Sycle, a company that develops audiology practice software, announced it has partnered with BoonFi, a second-chance financing provider, to offer hearing-aid financing for patients declined by traditional banks and prime and near-prime lenders. The partnership includes a complete integration within the Sycle software platform, enabling hearing health providers to provide financing to their patients with no extra work, according to the company. BoonFi is designed specifically for patients that are credit-challenged, living on fixed-income or limited-income budgets, or simply want to spread one large lump-sum payment into smaller, more affordable monthly payments.
BoonFi’s underwriting platform integration within Sycle is designed to enable providers to pre-qualify patients when making appointments, helping providers offer patients access to hearing devices within their price range and budget. According to the announcement, BoonFi pre-qualification is a soft credit check that does not affect the applicant’s credit scores and provides instant pre-qualification decisions.
Ridge Sampson, CEO of Sycle, said, “We integrated a patient financing tool into Sycle a few years ago and it quickly became one of our most popular solutions. We’re always looking for ways help improve access to hearing health care. Our mission is to facilitate the delivery of better hearing to the world. Partnering with BoonFi to extend the option of financing to even more patients made perfect sense and we couldn’t be more excited.”
“BoonFi looks forward to being of service to Sycle’s 20,000 daily users by helping eliminate the ‘sorry, you were declined’ patient experience for the 45+ million Americans that do not qualify for prime-financing programs,” said Kyle Ferguson, CEO of BoonFi.
Source: Sycle, BoonFi
Images: Sycle, BoonFi