Patient Financing Reconciliation: CareCredit, Sunbit, and Beyond

The patient financing company approved $4,800 for treatment. The patient completed their work. But when did that money actually hit your account, and was it the right amount?

The Patient Financing Gap

Patient financing has transformed how dental practices handle large treatment cases. Platforms like CareCredit, Sunbit, Proceed Finance, and others let patients spread payments over time while practices receive funds upfront.

In theory, it is straightforward. Patient applies, gets approved, you provide treatment, financing company pays you.

In practice, it is more complex. Each platform has its own funding timeline, fee structure, and reconciliation requirements. Payments arrive at different times than you expect. Fees get deducted. Refunds create complications. Without careful tracking, money falls through the cracks.

Practices that offer patient financing need a reconciliation process specific to these platforms. Otherwise, they risk missing payments, overpaying fees, or losing track of which cases have actually been funded.

How Patient Financing Payments Flow

Understanding the payment flow helps you know what to track and when.

Application and Approval

The patient applies for financing, either in your office or online. The financing company runs a credit check and approves a credit limit or loan amount.

At this point, no money has changed hands. You have an approval, not a payment.

Treatment Authorization

Before starting treatment, you submit a transaction request to the financing company for the specific treatment amount. They authorize the charge against the patient's account.

Some practices do this at the start of treatment. Others wait until treatment is complete. Your timing affects your funding timeline.

Funding

After authorization (and sometimes after a brief hold period), the financing company sends funds to your practice. This is when money actually moves.

Funding timelines vary:

• CareCredit: Typically funds within two to three business days
• Sunbit: Often funds within one to two business days
• Proceed Finance: Usually funds within two to four business days
• Other platforms: Varies widely

Fee Deduction

Financing companies charge merchant fees, similar to credit card processing. These fees are either:

• Deducted from each funded amount (you receive net proceeds)
• Billed separately on a monthly statement

Fee structures also vary:

• Some charge flat percentages (typically 5% to 14% depending on the plan)
• Some have tiered rates based on financing term length
• Promotional plans (like deferred interest) often have higher fees

Your Reconciliation Point

The key reconciliation question: Did the expected funding amount arrive in your bank account, when expected, with correct fees deducted?

Without checking, you might assume everything is fine when it is not.

CareCredit Reconciliation Steps

CareCredit is the most widely used patient financing platform in dental. Here is how to reconcile it.

Access Your Provider Center

Log into the CareCredit Provider Center at carecredit.com. This portal shows all your transactions, funding, and statements.

Match Transactions to Authorizations

Review your transaction list. For each authorization you submitted, verify:

• The amount matches what you expected
• The transaction status shows as funded
• The funding date aligns with your timeline expectations

Flag any transactions that show pending, declined, or disputed status for follow-up.

Verify Deposits in Your Bank Account

CareCredit deposits show up with identifiable descriptions in your bank account, usually including "CARECREDIT" or similar.

Match each CareCredit deposit to specific transactions in the portal. The deposit amount should equal your authorized amounts minus fees.

Calculate Expected Fees

CareCredit fees vary by plan type:

• Short-term plans (6-12 months): Lower fees, typically 5-8%
• Long-term plans (24-60 months): Higher fees, typically 10-14%
• Promotional plans: Vary based on terms

Calculate what your fees should be based on the transactions funded. Compare to what was actually deducted or billed.

Reconcile Monthly Statement

At month end, CareCredit provides a statement summarizing all activity. Reconcile this statement to:

• Your internal records of authorized transactions
• The deposits that appeared in your bank account
• The fees you calculated

Any discrepancies need investigation before assuming everything is correct.

Sunbit Reconciliation Steps

Sunbit has grown rapidly in dental, particularly for practices wanting to offer financing to patients with varied credit profiles.

Access Your Sunbit Dashboard

Log into your Sunbit merchant portal. The dashboard shows approved applications, funded transactions, and payment history.

Match Approvals to Funded Transactions

Sunbit approvals do not automatically become funded transactions. The practice must complete the transaction after treatment.

Verify that every completed treatment case with Sunbit approval has been submitted for funding. Cases that fall through this step mean you provided treatment but never got paid.

Track Funding Timing

Sunbit typically funds faster than traditional financing, often within one to two business days. Track when you submit transactions and when funding arrives.

Consistent delays beyond the expected timeline warrant a call to your Sunbit representative.

Understand Sunbit Fee Structure

Sunbit fees depend on the financing terms offered to the patient. Longer terms generally mean higher merchant fees.

Your Sunbit portal shows the fee schedule. Verify that the fees deducted from your funding match your agreement.

Reconcile to Bank Deposits

Sunbit deposits appear in your bank account with identifiable descriptors. Match each deposit to specific funded transactions.

