Patient Financing Options: How One Approval Process Supports Future Care

Patients and clients seeking health and wellness care consider many factors when choosing a provider. Cost is often one of them, whether they’re planning for a high-ticket procedure, managing ongoing treatment expenses or simply wondering how future care can fit into their budget.

Providers can help ease those concerns by offering financing solutions that are designed for different moments in the care journey. A financing partner that provides multiple payment options through one application process can offer patients greater flexibility while helping practices simplify payment conversations.

One Application, More Approvals: More Choice, Clarity and Confidence

With one application, patients or clients may be able to access the CareCredit credit card for ongoing eligible health, wellness and veterinary expenses, CareCredit Pay Later for larger, more defined, care costs or a choice between the two. They can see if they prequalify with no hard credit check, receive a decision in seconds and, if approved, move forward with the care they want and need.

Together, these options offer patients or clients more ways to pay for eligible care, if approved, while helping providers support different treatment situations through a streamlined experience, and receive funding in two business days.

Potential Benefits of Building an Ongoing Credit Relationship

A financing relationship that extends beyond a single transaction can create lasting value for both patients and providers.

CareCredit Financing Options for Different Patient Wants and Needs

The CareCredit platform is designed to help practices accommodate a variety of patient and client payment preferences by offering both a credit card-based healthcare line of credit and a separate pay-over-time financing option.

Here’s what to know about each option:

How Multiple Financing Options Can Simplify Patient Payment Conversations

Offering multiple financing options through a single application process simplifies payment conversations for patients, clients and staff. Instead of introducing separate financing solutions as a patient’s wants and needs change, practices can start with one financing discussion and explain the available options from the beginning. This helps create a more consistent, streamlined experience throughout the patient journey.

For patients and clients, that could mean greater confidence that financing can support both immediate treatment and future care wants and needs. They can better understand the options available and, if approved, choose the approach that aligns with their budget and treatment plan.

The National Patient Advocate Foundation recommends discussing health and wellness costs throughout the patient journey so patients have time to understand their options and make informed decisions.² Presenting financing as one part of the overall care discussion can help patients feel supported rather than pressured.

How to Explain CareCredit Financing Options to Patients

When explaining how the single application process works to patients and clients, emphasize how it can benefit them. Try statements like: “Let’s look at a few ways to pay for care to help you make a more informed decision.”

From there, you can illustrate the different pathways to show which one might best match the type of care they are seeking:

• For ongoing care needs. The CareCredit credit card offers special financing and reusable credit that can be used again and again.
• For a defined plan or bigger cost. CareCredit Pay Later is a one-time-use installment loan with fixed monthly payments and a defined payoff timeline.

Supporting Long-Term Patient Relationships

A patient’s health and wellness wants and needs rarely happen all at once. A patient or client may come in for one procedure today, return for follow-up care months later and require additional treatment years down the road. Offering financing that can adapt alongside those moments helps them feel prepared for whatever comes next.

The journey begins with prequalification and a streamlined application process that provides an instant credit decision. From there, eligible patients or clients may be able to explore multiple financing solutions, if approved, based on their wants and needs. At the same time, practices may benefit from a faster, more efficient financing experience and more approval opportunities to help patients and clients say yes to care.

By offering patients and clients access to multiple financing options through a single application process, practices can simplify payment conversations today while supporting long-term relationships built on trust and transparency.

Offer Flexible Financing at Your Practice 

If you are looking for a way to connect your customers with options that empower them to pay for the care they want or need, consider offering CareCredit as a financing solution. CareCredit offers individuals two ways to pay for out-of-pocket health and wellness expenses over time — the CareCredit credit card or a CareCredit Pay Later loan — while helping enhance the payments process for your practice or business.*

When you accept CareCredit, patients or clients can see if they prequalify with no impact to their credit score, and those who apply, if approved, can take advantage of special financing on qualifying purchases.* Additionally, you will be paid directly within two business days.

Learn more about CareCredit as a financing solution or start the provider enrollment process by filling out this form.

Author Bio

Dawn Papandrea is a journalist with more than two decades of experience covering personal finance and consumer issues. She has written for leading financial publications and organizations, including U.S. News & World Report, Investopedia, Bankrate and others.

Healthcare payment and financing solution

The CareCredit health and wellness credit card helps improve the payment experience for patients and clients, and your financial performance.

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