Financing Options in Healthcare: What Providers Should Offer (and Why Many Choose CareCredit)

Healthcare costs can add up quickly and may deter patients and clients from proceeding with recommended care. In fact, according to Synchrony’s Healthcare Journey Research Consumers and Providers study, more than half of patients surveyed said they struggle to pay for out-of-pocket health and wellness expenses.¹ That reality makes it increasingly important for providers to think carefully about how they structure and present payment options.

Patient financing can help alleviate financial burdens, giving patients and clients a clearer path forward on their health and wellness journeys. At the same time, certain solutions have built-in advantages for practitioners.

This guide breaks down common patient financing options, including the potential benefits and limitations of each, so you can determine which will work best to support your patients or clients and your practice or business.

Why Patient Financing Matters for Your Practice

Research shows that cost concerns continue to shape patient behavior. In Synchrony’s study, 53% of respondents said they delay health or wellness care due to out-of-pocket expenses, while 76% said they would seek more health and wellness services if they had ways to pay for them.¹

That gap between intent and action is where patient financing can make a meaningful difference. These plans allow patients and clients to spread out payments over time, helping them budget for one-time, follow-up and multi-visit treatments. Patient financing can also reduce sticker shock moments when a bill leaves patients feeling overwhelmed about having to pay the full amount all at once.²

From an operational perspective, having financing options readily available can also support your staff. Front-desk teams often feel more confident discussing costs when they can offer a selection of payment options rather than a single pay-in-full expectation.

Over time, practices that integrate financing more may see higher treatment acceptance rates, fewer cost-related reschedules and more consistent payment timelines. (For instance, CareCredit providers are paid within two business days.)

Top Patient Financing Options for Providers (and What They Mean for Your Practice)

Deciding which financing options to offer your patients or clients can impact the entire patient experience, including whether they choose your practice to begin with. According to Synchrony’s study, 59% of patients surveyed rated the availability of a variety of payment options, including special financing, as being extremely important or very important to them when deciding where to go for treatment.¹

Here’s a closer look at how the most common options compare:

Pay in full at time of service (cash, check, debit)

• Why it works: This is the most straightforward option from an operational standpoint. Payment is collected immediately, and there’s no need for follow-up billing.
• Where it can fall short: Many patients simply don’t have the funds available at the time of service, especially for higher-cost care. When this is the only option, patients or clients may delay treatment or opt out entirely, resulting in lower case acceptance and more last-minute cancellations.

In-house payment plan (provider financing)

• Why it works: Offering payment plans directly through your practice can help build trust and encourage patients to pursue care. It also gives you control over the terms and conditions and the flexibility to tailor each plan as needed.
• Where it can fall short: Managing in-house financing can add complexity. Tracking payments, sending reminders and handling missed installments can create administrative strain. There’s also the possibility of missed or late payments, particularly as past-due healthcare bills remain common: One study found that in 2024, 21% of U.S. households had a past-due healthcare bill.³ Additionally, these plans are typically limited to your practice or business and don’t extend to other care needs, so they aren’t as appealing to patients and clients as more widely accepted financing options.

General-purpose credit card

• Why it works: Many patients and clients already have personal credit cards, and accepting them as payment requires minimal practice setup.
• Where it can fall short: Credit card limits may not be sufficient to cover higher treatment costs, and interest often begins accruing immediately if balances aren’t paid off. A 2026 Bankrate study found that 12% of people who carry a balance on their credit cards say the biggest reason for their debt was an emergency or unexpected healthcare bill.⁴ For some patients and clients, credit card payments can worsen financial pressure rather than alleviating it.

Personal and healthcare loan

• Why it works: When a patient takes a loan to pay for care, your practice will be paid in full. The patient or client can also benefit from access to large amounts with fixed, predictable repayment terms.
• Where it can fall short: Taking out a loan requires the patient to go through a separate lender application process, which could create friction at the point of payment. Depending on the lender, the patient or client may also have to wait several days for approval and funding, which could delay care decisions.

HSA and FSA

• Why it works: Patients and clients who have access to a health savings account (HSA) or flexible spending account (FSA) can use those pretax funds to pay for eligible out-of-pocket health costs. Since patients can typically pay directly using a debit card without submitting reimbursement claims, accepting these payments streamlines checkout, a plus for providers.
• Where it can fall short: HSA and FSA account balances are often limited and may not fully cover higher-cost treatments. Not all patients have access to these types of accounts either. As of the end of 2024, an estimated 59 million Americans were covered by an HSA.⁵ That’s only about 17% of the 342 million people in the U.S.⁶

CareCredit health and wellness financing

• Why it works: CareCredit is designed for healthcare expenses across many specialties, making it a trusted option — one in 10 U.S. households has or has had a CareCredit account, and it’s accepted at more than 290,000 locations. Patients and clients can start with a fast, six-second Prequalification process that has no impact to their credit score, and if approved, they can use their account the same day. CareCredit offers two main financing promotions, deferred interest and reduced APR. Promotional financing options that provide clear repayment timelines and payment expectations (terms vary) can help patients and clients commit to treatment. Because it’s a credit card, CareCredit can also support phased treatments and follow-up visits.
• Where it can fall short: Like any financing solution, it works best when teams actively incorporate it into patient conversations. Patients and clients also need to understand deferred interest promotional terms clearly, particularly that interest may be added to the account if the promotional balance is not paid in full by the end of the promotional period.

