The average of earnings surprises is 8.1%. Shares of Synchrony have gained 5.4% year to date compared with the industry’s growth of 11.5%.Īxos Financial’s bottom line outpaced estimates in each of the trailing four quarters. Synchrony connects to its partners and customers through a dynamic financial ecosystem. It works with a diverse group of retailers, manufacturers, buying groups, merchants, industry associations and healthcare service providers, referred to as “partners”. Synchrony provides financing solutions to its customers. There are short- and long-term financing options, providing flexibility to the user. Once approved, patients are expected to utilize the credit card to pay dentists. However, dental patients can check if they prequalify for the credit card and fill up the application.
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Patients can benefit from CareCredit when their medical insurance does not cover their full costs or to avail of special financing options that may not be available in other cards. Synchrony aims to provide dental patients access to treatments in a hassle-free way and provide dentists with educational resources, enabling them to deliver the best clinical care available. SYF’s collaboration with AGD highlights special financing options like value-added resources and digital payment features that CareCredit will provide to AGD’s members, comprising 35000 dentists. This collaboration will lead to increased contributions from this segment and a rise in the loan receivables portfolio, paving the way for higher interest income and fees on loans. Health and Wellness accounted for 16% of the total revenue of SYF in 2022. With SYF collaborating with AGD, it is evident that the company is focused on expanding the business with attention paid to health systems. Synchrony Financial SYF and The Academy of General Dentistry (“AGD”) announced the extension of their 20-year agreement, making CareCredit, an exclusive patient financing solution offered in AGD’s benefits program.
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