AAOS has entered a new partnership with CareCredit, a leading health, wellness, and personal care credit card business.
“When it comes to musculoskeletal care, AAOS is committed to supporting our members in providing the highest-quality care possible to their patients,” said Thomas E. Arend Jr, Es q., CAE, chief executive officer of AAOS. “Our partnership with CareCredit is just one more way we are helping AAOS members deliver that care with the tools that offer cost transparency and a convenient payment solution to their patients. Together, we aim to create comfortable and confident payment conversations at every stage of the financial journey so their patients can move forward with the proper treatment and care.”
“Rising out-of-pocket costs are creating new practice management challenges by generating a greater volume of patient accounts receivable,” said Gregory Pierce, senior vice president and general manager of CareCredit – Specialty. “The benefits of our partnership with AAOS are twofold: helping practicing orthopaedic surgeons and their staff improve the financial experience with educational tools and resources and helping practices improve cash flow by offering solutions that will enable their patients to pay for out-of-pocket costs.”
CareCredit, a Synchrony solution, allows patients to get the care they need by offering payment options that give them flexibility to pay deductibles, copays, coinsurance, and other out-of-pocket healthcare costs over time. Once cardholders are approved for CareCredit, they can continue to use the CareCredit credit card throughout CareCredit’s network of more than 230,000 healthcare locations and select health-focused retailers.
Offering patients payment options as part of pretreatment financial discussions can help solve challenges for both patients and healthcare teams, and CareCredit offers the experience and resources needed to help orthopaedic practices engage with patients to inform them of financial resources and available payment solutions easily and more effectively.
CareCredit is currently accepted across more than 30 medical specialty areas, including physical therapy, durable medical equipment, imaging, labs, ambulatory surgery centers, anesthesiology, primary care and general practice, women’s health, and urgent care. In addition to its partnership with AAOS, CareCredit has relationships with the Medical Group Management Association, the American Dental Association, the American Society of Plastic Surgeons, and the American Osteopathic Information Association.