Guest guest Posted February 27, 2009 Report Share Posted February 27, 2009 Hi Kath, I am usually too late in responding to things but in case it has not been said yet: Care Credit is a company that can be quite useful for those in practice. They are a 'credit card company' in the sense that your patient opens an account with them at a reasonable interest rate that they can use for health related services (chiros, acus, dentists - like to use it). You need a credit card machine in your office for this to work for you. So your patient can see you, you charge them, they swipe their card, it goes into your account and they receive a statement and bill just like a credit card. It is nice because you do not have to do anything, you get paid at the time of service, etc. They have the luxury of a pretty good interest rate and pay later type of account. I am sure you can find all the info. on their site. Brian Quote Link to comment Share on other sites More sharing options...
Guest guest Posted February 27, 2009 Report Share Posted February 27, 2009 Actually, with Care Credit, the patient pays absolutely no interest at all, it's a no interest credit card the interest of which the doctor's office picks up. I don't mind paying the interest because if a patient defaults, we've been paid and the card company must go after them. Dr. Don Chinese Medicine bharasha Thu, 26 Feb 2009 20:19:20 -0600 Care Credit Hi Kath, I am usually too late in responding to things but in case it has not been said yet: Care Credit is a company that can be quite useful for those in practice. They are a 'credit card company' in the sense that your patient opens an account with them at a reasonable interest rate that they can use for health related services (chiros, acus, dentists - like to use it). You need a credit card machine in your office for this to work for you. So your patient can see you, you charge them, they swipe their card, it goes into your account and they receive a statement and bill just like a credit card. It is nice because you do not have to do anything, you get paid at the time of service, etc. They have the luxury of a pretty good interest rate and pay later type of account. I am sure you can find all the info. on their site. Brian Quote Link to comment Share on other sites More sharing options...
Guest guest Posted February 27, 2009 Report Share Posted February 27, 2009 what do you estimate the interest costs you, on average? k On Fri, Feb 27, 2009 at 11:55 AM, Donald Snow <don83407 wrote: > > Actually, with Care Credit, the patient pays absolutely no interest at all, > it's a no interest credit card the interest of which the doctor's office > picks up. I don't mind paying the interest because if a patient defaults, > we've been paid and the card company must go after them. > > Dr. Don > > > To: Chinese Medicine <Chinese Medicine%40yaho\ ogroups.com> > bharasha <bharasha%40sbcglobal.net> > Thu, 26 Feb 2009 20:19:20 -0600 > Care Credit > > > Hi Kath, > > I am usually too late in responding to things but in case it has not been > said yet: > > Care Credit is a company that can be quite useful for those in practice. > They are a 'credit card company' in the sense that your patient opens an > account with them at a reasonable interest rate that they can use for > health > related services (chiros, acus, dentists - like to use it). You need a > credit card machine in your office for this to work for you. So your > patient can see you, you charge them, they swipe their card, it goes into > your account and they receive a statement and bill just like a credit card. > It is nice because you do not have to do anything, you get paid at the time > of service, etc. They have the luxury of a pretty good interest rate and > pay later type of account. I am sure you can find all the info. on their > site. > > Brian > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted February 27, 2009 Report Share Posted February 27, 2009 I guess I don't understand why Care Credit is a better option for the client or the provider than an ordinary credit card??? I accept credit cards and at the end of the month I divide the total charge by the total fees, and it costs about 5% of each charge when you accept cards. The card companies have a lot of hidden fees, batch closing, monthly statement, etc etc, which makes the actual cost a lot higher than the percentage you pay. Regards, Angela Pfaffenberger, Ph.D. angelapfa www.InnerhealthSalem.com Phone: 503 364 3022 - Chinese Medicine Friday, February 27, 2009 10:14 AM Re: Care Credit what do you estimate the interest costs you, on average? k On Fri, Feb 27, 2009 at 11:55 AM, Donald Snow <don83407 wrote: > > Actually, with Care Credit, the patient pays absolutely no interest at all, > it's a no interest credit card the interest of which the doctor's office > picks up. I don't mind paying the interest because if a patient defaults, > we've been paid and the card company must go after them. > > Dr. Don > > > To: Chinese Medicine <Chinese Medicine%40yaho\ ogroups.com> > bharasha <bharasha%40sbcglobal.net> > Thu, 26 Feb 2009 20:19:20 -0600 > Care Credit > > > Hi Kath, > > I am usually too late in responding to things but in case it has not been > said yet: > > Care Credit is a company that can be quite useful for those in practice. > They are a 'credit card company' in the sense that your patient opens an > account with them at a reasonable interest rate that they can use for > health > related services (chiros, acus, dentists - like to use it). You need a > credit card machine in your office for this to work for you. So your > patient can see you, you charge them, they swipe their card, it goes into > your account and they receive a statement and bill just like a credit card. > It is nice because you do not have to do anything, you get paid at the time > of service, etc. They have the luxury of a pretty good interest rate and > pay later type of