Synchrony Continues Commitment to Supporting Independent Veterinary Practices Through Partnership with PSIvet
Rhea-AI Summary
Synchrony (NYSE: SYF) has announced that its CareCredit health and wellness credit card has been chosen as the preferred financing solution for PSIvet, a group purchasing organization supporting over 5,500 independent veterinary practices nationwide. This partnership aims to provide veterinary practitioners with tools to offer high-quality care and give pet parents convenient financing options.
CareCredit will be integrated into PSIvet's personalized business-enhancing solutions for member practices. The partnership is expected to help streamline financial workflows, reduce accounts receivable, and improve cash flow for veterinary practices. For pet owners, CareCredit offers financing options for various veterinary services, with the ability to prequalify instantly without impacting their credit score.
Positive
- Partnership with PSIvet expands CareCredit's reach to over 5,500 independent veterinary practices
- Potential for increased revenue through streamlined financial workflows and improved cash flow for veterinary practices
- Instant prequalification process for pet owners may lead to higher adoption rates of CareCredit
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, SYF declined 1.74%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CareCredit Named Preferred Financing Solution for PSIvet Members, Extending Access to Convenient Financing Options
"Synchrony shares PSIvet's goal of helping to provide veterinary practitioners with the tools they need to offer pets and pet parents the highest level of care possible," said Boo Larsen, SVP & General Manager, Veterinary and Pet Care, Synchrony. "This partnership will give PSIvet members the opportunity to offer CareCredit's convenient financing options to their clients, giving pet parents confidence in their payment options and helping veterinary practitioners focus on providing optimal care."
PSIvet Practice Consultants work closely with veterinary members to create a personalized, adaptable configuration of business-enhancing solutions, which now includes financing offerings from CareCredit.
"At PSIvet, we work hand-in-hand with our independent veterinarian practices, giving them the business tools to stay competitive, grow and service pet parents every day," said Laura Vickers, President of PSIvet. "That's why we are so excited to team up with CareCredit to help provide pet parents and veterinary practitioners peace of mind when it comes to providing and financing pet healthcare."
CareCredit partners with veterinary practices to help streamline financial workflows and payment processes, helping reduce accounts receivable and improve cash flow. For pet owners, CareCredit is a valuable financing option for all types of veterinary services, treatments and diagnostics, helping to give pet owners peace of mind and the confidence that they are ready to care for their beloved pets throughout their lifetime. CareCredit is offered in more than 25,000 veterinary practice locations across the U.S
Pet parents looking for a convenient way to pay for their animal's care can quickly see if they prequalify for the CareCredit credit card in real time on any smart device with no impact to their credit score. They will receive an instant credit decision, and upon approval they can use their account to pay the veterinarian right away. CareCredit offers promotional financing options and provides a user-friendly online calculator that makes it easy for pet owners to quickly estimate monthly payments. For more information, please visit www.carecredit.com.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to customers in their channel of choice. For more information, visit www.synchrony.com.
About PSIvet
PSIvet is a trusted advocate for independent veterinary practices with comprehensive, proprietary solutions that help its members save on pharmaceuticals and other animal health supplies, healthcare and other programs geared to strengthen their practices, and assist them to make smarter business decisions. Unlike traditional GPOs that provide limited support, PSIvet offers integrated services including purchasing programs, business services, professional development, training and technology solutions to deliver unmatched value, to help members successfully compete with corporate hospitals, big-box stores and online retailers. To learn more, visit www.psivet.com. If you have questions, please contact us at (888) 275-6523 or email us at contact@psivet.com.
Contact
Michelle Blaya Romero
Synchrony
626-250-1415
Michelle.Romero@syf.com
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SOURCE Synchrony Financial
FAQ
What is the new partnership between Synchrony (SYF) and PSIvet?
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