22 April 2024

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Synchrony Expands Dental Payment Offerings with Adit Practice Management Software Partnership

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Synchrony (NYSE: SYF), a consumer financial services company, announced a new partnership with Adit, an industry leading dental practice management software provider. Increasingly, dentists are looking for external support to deliver patient financing while ensuring patients are getting the experience they want and financial support they need.1

“Connecting patients to payment solutions at their dentist’s office is an essential part of ensuring their care journey is as smooth as possible,” said Matt Muscolo, SVP and General Manager, Dental Practices, Synchrony. “As margin pressures continue, a healthy practice depends on effective and timely revenue cycle management. This is where financial solutions like CareCredit and operational technology like Adit are able to lift that burden from the shoulders of practitioners.”

Offering these solutions to patients is particularly important, as more than half (58%) of consumers expressed that dental care is not affordable, and for those living without dental insurance, that number rose to 75%, according to the company’s recently published Dental Lifetime of Care study. CareCredit, one of the industry’s first credit cards for health and wellness, helps patients pay for their care over time and has been endorsed by major names in the dental industry including the American Dental Association (ADA), Academy of General Dentistry (AGD), and American Association of Dental Office Management (AADOM).

This new partnership with Adit will integrate CareCredit into “Adit Pay,” which allows dental practices to offer CareCredit as a financing option to their patients in a seamless and easy-to-use way. CareCredit’s innovative Batch Quick Screen will also help practitioners know when patients are preapproved for the health and wellness credit card.

“At Adit, our developers understand that creating a high-value dental business begins with a solid foundation based on creating satisfying customer experiences and efficient operations,” said Ali Jhaver, CEO of Adit. “Our partnership with Synchrony to integrate CareCredit’s offerings into our technology is just another way we can strengthen that foundation for providers.”

CareCredit is integrated into top dental practice management software solutions, making it easy for dental teams to offer to patients and for patients to apply. Dental patients looking for a modern, flexible way to pay for dental care can see if they prequalify in the dental practice and on any smart device with no impact to their credit score, or they can apply by phone.

A credit decision is made within minutes and if approved, patients can use their account to pay their dentist right away. CareCredit has a wide range of financing options available, from 6 to 60 months, depending on the purchase amount. Additionally, patients can use the CareCredit payment calculator to help estimate their monthly payments based on the amount of care financed and the financing option selected.

“Patient expectations are evolving and dental professionals need to adapt their practices accordingly,” said Josh Gosnell, Vice President of Revenue at Adit. “Adit’s seamless integration with other popular systems and technologies, such as CareCredit, gives practitioners a leg-up in overcoming these hurdles by transforming your practice, enhancing patient care, and setting you up to thrive in today’s ever-changing landscape.”

Synchrony, a leader in consumer lending for more than 90 years, has also been a leading financial solutions provider in the dental space with its CareCredit credit card for more than 35 years. Today, CareCredit is accepted at more than 270,000 healthcare provider and retail locations, including more than 117,000 dental care locations.

About Adit

Founded in 2012, Adit provides a suite of dental software products that help dental practices manage their operations, improve patient communication, boost production, and enhance patient care. Adit’s all-in-one dental software is used by dental practices across the United States and around the world.

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.

Source: https://www.carecredit.com/