Ally Lending and Western Dental Partner to Make Dental Care Affordable
CHARLOTTE, North Carolina, February 23, 2021 / PRNewswire / – Ally loan, the personal loan branch of Allied bank, a subsidiary of Ally Financial Inc. (NYSE: ALLY), today announced the 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 at 43 western dental practices, comes as Ally Lending continues to expand its footprint in the consumer healthcare lending market.
Cost is often a barrier for patients seeking dental treatment. According to the Pew Dental campaign, approximately 72 million Americans rely on Medicaid and the Children’s Health Insurance Program (CHIP) for dental coverage, but two-thirds of dentists do not accept any type of coverage.1 For many, insurance does not cover the full cost of care2. The financing options help provide much-needed flexibility when it comes to paying for major dental and orthodontic procedures while avoiding the high interest and start-up costs of credit cards.
Using Ally Lending’s fully digital application process, patients can quickly pre-qualify for a loan without impacting their credit score. After prequalification, patients review loan terms and monthly payment options, and finally, select a loan package that suits their budget. They will then reimburse Ally Lending over time for their service. Ally Lending has been providing funding in the field of dentistry since its inception in 2015, originally as Health Credit Services LLC (HCS), and today with financial support from its parent company Ally Financial.
“Advancing customer health in an affordable and innovative way continues to be our priority,” said Hans Zandhuis, director of Ally Lending. “This partnership is a natural fit as Western Dental aligns with this philosophy and always puts the overall health of the patient 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 offices provide funding to patients, it helps drive business by maximizing profitability and reducing financial risk.3
“Oral health plays an important role in a person’s overall health, so it is imperative that we provide our patients with funding options that match their individual circumstances,” said Bill dembereckyj, Chief Financial Officer of Western Dental & Orthodontics. “The Ally team has been a great partner during the pilot program and amidst the COVID constraints we are under. We look forward to expanding the Ally funding option to all of our 326 offices in the coming months.”
In addition to financing options in the health and wellness industry, Ally Lending also offers personal loans for automotive renovation, maintenance and modification, and coming in 2021, retail purchases. – all segments in which Ally has grown rapidly over the past year. To learn more, visit allylending.com.
About Financière Ally inc.
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company with $ 182.2 billion active at December 31, 2020. As a customer-centric company with passionate customer service and innovative financial solutions, we relentlessly focus on “doing it right” and being a trusted financial services provider to our consumer, business and corporate clients. We are one of the nation’s largest full-service auto finance operations, providing a wide range of financial services and insurance products to auto dealers and consumers. Our award-winning online banking (Allied bank, FDIC member and Equal Housing Lender) offers mortgages, personal loans and a variety of deposit and other banking products, including savings accounts, money market and checks, certificates of deposit (CDs) and individual retirement accounts (IRA). In addition, we offer securities brokerage and investment advisory services through Ally Invest. Our strong corporate finance business provides capital to equity sponsors and mid-market companies.
For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.
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About Western Dental
Western Dental (with its supported subsidiaries including Brident Dental & Orthodontics and Vital smiles) is a national leader in accessible and affordable oral health care, serving approximately 3 million patient visits per year at 325 affiliated offices across California, Texas, Arizona, Nevada and Alabama. In addition to general dentistry, Western Dental offers orthodontics, oral surgery, pediatric dentistry, periodontics and endodontics services in its offices, creating a convenient full service “Dental Home”. All Western Dental services are supported 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 find a practice in your community, visit www.westerndental.com or call 1-800-6-DENTAL.
1Whyy.org. “The high cost of being broke: dental care.” August 2018.
2US Department of Health and Human Services Agency for Healthcare Research and Quality. “Research Results # 38: Dental Services: Usage, Expenses, Source of Payment, Coverage, and Type of Procedure.” 1996-2015.
3Ready United States. “Patient Funding 101: What You Need to Know”. May 2020.
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SOURCE Financial Allied
SOURCE Financial Allied