Press Release
April 2, 2019, 9:02 AM EDT
CareCredit Credit Card Receives HFMA Peer Review Designation
Dateline:
Chicago, Ill. and Stamford, Conn.
The Healthcare Financial Management Association (HFMA) recently reviewed the CareCredit credit card, a leading health, wellness, and personal care credit card, using the Peer Review process. After undergoing the rigorous review, the CareCredit credit card has been awarded the “Peer Reviewed by HFMA®” designation.
According to HFMA’s Peer Review research, 90 percent of those surveyed “agree” or “strongly agree” that they would recommend the CareCredit credit card to colleagues; 96 percent “agree” or “strongly agree” that the CareCredit credit card satisfies a need in the healthcare industry and 100 percent “agree” or “strongly agree” that the CareCredit credit card is easy to use.
CareCredit enables its more than 11 million cardholders to pay for out-of-pocket healthcare costs over time while also generally enabling providers to receive payment for services within two business days of accepting the card for payment, with no financial liability to the provider if the patient delays or defaults on payment. Providers who accept CareCredit can choose from promotional financing options including no interest if paid in full within 6, 12, 18 or 24-months[i]. CareCredit is accepted through a national network of more than 220,000 healthcare provider locations across more than 25 healthcare specialties, as well as select health-focused retailers.
“It is an honor to be recognized by HFMA as a trusted partner for healthcare providers,” said CareCredit president and CEO Beto Casellas. “We hope the HFMA Peer Review designation will encourage more healthcare leaders to turn to our proven, patient-centric healthcare payments solutions to help their patients access and pay for healthcare.”
HFMA's Peer Review process provides healthcare financial managers with an objective, third-party evaluation of business solutions used in the healthcare workplace. The rigorous, 11-step process includes a Peer Review panel review comprising current customers, prospects who have not made a purchase, and industry experts. The Peer Review status of the healthcare business solution and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.
“We’re pleased to have the CareCredit credit card achieve the HFMA Peer Reviewed designation,” said HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. “The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed healthcare business solution meets an objective, third-party assessment of overall effectiveness, quality, and value."
About HFMA
The Healthcare Financial Management Association (HFMA) is the nation's premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. We help healthcare stakeholders achieve optimal results by creating and providing education, analysis, and practical tools and solutions. Our mission is to lead the financial management of health care.
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 220,000 locations for a wide variety of health and wellness procedures, treatments, products and services. More information can be found at www.carecredit.com.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $140 billion in sales financed and 80.3 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at www.synchrony.com and through Twitter: @Synchrony.
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[i] No interest will be charged on the promo purchase if you pay it off, in full, within the 6, 12, 18 or 24 month promo period. If you do not, interest will be charged on the promotional purchase from the purchase date. If your purchase qualifies for a 24-month promo offer, fixed monthly payments are required equal to 4.1667% of initial promo purchase amount until promotion is paid in full. The fixed monthly payment will be rounded up to the next highest whole dollar and may be higher than the minimum payment that would be required if the purchase was a non-promotional purchase. For all other promotional offers, the regular minimum monthly payment terms of the account will apply. Regular account terms apply to non-promo purchases and, after promo period ends, to remaining promo balance, except the fixed monthly payment will apply until the promo is paid in full. For new accounts: Purchase APR (interest rate) is 26.99%; Minimum Interest Charge is $2. Existing cardholders: See your credit card agreement terms. Subject to credit approval.
Contacts:
Karen Thomas
Healthcare Financial Management Association
(708) 492-3377
kthomas@hfma.org
Lisa Lanspery
Synchrony
(203) 585-6143
lisa.lanspery@syf.com
