New partnership is designed to allow dental practices to more effectively communicate CareCredit financing options to patients using RevenueWell marketing campaigns, text messaging, and website templates.
Patient engagement and communication solutions company RevenueWell has announced significant enhancements to its RevenueWell Marketing Platform as part of a new partnership with Synchrony and CareCredit
The latest updates are designed to allow dental practices to more effectively communicate CareCredit financing options to patients leveraging the full power of RevenueWell marketing campaigns, text messaging, and website templates. CareCredit’s health and wellness financial solution is part of Synchrony, a leading consumer finance company.
Additionally, new workflow enhancements for dental practices simplify the process of confirming and communicating pre-approvals, payment status, and pre-existing CareCredit accounts, further improving the ability to provide timely and accurate information about a patient’s payment and financing status.
New CareCredit Enhancement Benefits
• Personalized CareCredit URLs: By leveraging the latest CareCredit API, RevenueWell will take advantage of CareCredit personalized URLs (PURLs) for each patient, enabling CareCredit automation to pre-fill patient-specific information, and simplifying steps in the application process if someone has already been pre-approved or is an existing CareCredit card holder. With this process, the time required to fill an application is said to be significantly shortened for many patients, increasing the number of patients using CareCredit as a financing option and therefore the percentage of patients who can accept their treatment plan.
• Messenger Quick Links: Through enhancements to Messenger, practices can quickly send PURLs from within their real-time text conversations, providing just-in-time decision support for their patients navigating questions of payment and affordability.
• Campaign Merge Field and Filter: With the new enhancements, PURLs can be easily added to any campaigns, and dental practices can target an audience with relevant treatment options and promotions. Through RevenueWell’s advanced campaign features, users will now be able to include pre-approval as a targeting attribute alongside all other advanced targeting criteria such as treatment plan code. This is designed to enable practices to dramatically improve case acceptance by notifying patients with certain treatment plan codes that they are pre-approved for CareCredit financing.
• Off-the-shelf Content for Websites: RevenueWell’s ADA-endorsed web design services will now offer pre-designed and SEO-optimized web pages describing CareCredit services, enabling practices to showcase their financing options via any RevenueWell-designed website.
• CareCredit Payment, Pre-approval, and Payment Verification: These new enhancements make it easier to complete CareCredit workflows when the patient is in the office. Clicking on the patient’s pre-approved amount (or current cardholder) allows the practice to quickly accept or decline the pre-approval or process a payment. Another plus is that RevenueWell users can also easily check the status of a payment on behalf of a CareCredit user.
“We are thrilled to introduce these game-changing enhancements to RevenueWell Marketing Platform,” says Richard Juknavorian, Chief Product Officer of RevenueWell in a press release. “These upgrades take treatment financing to the next level, reducing the dependency on front desk workers to make awkward in-person pitches while enabling patients to take advantage of personalized, hassle-free financing options. We expect these improvements to drive significant improvements to both patient satisfaction and case acceptance rate.”
The new enhancements are included with most versions of RevenueWell Marketing Platform, including Professional and Premium editions, as well as any stand-alone implementations. Practices can link their CareCredit and RevenueWell accounts by following the link below to enter their CareCredit Merchant ID: plan https://p1.revenuewell.com/PracticeSettings/CareCredit
A Win-Win for Practices and Patients
With these changes, front-desk staff will no longer need to explain CareCredit options – the whole process will be managed on the patient side with minimal involvement from front desk staff. Common inquiries about pre-approvals and payment status can be handled quickly and easily with the new user interface enhancements.
In addition to improved efficiency, these latest updates are designed to improve case acceptance and patient satisfaction.
The main barrier to case acceptance is cost related to treatment. With these changes, dental patients will be more aware of their financing options, providing more opportunities for them to accept the care they need, reducing treatment backlog and increasing realized revenue, RevenueWell states.
According to a recent PYMNTS.com survey, patients are generally dissatisfied with their payment experience in healthcare—40% said they weren’t satisfied with their billing experience, 36% said they would switch providers if billing was too complex, and 27% said they would consider switching providers if they weren’t offered a payment plan or third-party financing. With these new enhancements, RevenueWell Marketing Platform reduces these potential patient satisfaction risks by simplifying the process and empowering patients with more options and more control.
The CareCredit enhancements were set to become available in the RevenueWell Marketing Platform on October 31 for all customers.