The expansiveness of a human arsenal isn’t exactly a secret, and yet one thing we can safely is that it doesn’t hold anything more significant than our growth oriented tendencies. These tendencies, in particular, have already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which guided us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a full-blown tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.
Synchrony, a leading consumer finance company, has officially signed off on a partnership with PatientNow, a practice management company for the elective medical space, to transform payments and simplify work across cosmetic practices and the medical spa industry. Under the agreed terms, Synchrony’s health and wellness credit card called CareCredit will become available as one of the primary financing options in PatientNow’s own cloud-based practice management solution, a solution currently serving the network of more than 4,800 aesthetic and cosmetic medical institutions spread nationwide. Owing to the stated integration, these organizations will be able to offer a variety of customized financing options to their patients, along with enhanced account management solutions and even specialized marketing capabilities. Talk about how the whole partnership will look on a more granular note, it will, for instance, pack together Synchrony’s Quickscreen application. This offering should go a long distance when the agenda is to offer providers the ability to pre-screen their patients for credit in bulk, thus greatly informing operations in the given regard. You see, such a mechanism should be able to fill you in on stuff like which patients are to be preapproved for financing, or which patients already have a CareCredit account. For existing cardholders, the screening process is also going to fetch you their available credit, and it will notably complete the whole due diligence before a patient’s appointment is scheduled to happen. Next up, we must get into how the development in question will deliver at your disposal an assortment of top-notch customer self-service capabilities that will leverage a customized texting functionality to give patients greater sense of control over their application process. The centerpiece idea here is to make it possible for them to confirm their personal financial information, submit their application for credit approval, and get a credit decision without ever feeling the need to avail provider’s assistance. Not just that, by sending payment link directly to the cardholder, the partners will also simplify for them the process to clear any outstanding balance. Rounding up the highlights is a prospect of personalized URLs, otherwise known as PURls. Thanks to these PURLs, beneficiaries of the given partnership can pre-fill patient-specific information to cut out a massive chunk of time which the traditional CareCredit application process has shown to demand in the past.
“This partnership will improve the way we work and how payments are done in the cosmetic industry. The impact will be felt by front office staff across PatientNow’s providers who are overwhelmed by today’s manual processes and seek better solutions to digitize and modernize their practices,” said Beto Casellas, EVP & CEO of Health & Wellness at Synchrony. “The integration of Synchrony and PatientNow products and technologies combined with our expertise in healthcare will help providers offer more flexibility and convenience to their patients to simplify their financing experience.”
But what makes Synchrony an ideal partner to conceive such an effort? Well, the answer resides in its proprietary solution, which so happens to be among the industry’s most complete digitally enabled product suites. As a result, the company is able to effectively serve a broad spectrum of industries, including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet, and more. This versatility is also evident in its product line-up that puts on the table everything from consumer finance, digital payments, and promotional financing solutions to installment lending, savings products, and online banking services.
“Today’s cosmetic providers demand best-in-class technologies that transform how their organizations operate and how they provide value to patients,” said Bethany Little, CEO of PatientNow. “The alliance between PatientNow and Synchrony opens up an exciting opportunity for both companies to reach new markets and deliver unified solutions and services that can further empower doctors to manage their practice and patient payment solutions in one place.”
As for PatientNow, it makes a case for itself by being the industry’s only complete platform to manage all aspects of modern elective medical practice, such as solutions for integrated EMR, practice management, patient engagement, digital marketing, and photo management. The company’s excellence in what it does can also be understood once you consider it currently books more than 1.8 million appointments every month, all while boasting a patient retention rate of 90%. This is also a big reason why PatientNow successfully processed an estimated 1.7 billion worth of payments in 2023 alone. Another detail which should tell you a lot about the company’s stature is that it is, at the moment, operating in well over 4700 locations worldwide.
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