Why CareCredit Fits Provider Needs

CareCredit is built around the way healthcare expenses are typically incurred — over time, often in multiple phases and sometimes unexpectedly. That alignment with real life can make it a practical fit for many practices.

Here are a few core reasons why CareCredit may be the ideal fit for your practice:

• Offers promotional financing. CareCredit offers deferred interest promotional financing on qualifying purchases at participating providers (terms vary by provider and purchase amount). This promotional financing offer can help guide cost conversations with patients and clients without requiring providers to adjust pricing. According to the National Patient Advocate Foundation, these types of cost-of-care conversations are most effective when providers introduce them early and revisit them throughout the patient journey, not just at the point of payment.⁷ Providing patients with a clear payoff window and the opportunity to avoid interest if they meet the promotional terms can encourage them to move forward with recommended care.
• Supports higher-cost treatment plans. In many cases, the barrier to care isn’t the total cost — it’s the timing. By spreading payments over a set period, CareCredit can help address the “timing gap” that sometimes causes patients and clients to postpone treatment or choose a less expensive course of action. Having a financing option can help convert hesitant patients from “not today” or “I have to think about it” into confident patients who schedule the right level of care for their wants and needs.
• Widely accepted — and can help attract new patients or clients. Because CareCredit is accepted across a wide range of specialties, patients or clients may be able to use it beyond a single visit or provider. This continuity can reduce repeated financial friction and support longer-term care plans. CareCredit is accepted at more than 290,000 locations and spans 50+ specialties, including dental, vet, cosmetic, vision, hearing and more. And some patients, especially CareCredit cardholders, may seek providers who accept CareCredit, potentially increasing a participating provider’s visibility through the CareCredit network.

CareCredit vs. Alternative Payment Options

Here’s how CareCredit compares at a glance:

How to Offer CareCredit Patient Financing in Your Practice

Getting started with CareCredit typically begins with a simple, quick enrollment process. Once the form is filled out, a dedicated team member will be in touch to learn more about your practice needs, explain how CareCredit works and help you finish signing up.

Support may include guidance on implementation, staff education and best practices for promoting CareCredit as a financing solution and introducing it into patient or client conversations. The goal is to ensure that CareCredit becomes a natural part of the overall patient experience.

Learn More: Discover how CareCredit worksand how to get started in four easy steps.

FAQs About Health and Wellness Financing and CareCredit for Providers

Here are some answers to commonly asked questions providers have about patient financing and CareCredit:

What if my practice already has an in-house plan — do we still need another option?

CareCredit can complement or replace in-house financing by reducing your team’s administrative responsibilities while still giving patients and clients a flexible way to pay. Many practices use it to expand their financing options without taking on additional billing and collection tasks.

Do providers that accept CareCredit get paid up front for the treatment, even if the patient pays over time?

Yes. Providers are paid within two business days after a transaction is processed, while CareCredit manages patient repayment separately.

Will prequalification impact a patient’s credit score?

No. Prequalification uses a soft credit check, which does not affect a patient’s credit score.

How should practices introduce financing options to patients?

Financing is most effective when it’s introduced early and presented as a standard part of the patient experience. Many practices include it during treatment planning, cost estimates and pre-visit communications so patients and clients can consider their options before making a decision.

Can CareCredit be used for follow-up visits or additional treatments?

Yes. Because CareCredit is a credit card, approved patients and clients can use it for future visits, follow-up care or additional treatments as long as it’s accepted by the provider.

A Patient Financing Solution for Health and Wellness Providers

If you are looking for a way to connect your patients with flexible financing that empowers them to pay for the care they want and need, consider offering the CareCredit credit card as a financing solution. CareCredit allows cardholders to pay for out-of-pocket health and wellness expenses over time while helping enhance the payments process for your practice or business.

When you accept CareCredit, patients can see if they prequalify with no impact on their credit score, and those who apply, if approved, can take advantage of special financing on qualifying purchases.^* Additionally, your practice or business will be paid directly within two business days.

Learn more about the CareCredit credit card as a patient financing solution or start the provider enrollment process by filling out this form.

Author Bio

Dawn Papandrea is a journalist with more than two decades of experience covering personal finance and consumer issues. She has written for leading financial publications and organizations, including U.S. News & World Report, Investopedia, Bankrate and others.

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