HFMA Renews Peer Review Designation for Synchrony

CHICAGO, April 27, 2023 (GLOBE NEWSWIRE) -- The Healthcare Financial Management Association (HFMA) today announced that, following rigorous review, Synchrony (NYSE: SYF) has once again achieved the “Peer Reviewed by HFMA®” designation for its CareCredit credit card.

Synchrony’s CareCredit is a health and wellness credit card that patients can use to pay for deductibles, for treatments and procedures that are partially covered or not covered by insurance, and for other health and wellness services for individuals and their pets. It is accepted at more than 266,000 provider and retail locations nationwide.

Patients can conveniently apply for CareCredit 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. They can select from short-term and long-term financing options. Additionally, patients can use the CareCredit payment calculator to help estimate their monthly payments based on the amount of care financed and the financing option selected.

“In today’s complex financial landscape, it’s important for providers to be able to easily identify third-party financial partners they can trust – which is why we’re honored and excited to be recognized once again by HFMA,” said Shannon Burke, general manager, Health & Wellness, Synchrony. “With a comprehensive suite of financing solutions, Synchrony equips health and wellness providers with the modern technology and data tools to meet the demands of today’s consumers, while also improving financial workflows and simplifying revenue cycle management.”  

HFMA's Peer Review process provides healthcare financial managers with an objective, third-party evaluation of business solutions used in the healthcare workplace. The rigorous, 11-step process includes a Peer Review panel review composed of current customers, prospects who have not made a purchase, and industry experts. The Peer Review status of the healthcare business solution and its performance claims are based on effectiveness, quality and usability, price, value, and customer and technical support.

“We’re pleased to have Synchrony’s CareCredit credit card renew their HFMA Peer Reviewed designation,” says HFMA President and CEO Joseph J. Fifer, FHFMA, CPA. “The HFMA Peer Review process assures our members, through a rigorous evaluation, that the reviewed healthcare business solution meets an objective, third-party assessment of overall effectiveness, quality, and value."

About HFMA  
The Healthcare Financial Management Association (HFMA) equips its more than 100,000 members nationwide to navigate a complex healthcare landscape. Finance professionals in the full range of work settings, including hospitals, health systems, physician practices and health plans, trust HFMA to provide the guidance and tools to help them lead their organizations, and the industry, forward. HFMA is a not-for-profit, nonpartisan organization that advances healthcare by collaborating with other key stakeholders to address industry challenges and providing guidance, education, practical tools and solutions, and thought leadership. We lead the financial management of healthcare.

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry’s most complete digitally enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our “partners.”  We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.

Press inquiries should be directed to:  

Brad Dennison    
Healthcare Financial Management Association  
(708) 492-3385

Michelle Blaya Romero
(626) 250-1415