Navigating Healthcare Costs: Evaluating In-House Financing Plans and Third-Party Financing Partners
Download MP3In this episode of the MGMA Business Solutions Podcast, host Daniel Williams welcomes back Claude Royster, VP and GM of Health and Wellness at CareCredit and Synchrony. Claude shares insights on how rising healthcare costs are impacting patient decision-making and practice operations. He highlights why evaluating in-house financing solutions and exploring third-party partnerships can be critical for improving access to care and easing administrative burdens.
Claude also discusses:
- Why one in two patients delay care due to cost
- What providers are saying about financial barriers in care delivery
- The benefits of integrating third-party financing into EHR and billing platforms
- How CareCredit’s solutions can help improve patient access, reduce provider risk, and streamline operations
Key Discussion Points:
- [02:30] Claude’s role at Synchrony and CareCredit
- [04:30] How economic trends and inflation are shaping patient behavior
- [06:15] Survey data on care delays due to cost
- [08:00] In-house financing: Opportunities and challenges
- [11:00] Integrating third-party financing options
- [14:15] How CareCredit integrates with leading ISV platforms
- [17:00] Tools and training available to help providers have transparent financial conversations
- [20:00] Claude’s message to healthcare leaders navigating rising costs
Resources:
- CareCredit Provider Education Resources
- MGMA Sponsored Whitepaper - The Role of Third-Party Financing in the Health Payment Landscape
- MGMA Member Community Discussions
- CareCredit Research - How Cost Impacts the Patient and Provider Journey
- Connect with Claude Royster on LinkedIn
- MGMA DataDive — Benchmark data to guide smarter decision-making
Podcast Disclosure: This content is subject to change without notice and offered for informational use only. You are urged to consult with your individual business, financial, legal, tax and/or other advisors with respect to any information presented. Synchrony and any of its affiliates, including CareCredit, (collectively, “Synchrony”) makes no representations or warranties regarding this content and accept no liability for any loss or harm arising from the use of the information provided. Your receipt of this material constitutes your acceptance of these terms and conditions.
