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Synchrony Financial (SYF) Arm Intends to Aid Denticon Users

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Synchrony Financial’s SYF solution CareCredit recently announced its integration into the Denticon practice management software of Planet DDS. Notably, Planet DDS is renowned as a leader in the cloud-software industry and helps customers to efficiently manage dental practices of all scale.

Following the integration, CareCredit’s Quickscreen will make segregating patients easier for practice teams. The segregation will be done on the basis of – patients either having a CareCredit card or have been approved in advance for the card. Having access to such information will simplify the teams’ work of offering a suitable financing option to the patients. Notably, the information can be procured without the need of physical visit to offices.

This, in turn, tends to help practice teams in streamlining the entire process and ensure higher productivity at the same time. The chances of human error are also reduced with this integration.

As for patients, they will now have access to additional financing options with which they can progress faster toward availing necessary treatment as instructed. The process for CareCredit application has also been simplified with the recent move. All a patient needs to do is provide some information to the practice teams. Clients using Denticon can keep a track on the CareCredit status of patients. They will also benefit from faster credit decision following application submission.

Moreover, the recent integration highlights CareCredit’s efforts to offer financing solutions across the dental space and address challenges encountered while availing necessary care for patients. Also, the move seems to be time opportune amid several health woes inflicted by the COVID-19 pandemic. The present scenario calls for increasing number of financing options, which paves way for faster and informed decisions aimed at availing unavoidable healthcare expenses.

Furthermore, the Synchrony solution has left no stone unturned in bolstering its capabilities and broadening its network with an intensified focus on serving healthcare systems. Notably, CareCredit has been offering financing options equipped with monthly payments and over 240,000 locations accept CareCredit for a wide array of health and wellness services.

In March 2021, CareCredit forged an alliance with Epic App Orchard, which helps patients with hassle-free payments and healthcare services and aids hospital providers to run financially sound organizations.

The CareCredit platform remains well-poised for growth, which places Synchrony Financial on track to continue offering enhanced consumer financing options to customers.

Zacks Rank & Price Performance

Shares of this Zacks Rank #3 (Hold) company have soared 166.1% over a year compared with the industry’s rally of 19.1%.

Stocks to Consider

Some better-ranked stocks in the same space are Jefferies Financial Group Inc. JEF, Columbia Financial, Inc. CLBK and Moody's Corporation MCO. While Jefferies Financial Group sports a Zacks Rank #1 (Strong Buy), Columbia Financial and Moody’s carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Jefferies Financial Group, Columbia Financial and Moody’s have delivered four-quarter earnings surprise of 341.27%, 28.73% and 22.28%, respectively, on average.

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