CHARLOTTE, N.C., Feb. 23, 2021 /PRNewswire/ -- Ally Lending, the
personal lending arm of Ally Bank, a
subsidiary of Ally Financial Inc. (NYSE: ALLY), today announced
availability of its financing solutions for patients
of Western Dental & Orthodontics, a national leader in
dental and orthodontic care and one of the largest Dental Service
Organizations (DSOs) in the country. The relationship, which begins
as a pilot program in 43 Western Dental offices, comes as Ally
Lending continues to expand its footprint in the consumer health
care lending market.
Cost is often a barrier for patients seeking dental care.
According to the Pew Dental Campaign, approximately 72 million
Americans rely on Medicaid and Children's Health Insurance Program
(CHIP) for dental coverage, yet two-thirds of dentists do not
accept either kind of coverage.1 For many, insurance
does not cover the full cost of care2. Financing options
help provide much needed flexibility when it comes to affording
important dental and orthodontic procedures while avoiding the high
interest and startup fees of credit cards.
Using Ally Lending's fully digital application process, patients
can quickly pre-qualify for a loan with no impact to their credit
score. Following pre-qualification, patients review loan terms and
monthly payment options, and ultimately, select a loan package that
works for their budget. They will then pay Ally Lending back over
time for their service. Ally Lending has offered financing in the
dentistry space since its inception in 2015, originally as Health
Credit Services LLC (HCS), and now today with the financial backing
of its parent Ally Financial.
"Advancing customer health in an affordable and innovative way
continues to be our priority," said Hans
Zandhuis, head of Ally Lending. "This partnership is a
natural fit because Western Dental is aligned with this philosophy
and always puts the patient's overall health first."
Western Dental & Orthodontics provides a full range of
dental services, including dental implants and restorative crowns,
periodontics, pediatric dentistry, endodontics, orthodontics and
extractions. Research shows that when dental practices offer
patient financing it helps drive business by maximizing
profitability and alleviating financial risk.3
"Oral health plays a significant role in a person's overall
health, so it's imperative we offer our patients financing options
that fit their individual situation," said Bill Dembereckyj, chief financial officer at
Western Dental & Orthodontics. "The Ally team has been a
terrific partner during the pilot program and amid the COVID
constraints we are subject to. We hope to expand the Ally financing
option to all 326 of our offices in the coming months."
In addition to financing options in the health and wellness
sector, Ally Lending also offers personal loans in home
improvement, auto servicing and modification, and coming in 2021,
retail purchases – all segments in which Ally has seen rapid growth
over the past year. To learn more, visit allylending.com.
About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading digital
financial-services company with $182.2
billion in assets as of December 31,
2020. As a customer-centric company with passionate customer
service and innovative financial solutions, we are relentlessly
focused on "Doing it Right" and being a trusted financial-services
provider to our consumer, commercial, and corporate customers. We
are one of the largest full-service automotive-finance operations
in the country and offer a wide range of financial services and
insurance products to automotive dealerships and consumers. Our
award-winning online bank (Ally
Bank, Member FDIC and Equal Housing Lender) offers mortgage
lending, personal lending, and a variety of deposit and other
banking products, including savings, money-market, and checking
accounts, certificates of deposit (CDs), and individual retirement
accounts (IRAs). Additionally, we offer securities-brokerage and
investment-advisory services through Ally Invest. Our robust
corporate finance business offers capital for equity sponsors and
middle-market companies.
For more information and disclosures about Ally, visit
https://www.ally.com/#disclosures.
For further images and news on Ally, please visit
http://media.ally.com.
About Western Dental
Western Dental (with its supported affiliates, including Brident
Dental & Orthodontics and Vital
Smiles) is one of the nation's leaders in accessible,
affordable oral health care, serving approximately 3 million
patient visits annually in 325 affiliated offices throughout
California, Texas, Arizona, Nevada and Alabama. In addition to general dentistry,
Western Dental offers orthodontics, oral surgery, pediatric
dentistry, periodontics and endodontics in its offices, creating a
convenient full service "Dental Home." All of Western Dental's
services are backed by a unique quality assurance system that
electronically monitors all patient visits, treatments, dental
staff and clinical performance to enable high-quality care. To
learn more about Western Dental or inquire about an office in your
community, visit www.westerndental.com or call 1-800-6-DENTAL.
Sources:
1Whyy.org. "The high cost of being broke: Dental
care." August 2018.
2U.S. Department of Health & Human Services'
Agency for Healthcare Research and Quality. "Research Findings #38:
Dental Services: Use, Expenses, Source of Payment, Coverage and
Procedure Type." 1996-2015.
3Lending USA.
"Patient Financing 101: What You Need to Know." May 2020.
Contact:
Justin Nicolette
Ally Public Relations
justin.nicolette@ally.com
SOURCE Ally Financial
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SOURCE Ally Financial