Mercyhealth partners with Synchrony to provide patients with more accessible financing options
STAMFORD, Conn. and ROCKFORD, Ill.Feb. 9, 2022 /PRNewswire/ — Synchrony (NYSE: SYF), a leading provider of consumer payment and finance solutions, and mercy, a regional health system with seven hospitals and 85 primary and specialty care facilities, today announced a multi-year strategic partnership to expand patient financing options. Mercyhealth will accept Synchrony’s CareCredit credit card, for pre-care, point-of-care and post-care payment, enabling innovative financing options to meet the needs and budgets of Mercyhealth patients throughout their healthcare journey. care. Synchrony’s CareCredit financing program is integrated with that of Mercyhealth Epic MyChart patient management platform for patient convenience and flexible financing options.
“Mercyhealth is committed to finding solutions to improve the lives of our patients and their families, including providing them with options to fund their medical travel,” said Kimberly Scaccia, Vice President, Revenue Cycle at Mercyhealth. “This partnership allows us to provide patients with flexible payment options across all points of care and service lines so they can get the care they want or need.”
As out-of-pocket healthcare expenses such as high deductibles and co-payments continue to rise, Mercyhealth sought a financing solution to provide a flexible payment option to its patients and their families. By partnering with Synchrony to offer CareCredit, Mercyhealth has established a reliable payment option that enables price transparency to help patients understand approximate treatment costs and allows them to access the care they need.
With Synchrony’s CareCredit, patients can easily apply for the credit card through Epic MyChart or on their mobile device, computer, or phone, and find out in minutes if they’ve been approved. Patients can choose from short-term and long-term financing options when processing a payment. 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 chosen.
“Synchrony’s CareCredit was created to help people pay for the healthcare they need or want for themselves and their families,” said Shannon Burke, Managing Director of Health Systems, Synchrony. “Our partnership with Mercyhealth will positively impact the financial experience of patients and at the same time simplify the organization’s financial workflow.”
Synchrony CareCredit credit card is a way for people to pay for care not covered by insurance, including elective procedures, copayments, deductibles, and coinsurance, often with special funding. Today, Synchrony’s CareCredit credit card is accepted at more than 250,000 health-focused providers and outlets, including 20 health systems, and has more than 11 million cardholder accounts.
Synchrony (NYSE: SYF) is a leading consumer financial services company. We offer a wide range of specialized financing programs, as well as innovative consumer banking products, in key sectors such as digital, retail, home, automotive, travel, health and pets of company. Synchrony enables our partners to increase sales and retain consumers. We are one of the largest private label credit card issuers in United States; we also offer co-branded products, installment loans and consumer finance products for small and medium-sized businesses, as well as healthcare providers. Synchrony changes what is possible through our digital capabilities, deep industry expertise, actionable data insights, seamless customer experience, and customized financing solutions. For more information, visit www.synchrony.com and Twitter: @Synchrony
About Mercy Health
Mercyhealth is a multi-regional health system with more than 700 employed partner physicians, seven hospitals, and 85 primary and specialty care facilities serving 55 northern regions. Illinois and from the south Wisconsin communities. Mercyhealth’s more than 7,000 employees/partners support more than 2.4 million patient visits each year. As the premier vertically integrated healthcare provider, they continuously work with passion to improve the lives of the individuals, families and communities they serve.
Michelle Blaya Romero