Point-of-Sale Financing in Healthcare: Why It’s Growing Fast

As healthcare costs continue to rise, patients are finding it harder to afford care when they want or need it. Nearly half (44%) of U.S. adults report that it’s difficult for them to pay for treatment.¹ Synchrony’s Healthcare Journey Research Consumers and Providers study reinforces this pressure: 1 out of every 2 patients struggles to pay for out-of-pocket health and wellness expenses, and 1 out of every 2 delays care because of those costs.² Yet demand remains strong: 3 out of 4 consumers say they would seek more health and wellness services if they had ways to pay for them.²

That affordability challenge directly impacts providers’ operations and financial performance. Healthcare providers report that their biggest revenue concern revolves around collecting payments from patients. A full 71% report that it takes more than 30 days after a patient visit to receive payment.³

As a result, more healthcare and wellness practices are turning to third-party point-of-sale (POS) financing. By offering a financing option when it’s time to pay, providers can streamline the payment process, help patients better manage healthcare expenses and remove barriers to care while supporting timely payments.

What Is Point-of-Sale Financing in Healthcare?

Point-of-sale financing is the presentation of financing options at the point of payment, giving a patient or client the ability to pay over time rather than in one lump sum. In your healthcare or wellness practice, offering POS financing may ease payment-related concerns and help patients manage out-of-pocket expenses in ways that fit their budgets.

POS financing can be offered through a third-party provider and may include different product types, such as revolving credit (e.g., a credit card) or an installment loan. These options may come with fast credit decisions, transparent terms and often no need for the healthcare practice or provider to manage billing or collections for financed amounts.

When a patient or client is deciding whether to move forward with a recommended treatment, access to a simple, affordable financing solution like the CareCredit credit card or Synchrony Pay Monthly loan can make all the difference.

Why POS Financing Is Growing in Healthcare

Point-of-sale financing is gaining traction in healthcare and wellness because it helps reduce friction in the patient payment experience by introducing payment options at the moment of decision. Here’s how:

• Reduces payment-related hesitation. When a patient or client says they want to “think about it” before committing to a procedure, there’s a risk they may not return. Offering financing at checkout can remove a payment barrier and provide a clearer path forward — making it easier for them to say “yes” to recommended treatment in the moment.
• Provides digital convenience. POS financing helps meet patients’ expectations for seamless, digital-first experiences. At the same time, practices can still support paper applications and other in-office workflows for patients who prefer them. Consumers are already accustomed to using POS systems and digital payment platforms for everyday purchases, and extending that convenience to healthcare meets them where they are. In a recent survey, 53% of consumers said they would be willing to switch healthcare providers for superior digital offerings.⁴
• Help patients manage the cost of care through flexible payment options. As out-of-pocket healthcare costs continue to rise, patients are looking for more predictable, budget-friendly ways to spread payments over time. In fact, more than one-third of U.S. adults (36%) say that they have skipped or postponed needed healthcare in the past 12 months due to cost.¹ While financing doesn’t change the cost of care, it can help patients and clients budget and spread payments over time, making it easy to fit expenses into their monthly cash flow.

POS Financing Technology Helps Improve the Patient Experience

Modern POS financing solutions are designed to integrate seamlessly into your existing workflows, making the payment process fast, simple and more transparent for both staff and patients.

• Smoother point of payment. A POS financing solution can create a more streamlined experience with less friction and fewer follow-ups. Instead of facing the stress of a large, unexpected bill, patients can set up predictable monthly payments and move forward with care more confidently.
• Mobile application. With mobile-enabled applications, you can make financing accessible and convenient, allowing patients to apply from anywhere and see if they qualify in real time — often with no impact on their credit scores.

Provider Outcomes POS Financing Can Improve

POS financing doesn’t just improve the patient experience, it can also deliver meaningful benefits for providers.

When more patients have access to flexible financing options, practices may see higher case acceptance rates and increased treatment plan conversions. It can also shorten the time to treatment, helping providers fill schedules more efficiently rather than waiting for patients to decide.

Additionally, because a third-party partner manages billing and collections, practices benefit from more predictable payments and less front-desk friction, freeing up staff to focus on patient care rather than payment follow-ups.

What to Look for in a POS Financing Solution

If you’re considering a third-party point-of-sale financing solution, look for one that offers the following:

• Patient trust, brand familiarity and a long track record in health and wellness. When patients recognize the financing brand you’re offering, they may feel more comfortable considering it at point of payment. CareCredit has provided health and wellness financing for 35+ years and is part of Synchrony, a Fortune 200 company with 90+ years of financial experience, helping reinforce credibility and confidence.
• Approval experience and approval quality. The right solution should offer a fast, simple application process, along with credit limits that align with the typical costs of care at your practice.
• Workflow fit at point of payment. Choose a solution that integrates smoothly into your workflow with minimal disruption. Ideally, patients should have multiple ways to apply, such as a QR code or link.
• Training and tools that drive adoption. Look for onboarding support, staff training and ready-to-use scripts and marketing materials that make it easy for your team to introduce financing options clearly.
• Compliance and reputation protection. A strong solution will include clear disclosures, consistent language and support for managing any patient concerns or complaints.

A Smart Way to Support Patients and Clients and Strengthen Your Practice

Healthcare practices are looking for ways to improve the patient experience, reduce administrative burden and continue growing in an increasingly cost-sensitive environment. At the same time, patients want flexible, transparent options that make care feel more manageable. POS financing can help bridge that gap, supporting better outcomes for both patients and providers.

Offer Flexible Financing at Your Practice

If you are looking for a way to connect your patients with flexible financing that empowers them to pay for the care they want and need, consider offering the CareCredit credit card as a financing solution. CareCredit allows cardholders to pay for out-of-pocket health and wellness expenses over time while helping enhance the payments process for your practice or business.

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

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

Author Bio

Nancy Mann Jackson is a journalist and content writer who writes regularly about finance and healthcare. Her work has been published by AARP, CNBC, Entrepreneur and Fortune.