Market Overview

CareCredit Offers More Finance Options to More Patients and Providers by Expanding into 25 New Markets

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The CareCredit Health, Wellness and Personal Care Credit Card
Issued by Synchrony Bank Helps Providers Grow While Helping Patients
Meet Challenge of Rising Healthcare Costs

CareCredit, the health, wellness and personal care credit card dedicated
to helping people get the care they want and need, is broadening its
scope with providers, adding more than 25 new markets where the card is
accepted.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180802005146/en/

(Graphic: Business Wire)

(Graphic: Business Wire)

CareCredit's growth is taking it into medical specialties including
primary care and general practice, gastroenterology, physical therapy,
ambulatory surgery, durable medical equipment and urgent care. The card
can be used for deductibles, co-pays, planned medical procedures
including orthopaedic surgery, annual wellness visits, imaging, labs and
other out of pocket costs.

These markets
build upon CareCredit's more than 30-year health and wellness experience
and deep relationships in the veterinary, optical, dental and cosmetic
markets.

In addition to expanding in these new markets over the past 18 months,
CareCredit has also launched a CareCredit Rewards Mastercard offering
the ability to earn points in select categories such as health and
wellness and established key strategic agreements with associations such
as the American Osteopathic Information Association, American Med Spa
Association and Spa Industry Association.

Currently, a large concern among providers is the transformation of the
healthcare payments landscape and the increasing financial burden to the
patient. This translates into increasing the length of time it takes to
collect payments2 and can inhibit patients' ability to get
the care they want and need without delay. At the same time, consumer
out-of-pocket spending is expected to grow from $416 billion in 2014 to
$608 billion by 20193, and many patients may not be prepared
to pay for their medical expenses, whether planned or unplanned. In 2017
more than 20% of adults had a major, unexpected medical bill, with an
average expense of $1,200.4

"As rising healthcare costs shift the financial responsibility from
traditional payers like insurers to consumers, it's a natural
progression for CareCredit to expand into new medical specialties and
give even more patients access to care," said Dave Fasoli, CEO
CareCredit. "We have over a 30-year history in health and wellness and
we're committed to helping patients get the treatment they need as well
as helping physicians and providers run successful and efficient
practices."

CareCredit offers promotional financing options and a simple payment calculator
for consumers to compare payment options and determine monthly payment
amounts. Healthcare providers receive guaranteed payment within two
business days and access to resources like the Pay
My Provider
portal, which allows providers to accept online payments
easily and, if desired, share a custom payment link with patients via
email, their website or social media channels. By helping to reduce the
billing and insurance-related activities that contribute to
administrative costs and time, CareCredit services can free up valuable
time to allow providers and their staff to focus more on providing
high-quality care and a positive patient experience.

About CareCredit®

For 30 years CareCredit, a Synchrony solution (NYSE:SYF), has helped
millions of people pay for needed and desired care and health expenses.
CareCredit is a health, beauty, wellness and personal care credit card
accepted through a national network of more than 200,000 healthcare
provider locations and select health-focused retailers. For more
information on CareCredit, call 800-300-3046 or visit www.carecredit.com.
For more information about Synchrony Financial visit www.synchronyfinancial.com.

1 CareCredit Cardholder Engagement Study, Q2 2018

2 Healthcare Payments Benchmark, Wave 2 Report on Findings,
December 2017, conducted for CareCredit by Chadwick Martin Bailey

3 InstaMed, Trends in Healthcare Payments Eighth Annual
Report: 2017, May 2018

4 Ibid

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