In the dynamic world of dentistry, staying ahead of the curve requires constant innovation and adaptation. One significant advancement making waves in the dental industry is the extended partnership between Synchrony Consumer Financial Services and Affordable Care, LLC. This collaboration is set to expand the offerings of CareCredit, especially for dental implant services, providing both dental professionals and patients with enhanced financial options.

Good oral health is crucial for maintaining overall health and self-confidence. However, costs can often hinder patients from achieving their dental health goals. According to Synchrony’s Dental Lifetime of Care study, 58% of respondents believe dental care is unaffordable. This perception may explain why a staggering 92% of respondents said they would consider delaying general dental care due to cost.

Logo of Synchrony Financial company.

Synchrony and Affordable Care, LLC: Understanding the Partnership

Synchrony, a consumer financial services company, has long been a key player in offering financial solutions that help consumers manage the costs of healthcare and other essential services. Affordable Care, LLC is a dental support organization (DSO) that provides business support services to dental practices, particularly those specializing in dentures and implants. Founded in 1975, Affordable Care partners with dental practices to manage the non-clinical aspects of running a dental office. This allows dentists to focus more on patient care and less on administrative tasks.

Affordable Care, LLC is particularly known for its affiliation with practices that provide affordable dentures and implants, making these services accessible to a wider population. Through its support, dental practices can continue to offer high-quality dental care while keeping costs lower for patients.

The extension of their partnership marks a significant milestone. This collaboration aims to broaden the scope of CareCredit, a healthcare credit card that patients can use to pay for out-of-pocket healthcare expenses, including dental services. By expanding CareCredit offerings, Synchrony and Affordable Care, LLC are addressing the growing demand for flexible financing options in dental care, particularly for high-cost procedures like dental implants.

The Growing Demand for Dental Implants

Dental implants have become increasingly popular as a preferred solution for missing teeth. Unlike dentures, which can be uncomfortable and require regular adjustments, dental implants offer a more permanent and natural-looking solution. However, the cost of dental implants can be a significant barrier for many patients. This is where the enhanced CareCredit offerings come into play.

For dental professionals, this partnership presents an opportunity to enhance patient care and satisfaction. By offering CareCredit, practices can attract and retain more patients who might otherwise delay or forgo essential dental treatments due to cost concerns. As the demand for dental implants and other advanced dental procedures grows, having robust financial solutions in place ensures that dental practices can meet the needs of their patients effectively and sustainably.

Close-up of unrecognizable senior woman holding tooth model during consultation on dental implant surgery in dental clinic.

Benefits of CareCredit for Dental Services

  1. Increased Case Acceptance: When patients have access to financing options like CareCredit, they are more likely to accept treatment plans, including those involving costly procedures such as dental implants. This leads to higher case acceptance rates and, ultimately, better patient outcomes.
  2. Improved Cash Flow: CareCredit ensures that dental practices receive payment promptly. This improved cash flow can be crucial for the smooth operation of dental offices, allowing them to invest in new technologies, staff training, and other essential areas.
  3. Enhanced Patient Relationships: Offering financing options demonstrates a dental practice’s commitment to patient care. It shows that the practice understands and addresses the financial concerns of its patients, fostering trust and long-term relationships.
  4. Streamlined Administrative Processes: CareCredit simplifies the payment process for both patients and dental practices. With easy-to-use online tools and resources, practices can quickly process applications and transactions, reducing administrative burdens.

Focus on Dental Implant Services

Dental implants are a significant investment, both in terms of time and money. The extended partnership between Synchrony and Affordable Care, LLC, aims to make this investment more feasible for patients. Here’s how:

  • Customized Financing Plans: CareCredit offers a variety of financing plans, including no-interest and low-interest options. This flexibility allows patients to choose a plan that best fits their budget, making dental implants more affordable over time.
  • Promotional Financing Options: For larger procedures like dental implants, CareCredit provides promotional financing options that can help patients manage costs without immediate financial strain. This can be particularly appealing for patients who might otherwise delay or forego treatment due to cost concerns.
  • Educational Resources: Synchrony and Affordable Care, LLC, are committed to educating patients about the benefits and financing of dental implants. By providing clear and accessible information, they help patients make informed decisions about their dental health.

Impact on Dental Practices

For dental practices, the extended CareCredit offerings mean an enhanced ability to meet patient needs and grow their business. Here are some key impacts:

  • Attracting New Patients: By offering CareCredit, dental practices can attract a broader range of patients, including those who might have previously considered dental implants out of reach. This can lead to increased patient volume and practice growth.
  • Retention of Existing Patients: Providing financing options helps retain existing patients who need more extensive dental work. When patients feel supported financially, they are more likely to remain loyal to the practice.
  • Competitive Advantage: In a competitive market, offering comprehensive financing options through CareCredit can set a practice apart from others. It positions the practice as patient-centric and financially accommodating.

Implementing CareCredit in Dental Practices

Implementing CareCredit in a dental practice involves several steps to ensure smooth integration and provide patients with a convenient financing option for their dental care. Here’s a step-by-step summary:

Step 1: Research and Understand CareCredit

  1. Visit the CareCredit Website: Learn about the services, benefits, and terms offered by CareCredit.
  2. Contact a Representative: Reach out to a CareCredit representative to get detailed information and address any questions.

Step 2: Apply for Enrollment

  1. Complete the Application: Fill out the CareCredit enrollment application, available on their website or through a representative.
  2. Submit Required Documentation: Provide necessary documentation such as your dental practice license, business information, and proof of identity.

Step 3: Set Up Your Account

  1. Approval Notification: Once approved, you will receive an approval notification and account setup details.
  2. Access the Provider Portal: Log in to the CareCredit Provider Center to access your account, tools, and resources.

Step 4: Staff Training and Education

  1. Training Sessions: Schedule training sessions for your staff to ensure they understand how CareCredit works and can explain it to patients.
  2. Educational Materials: Utilize CareCredit’s educational materials, including brochures, FAQs, and training videos.

Step 5: Integrate CareCredit into Your Practice Management Software

  1. Software Integration: If compatible, integrate CareCredit with your practice management software for seamless transaction processing.
  2. Test the Integration: Run test transactions to ensure everything is working correctly.

Step 6: Promote CareCredit to Patients

  1. In-Office Signage: Display CareCredit promotional materials in your office, including brochures, posters, and counter displays.
  2. Website Information: Add information about CareCredit to your practice’s website, including a link to the online application.
  3. Social Media and Email Campaigns: Use social media and email newsletters to inform patients about CareCredit financing options.

Step 7: Offer CareCredit During Patient Consultations

  1. Discuss Financing Options: During consultations and treatment planning, discuss CareCredit as a payment option with your patients.
  2. Assist with Applications: Help patients complete the CareCredit application process, either in-office or online.

Step 8: Monitor and Manage

  1. Track Transactions: Regularly monitor CareCredit transactions through the Provider Center.
  2. Evaluate Performance: Periodically review how CareCredit is being used by patients and assess its impact on your practice’s financial health.

Step 9: Stay Updated

  1. Ongoing Training: Participate in ongoing training and updates provided by CareCredit to stay informed about new features and services.
  2. Feedback Loop: Gather feedback from your staff and patients to continually improve the use of CareCredit in your practice.

By following these steps, you can effectively implement CareCredit in your dental practice, offering patients a flexible financing option and potentially increasing your practice’s revenue.