Patient paying no interest

8 Reasons Care Cap Plus is a Better Payment Option for Your Patients

As a healthcare provider, you may think you or your business manager have checked the box on patient financing by simply offering a medical credit card like CareCredit or another financing option such as a medical loan. But if you haven’t taken a close look at your practice’s patient financing options, chances are you are losing potential patients who have lower credit scores but are capable of paying and you’re setting up your patients for predatory practices and your practice for bad PR.  

Many medical credit cards and other financing options tout “interest and fee-free” promotions –  an alluring enticement to patients. But read the fine print and you’ll quickly realize that your patients face the prospects of huge balloon payments, steep penalties, retroactive interest, and damage to their credit scores if they enroll, miss or are late on a single payment, or fail to pay off the balance within 12 months. During the pandemic, some patients learned the hard way that many of these medical payment options are predatory and amount to high-risk payment traps. 

Enter Care Cap Plus, a patient-friendly and practice-enhancing alternative payment solution that extends care to patients with no interest, no fees, no hidden costs, and no fine print. Medical providers reap 30% of the cost of the procedure up front, and then receive the balance in monthly installments after that. Best of all, they earn the goodwill of their patients.

With Care Cap Plus, you will:

  1. Grow your practice. By looking at patients’ entire financial profiles, Care Cap Plus can accept patients with credit scores as low as 400, significantly expanding your potential pool of patients. That means you’ll never lose a patient again because they didn’t qualify for a credit card or medical loan due to a low credit score. Medical financing companies like CareCredit, on the other hand, require patients to have a credit score of 620 or higher to be approved.
  2. Accept more patients. Care Cap Plus accepts upwards of 97% of applicants, while CareCredit rejects 1 in 8 applicants (1).  
  3. Pay less in processing fees. Care Cap Plus providers receive 87% of the total patient balance. CareCredit averages 86.5% to the provider (2).
  4. Have predictable cash flow. After you receive 30% upfront from Care Cap Plus, patients’ balances are paid to you over 12 months. Patients who use Care Cap Plus have a default rate of less than 1%, ensuring you a steady monthly cash flow. 
  5. Save on administrative and attorney collection costs. For practices with a self-payment plan option, Care Cap Plus takes providers out of the business of chasing patient payments and allows you to focus on what you do best: practicing medicine. One provider saw a 75% drop in patients sent to hard collections in the last year with Care Cap Plus.
  6. Maintain stronger patient relationships. Since patients never enter into any form of contract or payment obligation directly with Care Cap Plus, you retain the direct patient relationships. Patients appreciate that providers absorb the small servicing fee. On average, 88.4% of patients say they would choose the same provider again because it offers Care Cap Plus. 
  7. Have happier patients. Patients who use Care Cap Plus pay ZERO interest and NO fees – ever. In contrast, patients who use CareCredit are subject to retroactive interest fees as high as 26.99% APR if they are late on even one payment or fail to pay the full balance due prior to the end of the promotional period. 
  8. Create a Referral Stream. 90% of patients say they would be likely to refer friends and family to a provider who offers Care Cap Plus. 

Not convinced Care Cap Plus is a better option for your practice and your patients versus a medical credit card option or loan?  Then consider this statistic: Over 15 million consumers who were not offered payment plans and opted to forgo elective procedures said they would have paid for those services if they had been offered the option to do so in installments.

Isn’t it time you add Care Cap Plus to your patients’ payment plan options? Call us today and you can start offering Care Cap Plus to your patients as soon as tomorrow.


(1) Based on Finance Global report.

(2) CareCredit provider fees vary depending on plan selection.