City National Bank (https://www.cityholding.com) has established a special financing program for health care providers who purchase or upgrade electronic health record systems or have other HIT needs. City’s program provides ease of paperwork, competitive interest rates, and local decision making. For more information, please contact Tammy Hale at (304) 347-2428.

Click to see loan application.

The Center for Rural Health Development, Inc. (http://www.wvruralhealth.org) has financing available through its Loan Fund to assist West Virginia’s physicians and other health care providers implement Health Information Technology (HIT) or Electronic Health Records (EHR). The Center’s HIT/EHR lending initiative works to assist physicians and other providers whose goal is to position their medical practice to achieve the “meaningful use” standard and thus benefit from Medicare and Medicaid incentive payments to support the cost of their HIT/EHR implementation.

The Center is an experienced HIT/EHR lender having financed HIT/EHR technology for both private physician practices and non-profit community health centers. The Center’s HIT/EHR loans are available to purchase hardware or software and to provide capital needed to support the training needed to successfully implement an HIT/EHR system. Historically, The Center’s loans have been made as a supplement to private banking capital. However, when cost effective bank participation is not available, the Center will independently make loans. The Center has worked with seventeen (17) different West Virginia banks to provide an affordable source of financing for West Virginia’s health care providers.

The Center’s decision-making process for HIT/EHR loans is an efficient process that verifies that the selected technology is appropriately certified. Through the loan review process, the borrower’s financial capacity and credit history will be evaluated. For loan applications of $100,000 or less, properly documented loan requests can be approved within two (2) weeks. Loans in excess of $100,000 can typically be processed in two to four (2 - 4) weeks.

To Request a Loan Application or to discuss your HIT/EHR or other financing needs, please contact Rob Dearing, CFO/Loan Fund Manager at:

The Center for Rural Health Development, Inc.
3465-B Teays Valley Road
Hurricane, WV 25526
Phone: 304-397-4071
E-mail: robert.dearing@wvruralhealth.org
www.wvruralhealth.org