Synchrony (SYF) Offers Financing Options in Dental Care
Synchrony Financial SYF recently unveiled a five-year collaboration with the renowned specialty dental practice support services provider, Specialty1 Partners. The tie-up will pave the way for SYF’s CareCredit health and wellness credit card to assume the role of the premier financing solution for a network of 225-plus Specialty1 Partners-backed endodontic, periodontic and oral surgery offices located nationwide.
CareCredit will provide payment education and training, extensive financing options and resources to assist the partner practices of Specialty1 Partners. This, in turn, will enable providers and patients to hold necessary discussions on costs so that patients can get a better understanding of the management of out-of-pocket dental costs. At the same time, offering increased access to more dental care treatment options for patients also remains a notable motive of the latest partnership.
In fact, the bundled benefits that the CareCredit health and wellness credit card provide to patients and providers are commendable. The patients can reap the benefits in the form of swift credit decisions, varied financing options to avail dental care at both general and specialist dentists as well as access to the Provider Locator in order to discover a nearby specialist. The availability of diverse financing option, in fact, relieves patients from the hurdle of making lumpsum payments, which puts a strain on finances.
For providers, the CareCredit card assures the reimbursement of payments made by patients within two business days. It also takes care of the administrative processes of practice clients by managing the collection and payment process.
CareCredit boasts a solid presence in the healthcare space and is integrated in over 80% of dental practice management software solutions across the United States. It is accepted by more than 266,000 nationwide providers and health-focused retail locations.
Partnerships similar to the latest one are expected to boost the presence of CareCredit across the dental care space. It has already established its mark amid the industry, evident from its endorsements made by some of the leading dental associations, namely the American Dental Association, the Academy of General Dentistry and the American Association of Dental Office Management.
The recent move may also be identified as an effort of Synchrony Financial to bolster partner networks. By expanding the reach of its financing solutions, it also tends to bolster the purchasing power of consumers and reduce the hurdles in the way of patients in availing quality health care. SYF pursues uninterrupted efforts to offer advanced credit products best suited for addressing evolving customer expectations and serving diversified industries. Such initiatives attract newer partners as well as retain existing ones and lead to bolstered credit lines, increased repeat sales and a greater customer lifetime value.
Shares of Synchrony Financial have dipped 0.7% in a year compared with the industry’s 2.8% decline. SYF currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Finance space are Fidus Investment Corporation FDUS, BlackRock Capital Investment Corporation BKCC and Americold Realty Trust, Inc. COLD. While Fidus Investment currently sports a Zacks Rank #1 (Strong Buy), BlackRock Capital and Americold Realty carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Fidus Investment outpaced estimates in each of the last four quarter, the average surprise being 9.52%. The Zacks Consensus Estimate for FDUS’s 2023 earnings suggests an improvement of 30.3% from the year-ago reported figure, while the same for revenues suggests growth of 35.4%. The consensus mark for FDUS’s 2023 earnings has moved 5.6% north in the past 30 days.
BlackRock Capital’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 12.88%. The Zacks Consensus Estimate for BKCC’s 2023 earnings suggests an improvement of 20% from the year-ago reported figure, while the same for revenues suggests growth of 37.8%. The consensus mark for BKCC’s 2023 earnings has moved 4.3% north in the past 30 days.
The bottom line of Americold Realty outpaced estimates in three of the last four quarters and matched the mark once, the average surprise being 8.81%. The Zacks Consensus Estimate for COLD’s 2023 earnings suggests an improvement of 13.5% from the year-ago reported figure. The consensus mark for COLD's 2023 earnings has moved north 4.1% north in the past 30 days.
The Americold Realty stock has gained 14.5% in a year. However, shares of Fidus Investment and BlackRock Capital have declined 4.1% and 9.7%, respectively, in the same time frame.
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