The philosophy behind CareCredit was borne out of the needs of both doctors and patients to have a payment method for non-insured medical services. The company and the value it offers the hearing care community in allowing it to focus on patient care instead of collecting payment, has matured into North America’s leading patient financing program.
Studies show that the average person only has $300 of available credit on their consumer credit cards and cannot write a check for more than $500.1 Offering patients No Interest Payment Plans increases the average selling price of hearing aids up to 37%,2 suggesting they are not trading down due to price.
Patients purchasing hearing aids using no-interest financing are more satisfied and agree to your recommendation more often. Accepting your recommendation leads to greater satisfaction proven by a return rate for those using CareCredit that is 75% less than the industry average. So, for many, it is not the total fee that causes the patient to delay care, but finding a comfortable way to pay over time.
- Overcome cost concerns by providing a low monthly payment option
- Increase average selling price by 37% by helping patients accept optimal technology.
- Increase instrument sales to patients who otherwise would not have purchased by offering a convenient payment solution.
CareCredit has provided convenient payment options to over 4.5 million patients helping them to receive the optimal hearing instrument they need, without the need to delay care. CareCredit has a plan to fit any budget, including 3, 6, 12, or 18 Month No Interest options and 24, 36, 48 and 60 Month Low Interest Extended Payment Plans.
To get started with CareCredit call (800) 300-3046, ext 4519.
1. Credit Card Industry Study.
2. Study based on a sample of 1,525 practices. CareCredit-sponsored study, October 2004.
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