Synchrony teams up with CoFi to enable CareCredit payment solution

By Delisha Fernandes

Synchrony, a provider of consumer payments, has announced its partnership with CoFi, a patient payment platform.

Through this partnership, Synchrony’s CareCredit payment solution will now be integrated into the platform for the more than 2,000 ophthalmologists, optometrists, and surgery centres on CoFi’s network, allowing patients to use a CareCredit credit card to finance their consolidated care costs.

“Many elective vision care procedures involve multiple providers, such as the surgeon, surgery centre, hospital, and sometimes a co-managing optometrist. Bringing those providers together to create a single payment event for the patient has proven to be a win for patients,” said Sean Hanlon, Chief Executive Officer, CoFi. “We partnered with Synchrony because of their great reputation in healthcare financing, and it’s why we have named Synchrony our preferred patient financing provider.”

Synchrony’s CareCredit credit card allows people to pay for out-of-pocket costs not covered by insurance, like co-pays and deductibles or elective procedures. With Synchrony’s CareCredit credit card, patients can conveniently apply for the credit card in their provider’s office or on their mobile device, computer or over the phone and find out within minutes if they have been approved.

“Like CoFi, Synchrony is committed to offering a transparent payment experience for patients and providers,” said Greg Pierce, Senior Vice President and General Manager, Specialty, Synchrony. “Technology partnerships with organisations like CoFi, with the integration of the CareCredit credit card into their platform, further ease the financial workflows for providers and offer a seamless way for patients to finance their consolidated vision expenses in a way that works within their budget, so they can get the care they want and need.”