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today Greater New York Dental Meeting Dec. 1, 2015

exhibitors32 Greater New York Dental Meeting — Dec. 1, 2015 By CareCredit Staff n When making elective health- care decisions, consumers conduct extensive and simultaneous research into both the procedure and how they are going to pay for it, according to a study* conducted on behalf of Care- Credit, a leading health-care financ- ing company. The “Consumers’ Path to Health- care Purchases Study” sought to gain a deeper understanding of the unique way consumers research, consider and purchase health-care services in six medical specialties: dentistry, ophthalmology, optometric care, vet- erinary care, cosmetic procedures and hearing health. The findings can help health-care providers better serve the informational and financial needs of consumers seeking elective treatment for themselves, their fam- ily members and their pets. The study, conducted in the third quarter of 2014, found that the path to across all health-care categories reviewed is comprehensive, with consumers taking an average of five stepsandanaverageof76daystocon- duct research. The complexity of the research process that patients and clients undertake before committing to a significant elective health-care purchase is influenced by the level of need, cost, how insurance benefits impact out-of-pocket expenses and perceived risk. Consumer research is conducted online and off, including a prelimi- nary visit to the provider’s office and discussions with family and friends. Cost is not researched independ- ently; rather it is considered at the same time as other factors, including whether to invest in the procedure or device itself and the selection of provider. Seventy percent of respondents said they researched the procedure, while73percentsaidtheyresearched costs, including the availability of financing. “These findings underscore that cost and the availability of financing options are important factors in elec- tive health-care purchases, leading consumers to research both the treat- ment and payment options exten- sively and at the same time,” said Dave Fasoli, CEO, CareCredit. “Under- standing how consumers approach their health-care decisions and the critical role of financing in consider- ing a provider and a purchase are valuable insights to help ensure they have relevant information to make informed decisions.” Other findings from the study include: • The vast majority (90 percent) of CareCredit cardholders said that financing is a tool that helps them be prepared for unplanned health expenses. • Nearly half (47 percent) of Care- Credit cardholders surveyed would not have made the purchase or would seekanotherprovideriftheirsdidnot have financing available. • Nearly 80 percent of all respond- ents said financing makes it easier to budget for their health-care pur- chase. • The majority (75 percent) of CareCredit cardholders are likely to use their card again. • An average of 76 days is spent on research across the six health-care categories studied — dentistry, oph- thalmology, optometric care, veteri- nary care, cosmetic procedures and hearing health — with cosmetic pro- cedures taking the longest amount of time at nearly 145 days. The study was conducted by Roth- stein Tauber, Inc., on behalf of Care- Credit and included an online survey of nearly 2,000* consumers who had made an elective health-care pur- chase in the past 12 months or who werelikelytomakeanelectivehealth- care purchase in the next 12 months. The study offers insights and behav- ioral data previously not available to doctors who provide elective care and can be used to shape effective strate- gies and best practices that help more patients get treatment and care. A summary of the study’s findings can be found at www.carecredit.com/ newsroom. *Respondent size of 1,954 included 496 CareCredit cardholders and 1,458 CareCredit non-cardholders who had made an elective health-care purchase in the past 12 months or are likely to make an elective health-care purchase in the next 12 months. Study: Consumers consider procedure and costs equally in making elective health-care decisions CareCredit study shows extensive research includes financing options Here at the GNYDM For more information on CareCredit, call (800) 300-3046, visit www.care credit.com or stop by the booth, No. 4212. 5 (Graphs/Provided by CareCredit)

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