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Prime Healthcare Expands Healthcare Financing With Synchrony Collaboration

Healthcare provider Prime Healthcare and financial service company Synchrony rolled out a collaboration on Tuesday (Oct. 26) that allows Prime’s patients to pay for their healthcare appointments over time through Synchrony’s CareCredit credit card.

“Patient care will always be our number one priority,” Sunitha Reddy, Prime Healthcare’s vice president of operations, said in the joint announcement. “Integrating care delivery with revenue cycle management is critical in an increasingly consumer-focused healthcare market.

“Implementing CareCredit solutions allows us the ability to offer flexible healthcare financing options that can help meet the unique and evolving needs of our patients while also improving their well-being and experience,” Reddy said.

Prime Healthcare currently has 45 hospitals in 14 states, where the healthcare credit card will be available for qualified patients’ pre-care, point-of-care and post-care payments.

Members can apply for the Synchrony CareCredit card on their mobile devices, computers, in their provider’s office or over the phone, receiving a decision in seconds. If successful, they can pay bills in long- and short-term chunks immediately upon getting their cards.

Financing options include deferred interest if paid in full within six, 12, 18 or 24 months, and reduced APR with fixed monthly payments for 24, 36, 48 or 60 months.

“Synchrony’s CareCredit credit card was founded more than 30 years ago to help people pay for the healthcare they need or want for themselves and their families,” Alberto Casellas, chief executive officer, Synchrony’s Health and Wellness, said in the joint announcement.

“As out-of-pocket healthcare expenses continue to increase, patients are seeking providers that can address both the clinical and financial aspects of their healthcare experience,” Casellas said. “Our partnership with Prime Healthcare will help Prime Healthcare’s patients pay for the care they need while also streamlining the health system’s payments processes and financial workflows.”

Related: Synchrony, Fiserv Expand Partnership to Offer Merchants Synchrony’s Payments, Financing Options Via Clover

Earlier this month, Synchrony broadened its collaboration with Fiserv with a new arrangement that lets small businesses access Synchrony’s products and services, and accept credit card payments, via Fiserv’s point-of-sale platform Clover.

Synchrony clients will also be able to access the company’s products, including revolving credit and short-term and long-term installment loans, while the two companies will look for new ways to cross-sell Synchrony’s products to merchants already using Clover.

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