Patient Financing
The two major factors that influence a patients desire to have an elective procedure continue to be Price and Fear. The "Fear" factor is addressed by the patient with their own research, word of mouth and an opportunity to meet with the doctor and key staff members to assure them of the safety and positive outcome from the procedure.
Price, though, is a different matter. Price is not just "how much the procedure costs?", but "how can the patient pay for it?" Consumer credit is tightening up and many consumers are trying to preserve their lines of credit. Therefore the role of a quality patient finance product with various payment options is key to the continued success of a vision correction practice. Overcoming the "Price" or "How do I pay for it?" barrier will allow your practice to continue to grow and concentrate on the patients needs. Refractive Practices throughout the United States are helping to ensure their growth by offering their patients financial choices to pay for their procedures. Isn't it time you did the same and integrated easy payment plan options into your practice for your future patients?
CareCredit Overview – Who is CareCredit?
In a survey of over 8,000 patients who participated in a consult but did not proceed to surgery, the number one cited for not proceeding was “financial reasons”.
CareCredit, a division of GE Money, is the leading patient financing company in the United States. For over 20 years, CareCredit has made healthcare affordable for patients and is used in over 80,000 medical offices nationwide.
According to a recent credit card industry survey, the average person has only $300 of credit available on their consumer credit cards. Visa and MasterCard may be limited payment options for treatment fees of several hundred dollars or more, especially for elective procedures such as LASIK or premium IOLS. CareCredit helps make the procedure affordable and allows your patients to say “Yes!” today.
CareCredit Benefits - How can CareCredit help me?
What CareCredit Offers Your Practice:
- Higher Approval Rates The more patient’s you are able to get approved, the more patients that are able to move forward with the procedure because the cost barrier has been effectively removed. With CareCreditPlus, you can approve 90% of the patients that walk in your door making LASIK affordable for almost everyone.
- Patient Choice From no interest for 3, 6, 12, 18, and 24 months or low interest extended payment plans for 24, 36, 48, or 60 months, there is a plan for every patient. Plus, CareCredit does not dictate what type of plan a patient is eligible for based upon their credit. Once approved, the patient can select from the plans offered by your practice.
- Easy to Use Applying for CareCredit only takes a couple minutes in your office or from the comfort of your patient’s home. And with less paperwork and easy processing, CareCredit can save your staff and patients a significant amount of time.
- Marketing of Your Practice – With over 6 million existing CareCredit cardholders with over $12 billion dollars in open credit, CareCredit is committed to promoting your practice to their existing cardholders through an extensive marketing campaign and CareCredit’s Provider Locator. Once a patient has used CareCredit to finance a healthcare procedure such as dental work, CareCredit continues to promote the use of CareCredit for other healthcare purchases such as LASIK by informing the patient of ophthalmologists that accept CareCredit in their area. Each year, CareCredit sends millions of dollars of patients to existing CareCredit providers through this referral program.
- Quick and Easy Payments - Payment is instant and non-recourse. Once the transaction is processed, CareCredit deposits the funds into your checking account within two business days. If for whatever reason, the patient fails to make payments, you will not be penalized.
Contact CareCredit
For more information on CareCredit or to enroll please call us at 877-675-7070 ext 4133
If you are interested in becoming a CareCredit provider, please contact us.
