Offering a health and wellness credit card provides a patient-friendly payment option

How do you help healthcare organizations navigate the biggest challenges in healthcare? 

With rising out-of-pocket healthcare expenses, consumers are seeking better ways to pay for care and an improved patient financial experience. Synchrony’s CareCredit health and wellness credit card addresses these needs by providing a trusted payment solution, to help pay for healthcare costs.^[1] This patient financing solution also benefits healthcare organizations by ensuring they receive payment for services within two business days, without any financial liability if a patient delays or defaults on their payment.^[2]

CareCredit helps reduce accounts receivable and provides financing options so patients can seek out the care they want or need. Patients can use CareCredit at any participating network locations, including at their general practitioner, dentist, optometrist, audiologist and other physician offices.

What advice would you offer to healthcare leaders when choosing among vendors? 

Healthcare leaders should consider seeking vendors that prioritize a consumer-centric approach in their business solutions and can act as valuable resources for patients. When considering third-party financing or patient payment solutions, the vendor should recognize the value of providing patients with a positive payment experience. These values may help healthcare organizations navigate the changing payment landscape more effectively.

What are the benefits of offering solutions with digital integrations for providers and their patients?

CareCredit offers digital solutions that providers can use to do things like communicate financing options, see if their patients are existing CareCredit cardholders and process payments. These solutions also benefit patients who can learn about financing options, see if they prequalify for CareCredit, apply or pay online or from their smart device, and make it easier for patients to pay on time from the comfort of their own home or on the go.

Healthcare organizations that join the CareCredit network can take advantage of various tools, such as on-demand training, a secure online provider portal, marketing materials, easy-to-implement QR codes and guidance from a dedicated account manager. This comprehensive support helps ensure a smoother transition. 

Quick Facts

• 5 years on the Short List
• In the 2023 HFMA Peer Review Survey, 100% of survey respondents agree or strongly agree that CareCredit satisfies a need in the industry.

About CareCredit

The CareCredit health and wellness credit card is a financing solution patients can use to pay deductibles, co-pays, and costs not covered by insurance. With CareCredit, patients can pay over time with convenient monthly payments and providers get paid in two business days. CareCredit has helped patients get the care they want and need for 30+ years. Today, there are millions of CareCredit cardholder accounts. To add CareCredit call 844-365-3207 or visit carecredit.com/hfma. 

To learn more about HFMA’s Peer Review program, visit hfma.org/peerreview

^[1]. Subject to credit approval.

^[2]. Subject to the representations and warranties in the Agreement with Synchrony.