CareCredit & MDsave Launch Strategic Partnership Helping Improve Access To Healthcare
BRENTWOOD, Tenn., Nov. 14, 2018
BRENTWOOD, Tenn., Nov. 14, 2018 /PRNewswire/ -- MDsave, the innovative online healthcare marketplace, announced today a partnership with CareCredit, a health, wellness and personal care credit card, to bring easy healthcare financing to their mission of providing better cost transparency to patients.
Too often Americans are foregoing healthcare when faced with high deductible costs. In fact, according to a Physicians Foundation Report, 67 percent of consumers surveyed said they or someone in their household are concerned about being able to pay their medical bill.1 Since it launched in 2012, MDsave has been committed to helping provide better and more affordable healthcare to consumers by allowing patients to shop, buy, and compare medical services through its platform.
As consumers face ever increasing healthcare costs, CareCredit, a Synchrony solution, offers patients the ability to pay over time for deductibles, co-pays, co-insurance and other out-of-pocket healthcare costs. Providers receive guaranteed payment within two business days with no recourse to the practice if the patient delays or defaults on payment. Helping to reduce the billing related constraints on administrative schedules, CareCredit can free up valuable time to allow providers and their staff to focus more on providing high-quality care and a positive patient experience.
MDsave is able to provide its customers transparent, easy-to-understand costs and savings of up to 60 percent on healthcare expenses, further helping to ensure those who need care have options to afford it. Partnering with CareCredit allows MDsave customers to better control their expenses with flexible financing options.
"MDsave is leading innovation in healthcare consumerization and transactional transparency," said Paul Ketchel, CEO and founder of MDsave. "Through our partnership with CareCredit, we are able to better empower our patients by improving affordability and access to healthcare services."
Taking the uncertainty out of shopping for health care when there are out-of-pocket costs, MDsave and CareCredit will offer two promotional financing options: zero interest if paid in full within 6 months or 24-month reduced APR and fixed monthly payments required until paid in full. The process includes an easy credit card application, and the promotional financing options provide MDsave customers with a convenient way to pay for care with monthly payments to help fit care into their budget.
"Our partnership with MDsave will help cardholders navigate the ever-rising consumer responsibility for healthcare." Said Dave Fasoli, CEO CareCredit. "Through this new relationship CareCredit continues to deliver increased utility to our cardholders while working towards our goal of becoming a comprehensive personal health and wellness solution."
MDsave is a healthcare technology company revolutionizing how hospitals and health systems increase access for the patient-consumer in an evolving market. The MDsave bundling solution allows providers to offer affordable, transparent pricing on complete episodes of care, increasing patient satisfaction while reducing bad debt and issuing payment to providers within 7 days of service. Through MDsave's patented collection software, patients pay one upfront price for prospective or retrospective care. MDsave empowers patients to take control over their healthcare decisions and gives hospitals a seamless way to collect from patients paying out of pocket for procedures. For more information, visit MDsave.com.
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 $130 billion in sales financed and 74.5 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 synchrony.com and through Twitter: @Synchrony.
CareCredit, a Synchrony solution, is a health, wellness and personal care credit card dedicated to helping people get the care they want and need. For more than 30 years, CareCredit has helped millions of people by offering promotional financing options with convenient monthly payments. CareCredit is accepted at more than 210,000 locations for a wide variety of health and wellness procedures, treatments, products and services.
1 The Physicians Foundation, "Physicians Foundation Report: Patient Survey," May 2016