Gary,

I've used Care Credit for a number of years.

Chuck

Yes, been using it without any problems. The interest rates are offset by the fact that we have larger purchases with carecredit and we have the entire bill taken care of that same day!
It is definitely an option that some people love. We like it.
It is also good for the question, 'do you guys have a credit or payment plan for purchases?' We give them a carecredit brochure and check if they immediately qualify.

Also there is an online option available instead of an additional card terminal.

Stephen

we have been using care credit for several years esp for LVC and premium IOL upgrades

Steve,

Very good points.

I've been aboard with CAre Credit for a number of years. To date - few takers?

Perhaps we need something similar to Steve's approach? Or, I don't have too many electing to do high end?

Interesting concept that I've personally not found to be all that valuable? Ditto several other things that I thought would float my boat like 6 calls - out sourced recall via 6-call.

Some things just work better in one of our offices than nearby practices?

We just set it up Monday and have already had two people call about it this week. The 5.9% sounds right. Hoping it will keep people from slowly paying off their bills.

Reed, You do understand that YOU are paying the 5.9%, not the patient. I could not tell from your post if you thought that the 5.9% would keep people from paying slowly or if the fact that you would get the money up front would eliminate slow paying accounts. If it is the latter, that means that you are carrying your own paper. If that is the case, do you have more than 5.9% loss of collections to offset the interest that you will be paying?

I spoke with a doc a few years back who claimed that his patients who applied for Care Credit were usually rejected. his take: "If they have a credit card, they can use it at our office. If they don't have a credit card it is probably because they can't get one - and they won't qualify for Care Credit, either." Any truth to that thought from any docs using Care Credut?

Don,
We have been using it for several years. From what I can recall we have only had one person rejected. Some folks who use it don't have credit cards, others don't want to use it for whatever reason. It has not been a big difference maker to us, but it does give them another option if they choose to use it. No problems dealing with the company.

We have also been using Care Credit for years. I just looked on my collections report for 2011 and I had almost $70,000 in revenues just from 72 Care Credit users. In my particular area, many new patients have been referred to us from the Care Credit website. I would encourage anyone taking Care Credit to make sure you are listed on the website. It has also allowed me to increase CRT and Ortho K cases but many patients use it for exams, glasses and even contacts. We negotiated somewhat on the interest rates but just offer the ones that make the most sense to your practice. It has been a win-win for my office.

We use it too. Not to Chris' level (WOW!) But we do find it converts several folks to purchase in house. Always given to pts considering refractive surgery or elective surgery, always mentioned for optical. It works and the surcharge is relatively painless.