November 10, 2020 AxiaMed Teams with CareCredit to Provide Integrated Payment Solutions for Convenient, Streamlined Patient Experience
SANTA BARBARA, Calif. – November 10, 2020 — AxiaMed, an industry leader in payment technology, today announced a new collaboration with CareCredit, a healthcare credit card, to provide a secure, efficient patient payment experience through AxiaMed’s payment platform. CareCredit is a health and wellness credit card that can be used as a promotional financing option at more than 240,000 healthcare provider locations nationwide for medical care, cosmetic and dermatology procedures, LASIK and vision care, dentistry, veterinary, hearing care and other specialties. The innovative payment solution from CareCredit and AxiaMed is available on AxiaMed’s next-gen lineup of PAX Android payment devices.
CareCredit is used to pay for out-of-pocket expenses not covered by medical insurance – and includes promotional financing options that may not be available with general purpose credit cards. CareCredit works well for healthcare providers, offering a powerful advantage for both the patient and the practice. Providers can proactively inform a patient that there is an easy financing option – and they can receive an instant credit decision – helping to remove financial pressure from the payment discussion and allowing the patient to purchase the recommended services without delay.
“We’re delighted to partner with CareCredit to offer healthcare providers a unique, integrated solution designed to make it easier than ever to provide patients with the payment option of CareCredit,” said Randal Clark, CEO and co-founder of AxiaMed. “It’s an absolute win-win for everyone – Providers want to offer CareCredit to patients as it enables them to purchase services they couldn’t otherwise afford and ensures payment to the practice; patients count on being able to use CareCredit in order to pay for treatments and services. And plugging into CareCredit won’t create any extra work or expense for independent software vendors (ISVs).”
The seamlessly integrated CareCredit and AxiaMed solution makes it much easier for healthcare providers and their Electronic Health Records system (EHR), Revenue Cycle Management systems (RCM) or Practice Management Software (PMS) systems to accept CareCredit transactions. Providers have digital access to signed receipt copies and see CareCredit transaction details displayed directly in their PMS. CareCredit cards, including the CareCredit® RewardsTM Mastercard, can be read and encrypted by AxiaMed’s PAX payment devices and payments will automatically be reflected in the patient’s ledger, just like any other card payment type. Not only can this reduce risk/fraud exposure for providers, but it makes it easier for patients to complete payments.
“Today’s patients expect options and flexibility,” said Shannon Burke, General Manager, Health Systems, CareCredit, a Synchrony Solution. “Our partnership with AxiaMed offers millions of CareCredit cardholders a more user-friendly payment experience with new, enhanced terminal technology that delivers a streamlined, convenient transaction.”
More than 11 million CareCredit cardholders can now have a low-friction checkout experience where they can easily view and compare monthly payment amounts, term lengths, and applicable interest rates on a responsive, HD touchscreen. Instead of sensitive discussions about financing healthcare costs and burdensome physical forms, patients and providers can enjoy privacy and efficiency in this innovative experience that clearly presents only the applicable financing options for each patient/provider/transaction combination. By leveraging the latest technology, AxiaMed can deliver this one-of-kind experience to patients while making it easier than ever for providers and technology partners to accept CareCredit at the point of care and beyond.
AxiaMed is a healthcare financial technology company focused on facilitating patient payments. AxiaMed’s Payment Fusion is a cloud-based healthcare payment platform that integrates into various EHRs and practice management systems as well as revenue cycle, patient engagement, and related software applications to provide secure, flexible patient payment options with industry-leading features and optimal workflows. Architected uniquely for the healthcare industry, the Payment Fusion platform provides unprecedented enterprise-level security, financial interoperability, and ease of scale for any healthcare organization.
CareCredit, a Synchrony solution, is a leading provider of promotional financing to consumers for health, veterinary and personal care procedures, services and products. For more than 30 years, CareCredit has helped millions of people by offering special financing options with convenient monthly payments. CareCredit is accepted at more than 240,000 locations for a wide variety of health and wellness procedures, treatments, products and services. More information can be found at carecredit.com.
Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, and healthcare providers. Synchrony is changing what’s possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions. For more information, visit synchrony.com and Twitter: @synchrony.