is reported to credit agencies.

In Minnesota, Allina Health encourages its patients to sign up for an account with MedCredit Financial Services to "consolidate your health expenses." In Southern California, Chino Valley Medical Center, part of the Prime Healthcare chain, touts "promotional financing options with the CareCredit credit card to help you get the care you need, when you need it."