Sunbit, a financial technology company, announced in a news statement on Monday (Nov. 28) that they are doing so to give their patients funding that is accessible, fair, rapid, and transparent.
According to Sunbit Vice President of Dental Jay Letwat, there is a demand for such a product since millions of Americans are forced to choose between paying out-of-pocket or refusing needed care when faced with unanticipated dental bills.
“Even patients with private dental insurance face coverage limitations, which all but guarantee that any big procedure will also need a considerable out-of-pocket expenditure,” Letwat explained.
Technology can provide these patients with more payment choices. According to the press release, Sunbit, for example, provides both a no-fee credit card and a point-of-sale (POS) payment option.
Sunbit technology provides financing with payment plans ranging from six to 72 months and reports that 85% of patients who apply using its technology are approved. According to the release, well-qualified patients at participating practices can receive no-interest payment plans.
