Prime Healthcare Partners with Synchrony to Provide More Healthcare Financing Options to Patients
Prime Healthcare has partnered with Synchrony (NYSE: SYF) to introduce new patient financing options across its 45 hospitals in 14 states. This collaboration will enable patients to use CareCredit, a healthcare credit card, for various healthcare expenses, enhancing price transparency and affordability. Patients can apply online or in-person, with immediate credit decisions. The initiative aims to address rising out-of-pocket healthcare costs and improve the patient experience through flexible financing options, including deferred interest plans.
- Partnership with Synchrony to offer CareCredit financing enhances payment options for patients.
- Immediate credit decision process allows for quick patient access to funds.
- Flexible financing options available, including deferred interest and extended payment plans.
- None.
COSTA MESA, Calif. and ONTARIO, Calif., Oct. 26, 2021 /PRNewswire/ -- Prime Healthcare, an award-winning physician-founded and physician-led health system, and Synchrony (NYSE: SYF), a premier consumer financial services company, today announced a partnership to offer new patient financing options at Prime Healthcare's 45 hospitals in 14 states. In partnership with Synchrony, Prime Healthcare will offer patients another way to easily pay for healthcare over time with Synchrony's CareCredit, a leading healthcare credit card, for pre-care, point-of-care and post-care payment.
By partnering with Synchrony to offer the CareCredit credit card, Prime Healthcare will establish a new payment option that enables price transparency and affordability, and empowers patients to access the care they need throughout their healthcare journey.
"Patient care will always be our number one priority," said Sunitha Reddy, VP of Operations of Prime Healthcare. "Integrating care delivery with revenue cycle management is critical in an increasingly consumer-focused healthcare market. Implementing CareCredit solutions allows us the ability to offer flexible healthcare financing options that can help meet the unique and evolving needs of our patients while also improving their well-being and experience."
Prime Healthcare patients can apply for the CareCredit credit card on a mobile device or computer, in a provider's office, or over-the-phone. A credit decision is made within seconds and upon approval, applicants can use the credit card to pay bills immediately. Patients can select from short-term and long-term financing options including deferred interest if paid in full within 6,12,18 or 24 months and reduced APR with fixed monthly payments for 24, 36, 48 or 60 months.
"Synchrony's CareCredit credit card was founded more than 30 years ago to help people pay for the healthcare they need or want for themselves and their families," said Alberto Casellas, chief executive officer, Synchrony's Health and Wellness Platform. "As out-of-pocket healthcare expenses continue to increase, patients are seeking providers that can address both the clinical and financial aspects of their healthcare experience. Our partnership with Prime Healthcare will help Prime Healthcare's patients pay for the care they need while also streamlining the health system's payments processes and financial workflows."
Prime Healthcare patients who select CareCredit will have access to easy online account management tools, including payment reminders, and Synchrony's award-winning customer service call center. Additionally, patients can use the CareCredit payment calculator to help estimate their monthly payments based on the amount of care financed and the offer selected.
The CareCredit credit card is a way for people to pay for care not covered by insurance, including elective procedures, copays, deductibles and coinsurance, often with special financing. Today, Synchrony's CareCredit credit card is accepted at more than 250,000 provider and health-focused retail locations and has more than 6 million cardholder accounts.
To learn more about the CareCredit credit card visit www.carecredit.com. Patients can apply for the CareCredit credit card at Prime Healthcare by visiting www.primehealthcare.com.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, as well as healthcare providers. Synchrony is changing what's possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions. For more information, visit www.synchrony.com and Twitter: @Synchrony
About Prime Healthcare and Prime Healthcare Foundation
Prime Healthcare is an award-winning health system operating 45 hospitals and more than 300 outpatient locations in 14 states, providing over 2.6 million patient visits annually. It is one of the nation's leading health systems with nearly 50,000 employees and physicians dedicated to providing the highest quality healthcare. Fourteen of the Prime Healthcare hospitals are members of the Prime Healthcare Foundation, a 501(c)(3) not-for-profit public charity. Based in Ontario, California, Prime Healthcare is nationally recognized for award-winning quality care and has been named a Top 10 and Top 15 Health System by IBM Watson Health. Its hospitals have been named among the nation's "100 Top Hospitals" 58 times and have received more Patient Safety Excellence Awards from Healthgrades than any other health system in the past six years. To learn more, please visit www.primehealthcare.com
Media Contacts
Michelle Blaya
Synchrony Health & Wellness
Michelle.Blaya@syf.com
(626) 250-1415
Elizabeth Nikels
Prime Healthcare
ENikels@primehealthcare.com
(909) 235-4305
View original content to download multimedia:https://www.prnewswire.com/news-releases/prime-healthcare-partners-with-synchrony-to-provide-more-healthcare-financing-options-to-patients-301408091.html
SOURCE Synchrony Financial
FAQ
What is the partnership between Prime Healthcare and Synchrony (SYF)?
When was the partnership between Prime Healthcare and Synchrony announced?
How does CareCredit work for Prime Healthcare patients?
What benefits does CareCredit provide to Prime Healthcare patients?
How many hospitals are involved in the Prime Healthcare and Synchrony partnership?
