What is the fee for a practice to get started?
Offering Sunbit as a pay-over-time option for your patients is free to start. There are no integration costs, monthly fees, or hidden charges.
What does it cost my practice when a patient pays using Sunbit?
- Sunbit takes a flat 6% transaction fee for all purchases made using Sunbit.
- There are no minimum monthly requirements or additional fees.
- When a patient uses Sunbit to pay their bill, the practice will get paid up front, less the 6% processing fee. Deposits are initiated next business day, and funds are received via ACH deposit typically within 3-5 business days. Sunbit takes care of the rest.
- If the patient defaults or is late on their payments, that risk is on Sunbit. Sunbit loans are non-recourse.
How old can a patient's balance be for a patient to be allowed to pay over time?
The Sunbit option will appear on all statements up to 120 days after the patient receives their first statement.
Can we use Sunbit for patients who are in collections?
No, Sunbit cannot be used for patients who are in collections.
How does Sunbit differ from a traditional payment plan?
- Payment plans have about a 15-20% default rate, which means that, on average, practices don’t end up collecting 15-20% of the plans they offer to their patients. With Sunbit, you’ll be paid 100% of the statement value, less a flat 6% transaction fee. This means you never have to worry about taking on the risk of your patients defaulting on their payments
- Also with payment plans, practices must track down monthly payments from patients over the course of their plan (typically 12-24 months), assuming they are able to collect for the full length of the plan. With Sunbit, providers are paid upfront so they don’t have to wait for patient payments to trickle in.
- Believe it or not, ordinary payment plans still require administrative work from your practice, from updating credit card numbers to keep on file to calling patients if monthly payments aren’t received. Sunbit takes on all admin work, so you can enable this flexible payment option on your statements and get back to patient care.
How do I contact Sunbit Support?
Sunbit’s in-house customer care center is standing by to answer any questions that you or your patients may have. You can reach them directly at (855) 678-6248 or chat with them here.
What prerequisites do I need to use Sunbit?
You must have the In-App Credit Card Processing and the Patient Payment Portal features enabled and configured so your patients can use Pay Over Time with Sunbit from the portal.