American Dental Association Member Advantage Extends Partnership with Synchrony's CareCredit, Endorsing it for Patient Financing
Partnership distinguishes CareCredit as ADA Member Advantage's only endorsed patient financing solution and includes comprehensive payment options and digital features for members and patients
STAMFORD, Conn., April 13, 2023 /PRNewswire/ -- The American Dental Association (ADA) Member Advantage and Synchrony (NYSE: SYF) today announced a 10-year partnership extension, making CareCredit, a Synchrony product, the only financing solution endorsed for ADA members. The endorsement is the result of a comprehensive due diligence process established by ADA Member Advantage to partner with and recommend trusted companies that provide unique value to the organization's 159,000+ dentist members. The partnership includes special financing options, digital features and exclusive deals for providers.
"Synchrony's purpose in the healthcare industry aligns with the ADA's mission to help dentists succeed and support the advancement of the oral health of the public," said Beto Casellas, EVP and CEO, Health & Wellness, Synchrony. "Our common vision has set the foundation for a long and mutually beneficial partnership between CareCredit and ADA Member Advantage, giving dental practices a powerful financing resource patients can use for recommended treatments and ongoing dental care."
CareCredit, one of the industry's first dental credit cards, has been endorsed by ADA Member Advantage since 2001. Through the renewed partnership, CareCredit will offer ADA members payment education, resources and financing solutions that will enable providers to have confident and successful cost conversations with patients, empowering them with financial solutions to help cover out-of-pocket dental costs.
"We have a defined process for choosing companies we want to endorse to our members. When we review Synchrony and the CareCredit product within that framework we find it to be an essential product that provides value to members and their patients, it becomes an easy decision to continue our partnership," said Bill Bulman, Chair of the ADA Member Advantage Board of Directors.
"Their ongoing commitment to providing financing options, education and practice resources to providers and dental teams makes them one of our most valued partners."
CareCredit is integrated in the top dental practice management software solutions, making it easy for dental teams to offer to patients and for patients to apply. Dental patients looking for a modern, flexible way to pay for dental care can apply in a dental practice, on any smart device, or over the phone, for the CareCredit credit card with no impact to their credit score. A credit decision is made within minutes and if approved, patients can use their account to pay the dentist right away. CareCredit has a wide range of financing options available, from 6 to 60 months, depending on the purchase amount. 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 selected.
"CareCredit helps providers improve revenue cycle management and maintain financial stability during a time of evolving change," said Bete Johnson, GM, Dental, Synchrony. "With CareCredit, dental practices are able to offer their patients the option to make convenient monthly payments to help make out-of-pocket expenses more manageable and budget friendly."
Today, CareCredit is accepted at more than 266,000 healthcare provider locations.
About the American Dental Association
The not-for-profit ADA is the nation's largest dental association, representing 159,000 dentist members. The premier source of oral health information, the ADA has advocated for the public's health and promoted the art and science of dentistry since 1859. The ADA's state-of-the-art research facilities develop and test dental products and materials that have advanced the practice of dentistry and made the patient experience more positive. The ADA Seal of Acceptance long has been a valuable and respected guide to consumer dental care products. The Journal of the American Dental Association (JADA), published monthly, is the ADA's flagship publication and the best-read scientific journal in dentistry. For more information about the ADA, visit ADA.org. For more information on oral health, including prevention, care and treatment of dental disease, visit the ADA's consumer website MouthHealthy.org.
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.
Michelle Blaya Romero
ADA Media Relations
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Released April 13, 2023