account. I am sure you can find all the info. on their > site. > > Brian > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted February 27, 2009 Report Share Posted February 27, 2009 It is better for lower income people and for people with maxed out cards. It is simply a no interest or very low interest loan. Credit cards carry a high interest. A no interest card/loan can induce a patient to get treated when they otherwise would not. Dr. Don SNow Chinese Medicine angelapfa Fri, 27 Feb 2009 10:48:42 -0800 Re: Care Credit I guess I don't understand why Care Credit is a better option for the client or the provider than an ordinary credit card??? I accept credit cards and at the end of the month I divide the total charge by the total fees, and it costs about 5% of each charge when you accept cards. The card companies have a lot of hidden fees, batch closing, monthly statement, etc etc, which makes the actual cost a lot higher than the percentage you pay. Regards, Angela Pfaffenberger, Ph.D. angelapfa www.InnerhealthSalem.com Phone: 503 364 3022 - Chinese Medicine Friday, February 27, 2009 10:14 AM Re: Care Credit what do you estimate the interest costs you, on average? k On Fri, Feb 27, 2009 at 11:55 AM, Donald Snow <don83407 wrote: > > Actually, with Care Credit, the patient pays absolutely no interest at all, > it's a no interest credit card the interest of which the doctor's office > picks up. I don't mind paying the interest because if a patient defaults, > we've been paid and the card company must go after them. > > Dr. Don > > > To: Chinese Medicine <Chinese Medicine%40yaho\ ogroups.com> > bharasha <bharasha%40sbcglobal.net> > Thu, 26 Feb 2009 20:19:20 -0600 > Care Credit > > > Hi Kath, > > I am usually too late in responding to things but in case it has not been > said yet: > > Care Credit is a company that can be quite useful for those in practice. > They are a 'credit card company' in the sense that your patient opens an > account with them at a reasonable interest rate that they can use for > health > related services (chiros, acus, dentists - like to use it). You need a > credit card machine in your office for this to work for you. So your > patient can see you, you charge them, they swipe their card, it goes into > your account and they receive a statement and bill just like a credit card. > It is nice because you do not have to do anything, you get paid at the time > of service, etc. They have the luxury of a pretty good interest rate and > pay later type of account. I am sure you can find all the info. on their > site. > > Brian > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted February 28, 2009 Report Share Posted February 28, 2009 What I heard about care credit is if you don't make a payment on time, your interest rate can skyrocket. I did this with a dentist. She had a pretty sharp billing clerk who told me to make more than the minimum payment, e.g. 100 per month - to pay the dang thing off before I am a grandmother. Also she told me not to be late on a payment. I sheduled them to be paid monthly on my online banking. Given my busy schedule, could have been caught in this high interest business. Now, the other thing negative I heard was from the recent insurance seminar I attended. The speaker didn't like care credit, for similar reasons. If the account is not paid promptly, there is all kinds of collection stuff that goes on and your name is associated with the whole thing. I realize there are some here who have had positive experiences. Just passing on what I am hearing. Anne Anne C. Crowley, L.Ac., Dipl.Ac. www.LaPlataAcupuncture.com - " Angela Pfaffenberger, PH.D. " <angelapfa " Traditional " <Chinese Medicine > Friday, February 27, 2009 1:48:42 PM GMT -05:00 US/Canada Eastern Re: Care Credit I guess I don't understand why Care Credit is a better option for the client or the provider than an ordinary credit card??? I accept credit cards and at the end of the month I divide the total charge by the total fees, and it costs about 5% of each charge when you accept cards. The card companies have a lot of hidden fees, batch closing, monthly statement, etc etc, which makes the actual cost a lot higher than the percentage you pay. Regards, Angela Pfaffenberger, Ph.D. angelapfa www.InnerhealthSalem.com Phone: 503 364 3022 - Chinese Medicine Friday, February 27, 2009 10:14 AM Re: Care Credit what do you estimate the interest costs you, on average? k On Fri, Feb 27, 2009 at 11:55 AM, Donald Snow < don83407 > wrote: > > Actually, with Care Credit, the patient pays absolutely no interest at all, > it's a no interest credit card the interest of which the doctor's office > picks up. I don't mind paying the interest because if a patient defaults, > we've been paid and the card company must go after them. > > Dr. Don > > > Chinese Medicine <Chinese Medicine%40> > bharasha <bharasha%40sbcglobal.net> > Thu, 26 Feb 2009 20:19:20 -0600 > Care Credit > > > Hi Kath, > > I am usually too late in responding to things but in case it has not been > said yet: > > Care Credit is a company that can be quite useful for those in practice. > They are a 'credit card company' in the sense that your patient opens an > account with them at a reasonable interest rate that they can use for > health > related services (chiros, acus, dentists - like to use it). You need a > credit card machine in your office for this to work for you. So your > patient can see you, you charge them, they swipe their card, it goes into > your account and they receive a statement and bill just like a credit card. > It is nice because you do not have to do anything, you get paid at the time > of service, etc. They have the luxury of a pretty good interest rate and > pay later type of account. I am sure you can find all the info. on their > site. > > Brian > > Quote Link to comment Share on other sites More sharing options...
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