For any deposit you cannot match, investigate before assuming it is correct.

Other Financing Platform Considerations

Beyond CareCredit and Sunbit, practices may use:

Proceed Finance

Proceed focuses on dental and offers various plan lengths. Reconciliation follows similar patterns:

• Match authorizations to funding
• Verify fees match your agreement
• Reconcile deposits to bank account

Lending Club Patient Solutions

Now part of a larger financial services company, Lending Club offers patient financing with its own portal and funding timeline.

In-House Financing

Some practices offer their own financing, collecting payments over time directly from patients. This requires different tracking:

• Outstanding balance monitoring
• Payment due date tracking
• Collections follow-up for missed payments

In-house financing has no merchant fees but requires more operational management.

Common Patient Financing Reconciliation Errors

Watch for these frequent problems.

Approved But Never Funded

A patient gets approved for financing. Treatment happens. But nobody submits the funding request. The practice provided $4,000 in treatment and received nothing.

Prevention: Create a checklist that requires funding verification before marking treatment complete.

Funded But Never Posted

The financing company pays, the money arrives, but nobody posts the payment to the patient account in your PMS.

The patient account shows a balance. You might send statements for money you already received. Or you might double-collect if the patient pays again.

Prevention: Post financing payments to patient accounts the same day funding is confirmed.

Wrong Amount Funded

The approved amount was $3,500, but only $2,800 was submitted for funding. The remaining $700 was never collected.

This happens when treatment plans change, phases get split, or someone makes a data entry error.

Prevention: Verify funded amounts against treatment totals before closing the case.

Fee Calculation Errors

You expected a 7% fee but were charged 12%. Over a month of financing transactions, this adds up.

Financing fee schedules can be complex. Make sure you understand your agreement and verify fees match.

Prevention: Calculate expected fees monthly and compare to actual charges.

Refund and Adjustment Complications

A patient financed $5,000, but treatment was reduced and they need a $1,200 refund. Processing this through the financing company has specific requirements.

Refunds done incorrectly can result in you refunding money you never received, or the patient being charged for services not provided.

Prevention: Understand each platform's refund process and follow it precisely.

Building a Patient Financing Reconciliation Process

Daily Tasks

Post funding immediately. When a financing payment funds, post it to the patient account in your PMS the same day.

Verify pending transactions. Check each financing portal daily for transactions that should have funded but have not.

Match deposits. As financing deposits appear in your bank account, match them to specific funded transactions.

Weekly Tasks

Review unfunded approvals. Pull a report of patients with financing approvals who have completed treatment but not yet been funded. Investigate each one.

Check for exceptions. Look for declined transactions, disputed charges, or unusual fee deductions.

Reconcile week-to-date. Compare your expected financing revenue to what actually arrived.

Monthly Tasks

Reconcile each platform. For CareCredit, Sunbit, and any other platforms, reconcile the monthly statement to your records.

Verify fees. Calculate what your fees should be and compare to what was charged.

Review aging. For in-house financing, review payment aging and follow up on delinquent accounts.

Report on financing volume. Track what percentage of revenue comes through patient financing and whether trends are changing.

Tracking Patient Financing in Your PMS

Your practice management system should clearly identify patient financing payments.

Use Distinct Payment Types

Create separate payment types for each financing platform:

• CareCredit payment
• Sunbit payment
• Proceed Finance payment

This allows you to run reports showing financing volume by platform and makes reconciliation easier.

Note the Transaction ID

When posting financing payments, include the transaction ID from the financing portal in the payment notes. This creates a clear link for future reference.

Track Fees Separately

If fees are deducted from funding, consider tracking the gross amount and the fee as separate entries. This gives you accurate data on true collection rates and financing costs.

The True Cost of Patient Financing

Patient financing increases case acceptance and enables larger treatments. But it has costs beyond the obvious fees.

Direct Costs

Merchant fees ranging from 5% to 14% directly reduce your revenue on financed cases.

A $5,000 case financed at 10% fee costs you $500. That is significant margin compression.

Administrative Costs

Reconciling multiple financing platforms takes staff time. Chasing funding issues, processing refunds, and managing exceptions all require labor.

Opportunity Costs

Money tied up in financing timelines (even just a few days) is money not earning interest or available for practice use.

When Financing Makes Sense

Despite costs, financing often makes business sense when:

• It enables treatment that would not happen otherwise
• The margin on the treatment exceeds the financing cost
• Cash flow timing is manageable
• Reconciliation processes are solid

The key is knowing your true costs and ensuring financing adds value rather than just complexity.

Managing multiple financing platforms? Zeldent tracks patient financing deposits alongside all your other revenue, ensuring every funded case is matched and posted correctly. Schedule a demo to see unified payment reconciliation.