RevSpring and CareCredit Collaborate to Provide Patient Financing Option

Rhea-AI Summary

RevSpring and CareCredit announced the integration of CareCredit's application and payment option within RevSpring's PersonaPay™ portal. This partnership enables qualified patients to access credit for healthcare expenses at over 240,000 providers. CareCredit offers promotional financing on purchases over $200, facilitating quicker payment decisions for patients. The collaboration aims to reduce financial strain on consumers while aiding healthcare providers by streamlining payment processes, potentially enhancing patient engagement and satisfaction.

Positive

• Integration of CareCredit enhances payment options for patients.
• Streamlined transactions may improve patient engagement for providers.
• CareCredit accepted at over 240,000 healthcare locations.

Negative

• None.

LIVONIA, Mich., Dec. 15, 2020 /PRNewswire-PRWeb/ -- RevSpring, the leading provider of patient engagement and payment solutions, and CareCredit, a Synchrony Solution and leading provider of promotional financing to healthcare consumers, today announced the integration of the CareCredit credit card application and payment option within RevSpring's PersonaPay™ payment portal. CareCredit adds to the seamlessly integrated financing options available through PersonaPay, that allow qualified patients to instantly access credit to pay for a wide range of healthcare expenses.

CareCredit is a health and wellness credit card accepted at more than 240,000 U.S. healthcare providers, health systems and retail locations for medical care and other specialties including dentistry, vision care and LASIK, hearing care, cosmetic and dermatology procedures, pharmacies and veterinary care. The CareCredit card also can be used to pay for out-of-pocket expenses including co-pays, coinsurance and deductibles, with promotional financing available on purchases of $200 or more that may not be available with general purpose credit cards. Credit decisions are provided instantly.

RevSpring senior vice president of payment applications Casey Williams noted that the integration with CareCredit also benefits providers. "Providers using our PersonaPay portal now can proactively engage patients with another payment option, making it easier and faster for consumers to make payment decisions about healthcare and related services. With many people experiencing financial strain now, we're pleased to partner with CareCredit to provide a unique, integrated payment solution without creating extra work or expense for providers."

CareCredit Health Systems general manager Shannon Burke said the partnership with RevSpring will make it extremely easy for patients whose providers already use PersonaPay to access streamlined credit transactions. "There are 12.4 million open CareCredit accounts. Cardholders appreciate this fast, flexible, and user-friendly option for paying for healthcare costs."

About RevSpring
RevSpring leads the market in financial communications and payment solutions that inspire patients to participate in and pay for their healthcare. The company has built the industry's most comprehensive and impactful suite of patient engagement, OmniChannel communications and payment solutions backed by behavior analysis, propensity-to-pay scoring, contextual messaging, and user experience best practices. Using proprietary data to tailor the engagement from pre-service to post-service, RevSpring improves the financial experience and outcomes for providers and their patients. To learn more, visit revspringinc.com/healthcare.

About CareCredit
CareCredit, a Synchrony solution, is a leading provider of promotional financing to consumers for health, veterinary and personal care procedures, services and products. For more than 30 years, CareCredit has helped millions of people by offering special financing options with convenient monthly payments. CareCredit is accepted at more than 240,000 locations for a wide variety of health and wellness procedures, treatments, products and services. More information can be found at carecredit.com.

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company. Synchrony delivers 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. Synchrony is one of the largest issuers of private label credit cards in the United States that also offers co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, and healthcare providers. Synchrony is changing what's possible through digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions. For more information, visit synchrony.com and Twitter: @synchrony.

Media Contact

Kristen Jacobsen, RevSpring, 651-259-4636, kjacobsen@revspringinc.com

 

SOURCE RevSpring

FAQ

What recent partnership was announced involving Synchrony (SYF)?

RevSpring partnered with CareCredit to integrate its credit card application and payment option with RevSpring's PersonaPay™ portal.

How does the CareCredit integration benefit patients?

The integration allows qualified patients to access credit for healthcare expenses, facilitating quicker payment decisions through promotional financing.

How many healthcare providers accept CareCredit?

CareCredit is accepted at over 240,000 healthcare providers and retail locations across the U.S.

What financing options does CareCredit offer?

CareCredit offers promotional financing for purchases over $200, which may not be available with general purpose credit cards.

When was the press release regarding the RevSpring and CareCredit integration issued?

The press release was issued on December 15, 2020.