AxiaMed, an industry leader in payment technology, today announced a new collaboration with CareCredit, a healthcare credit card, to provide a secure, efficient patient payment experience through AxiaMed’s payment platform. CareCredit is a health and wellness credit card that can be used as a promotional financing option at more than 240,000 healthcare provider locations nationwide for medical care, cosmetic and dermatology procedures, LASIK and vision care, dentistry, veterinary, hearing care and other specialties. The innovative payment solution from CareCredit and AxiaMed is available on AxiaMed’s next-gen lineup of PAX Android payment devices.
CareCredit is used to pay for out-of-pocket expenses not covered by medical insurance – and includes promotional financing options that may not be available with general purpose credit cards. CareCredit works well for healthcare providers, offering a powerful advantage for both the patient and the practice. Providers can proactively inform a patient that there is an easy financing option – and they can receive an instant credit decision – helping to remove financial pressure from the payment discussion and allowing the patient to purchase the recommended services without delay.
“We’re delighted to partner with CareCredit to offer healthcare providers a unique, integrated solution designed to make it easier than ever to provide patients with the payment option of CareCredit,” said Randal Clark, CEO and co-founder of AxiaMed. “It’s an absolute win-win for everyone – providers want to offer CareCredit to patients as it enables them to purchase services they couldn’t otherwise afford and ensures payment to the practice; patients count on being able to use CareCredit in order to pay for treatments and services. And plugging into CareCredit won’t create any extra work or expense for independent software vendors (ISVs).”
The seamlessly integrated CareCredit and AxiaMed solution makes it much easier for healthcare providers and their Electronic Health Records system (EHR), Revenue Cycle Management systems (RCM) or Practice Management Software (PMS) systems to accept CareCredit transactions. Providers have digital access to signed receipt copies and see CareCredit transaction details displayed directly in their PMS. CareCredit cards, including the CareCredit® RewardsTM Mastercard, can be read and encrypted by AxiaMed’s PAX payment devices and payments will automatically be reflected in the patient’s ledger, just like any other card payment type. Not only can this reduce risk/fraud exposure for providers, but it makes it easier for patients to complete payments.
“Today’s patients expect options and flexibility,” said Shannon Burke, General Manager, Health Systems, CareCredit, a Synchrony Solution. “Our partnership with AxiaMed offers millions of CareCredit cardholders a more user-friendly payment experience with new, enhanced terminal technology that delivers a streamlined, convenient transaction.”
More than 11 million CareCredit cardholders can now have a low-friction checkout experience where they can easily view and compare monthly payment amounts, term lengths, and applicable interest rates on a responsive, HD touchscreen. Instead of sensitive discussions about financing healthcare costs and burdensome physical forms, patients and providers can enjoy privacy and efficiency in this innovative experience that clearly presents only the applicable financing options for each patient/provider/transaction combination. By leveraging the latest technology, AxiaMed can deliver this one-of-kind experience to patients while making it easier than ever for providers and technology partners to accept CareCredit at the point of care and beyond.