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Synchrony Financial's (SYF) Arm Ties Up With Epic App Orchard

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Synchrony Financial’s SYF solution CareCredit recently announced that its Patient Financing application is now accessible in the Epic App Orchard.

With the aid of this CareCredit Patient Financing app, health systems and care providers can use the Epic’s MyChart to offer patients feasible and easy transaction options. Notably, feasible and convenient financing options are currently being enjoyed by more than 12 million CareCredit cardholders.

This innovative solution will allow people an access to CareCredit’s smooth medical financing and customer service facilities. This enhanced technological innovation is expected to boost revenue cycle management and cut down on the debt level without the need of additional work.

With the implementation of CareCredit Patient Financing app from App Orchard, CareCredit cardholders can pay copays, deductibles and medical bills not covered by insurance.

All that a patient needs to do is to fill in the required payment information and choose a financing option that will suit respective budget. This move is made at the right time when more and more people are seeking feasible options for their heathcare payments. CareCredit supports individuals by enabling them to make payments for non-elective medical bills and routine medical care.

The solution helps patients with easy pays and healthcare services and aids hospital providers to run financially sound organizations.

The CareCredit Patient Financing app is now accessible to all Epic users in the App Orchard.

It is important to note that the CareCredit solution offered by Synchrony is one of the several financing solutions offered by the company. Accepted by more than 250,000 providers and health-focused retail locations, the CareCredit health and wellness credit card is consistently offering an integrated and easy-to-use payment option, thereby accelerating decisions regarding treatments and procedures, which are not covered by insurance.

It’s needless to say that additional financing options aid people in taking informed and faster decisions about choosing treatment options per the needs of their families.

Furthermore, this latest tie-up seems to be time opportune amid the uncertainties induced by the COVID-19 pandemic, ranging from health to financial woes. At a time when financial burdens are raging across the United States, people are in dire need of feasible payment options for meeting the unavoidable healthcare expenses.

Last December, CareCredit tied up with RevSpring in a bid to facilitate seamless integration of CareCredit’s credit card application and payment option with RevSpring’s payment gateway PersonaPay.

Notably, Synchrony made several investments in boosting the CareCredit business by collaborating with multiple healthcare providers, which in turn, positions its CareCredit platform well for growth.

The company’s CareCredit platform also holds ample growth potential. The company is focused on expanding this business with attention paid to the health systems. It is worth mentioning that CareCredit is accepted at more than 9,000 Walgreens and Duane Reade stores.

Sound performance of the CareCredit platform and Synchrony’s efforts to boost its digital capabilities are likely to simplify the ways of consumer financing and also enable companies to enrich customer experiences.

Shares of this currently Zacks Rank #1 (Strong Buy) company have skyrocketed 183% in the past year, significantly outperforming the industry’s 35.3% rally. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other companies in the same space, such as Jefferies Financial Group Inc. JEF, Discover Financial Services DFS and American Express Company AXP have also soared 126.9%, 167% and 67.6%, respectively, in the same time frame.

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