The Best Alternatives To Sunbit: Credee, Afterpay, And CareCredit

  • Vishali
  • July 17, 2023
Alternatives to Sunbit

Solutions to Healthcare Payment Plan Obstacles - Credee

With the increasing unemployment rate, many cannot even get proper insurance coverage. They prefer providers offering affordable payment options, like Sunbit.

What Is Sunbit?

Sunbit is a payment solution that allows people to pay for things in easy installments. It lets them split their bills into smaller, manageable amounts so they don't have to pay all at once. Businesses like car repair shops, medical clinics, and retailers use it across the U.S. to offer affordability to their clients.

How Does It Help Manage Medical Expenses?

Many merchants and healthcare providers use Sunbit software to offer payment plans to customers at checkout. Patients can pay for medical expenses such as doctor visits, prescriptions, or procedures. Instead of paying a large amount upfront, they can pay in installments over time, experiencing reduced financial burden and easier budgeting for their healthcare needs. 

However, to get approved for Sunbit, patients need to undergo a soft credit check. So, if they have slightly poor credit scores, they can face rejection. In that case, as a healthcare provider, you may want to look for alternatives to ensure more patients can access your medical services.

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What Are The Alternatives To Sunbit?

While Sunbit is a popular payment option, you should also explore other alternatives to Sunbit like Afterpay, CareCredit, and Credee.

1. Afterpay

Afterpay is a popular "buy now, pay later" (BNPL) service that allows patients to pay off their medical bills in four to six weeks.

However, patients usually need to pay 25% of the amount upfront and the rest in four no-interest installments.

The process is simple for customers:

  • The customer selects Afterpay as the payment method at checkout.
  • It splits the total purchase amount into four equal payments. 
  • The customer pays the first installment at the time of purchase and the remaining three payments over 4-6 weeks as specified by the provider.

Exploring Alternative Financing Options for Small Businesses.

Here’s how Afterpay helps providers like you:

  • Upfront payment: When a customer uses Afterpay, you get paid within days minus the company’s BNPL fee.
  • Minimizes risk: The risks, such as chargebacks, defaults, or fraud, shift to the collection company. So you can focus on growing your business.
  • Provides transactional records: You can access transactional data to check and reconcile your financial accounts.

2. CareCredit

CareCredit is a popular option that works as an alternative to medical credit cards. It allows patients to finance their medical expenses. Additionally, it provides various customer financing options, including interest-free and extended payment plans.

Hence, it allows patients to choose what works best for their financial situation. The patients usually need a credit score of 640 or better to get approved.

The application process is straightforward, and if approved, patients can use their CareCredit card to pay for a range of medical services.

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3. Credee

Credee is quickly becoming a popular choice for healthcare providers and patients. Unlike Afterpay, CareCredit, and Sunbit, Credee has a “No Credit Check” policy, which makes it ideal for all patients, regardless of their credit scores.

It’s a unique payment plan management software that lets you instantly create payment plans for your patients. Credee handles everything, from payment reminders to collections, and also provides payment protection. It means healthcare providers choosing Credee don’t have to worry about payments.

Here are the key benefits of using Credee:

  • Instant approval 
  • Flexibility to create custom payment plans
  • Recurring payments
  • Improved patient satisfaction and loyalty
  • Protected payments
  • Easy web and API integration 
  • Automated payment plans to monitor 
  • Increased revenue

A brief comparison Of Sunbit, Afterpay, CareCredit, and Credee

  Sunbit Afterpay CareCredit Credee
Approval rate 90% Approval Approx. 70% or less Low approval rate for patients with poor or bad credit scores 97% approval rate
Credit Check Requirement Soft Credit Check Soft Credit Check Credit Score of 640 or better is required No Credit Checks
Interest Varies based on creditworthiness 4 interest-free installments Varies based on credit scores Lower interest rate
Upfront Payment Down payment required 25% upfront payment No upfront costs Optional/Flexible
Plan Duration 3-24 months 4-6 weeks 6-24 months 3-48 months or more
Other 3-month deferred interest plan Easy integration with website and app   *Web and API Integration
*Reporting payments to credit bureaus
        *Payment Protection
*Flexible installment options

Final Thoughts

Sunbit, Afterpay, CareCredit, and Credee are affordable payment options that help alleviate the financial burden of your patients.

While Sunbit offers installment plans, Afterpay allows customer financing options, minimizing risks for providers. On the other hand, CareCredit offers various financing options, requiring a credit score of 640 or better.

However, Credee stands out with its "No Credit Check" policy, instant approval, payment protection, and flexible healthcare payment plans. It ensures hassle-free payment management for healthcare providers, among many other benefits. Consider exploring Credee as a comprehensive payment solution for your practice.

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