As treatment costs continue to rise across healthcare specialties, more patients are looking for financing options that make care easier to afford. From dental care and orthodontics to veterinary services, med spas, and elective medical treatments, flexible payment plans can help patients move forward with care sooner while reducing financial stress.

For healthcare providers, the right patient financing solution can improve the patient experience, increase treatment acceptance, and simplify office workflow.

Two companies aiming to make healthcare costs more manageable for patients are Cherry Payment Plans and Healthcare Finance Direct (HFD). But the experience they offer — to both providers and patients — can look very different. From underwriting and approval workflows to flexible payment plans and practice operations, the right financing partner often depends on the goals of the practice and the needs of its patients.

Cherry Payment Plans: How It Works

Cherry is a BNPL patient financing platform that allows patients to split treatment costs up to $50,000 into affordable monthly payments from 1-60 months.

Over 60,000 healthcare providers partner with Cherry across a wide range of specialties, including dentistry, orthodontics, veterinary medicine, vision care, dermatology, med spas, wellness clinics, hearing care, and plastic surgery practices.

Cherry’s BNPL fintech platform is designed to make the patient financing experience stress-free while helping providers streamline enrollment, optimize payment workflows, and grow sustainably.

The application process can be completed in just 35 seconds, completely hassle-free from the patient’s phone or inside the medical practice, dental office, or clinic. Unlike applications for traditional bank loans, there’s no hard credit check, meaning the patient’s credit score will remain unharmed throughout Cherry’s entire application process.

Credit decisions are instant, so the patient finds out in real time if they’re eligible for Cherry’s flexible financing. Up to 90% are approved across credit profiles, and qualified borrowers are eligible for a number of budget-friendly payment options, from short-term interest-free plans and longer-term options with true 0% qualifying APR — no deferred interest.

For providers, there’s no risk of default and no added administrative burden. Cherry pays the practice for the entire procedure, the client repays Cherry over time, and Cherry’s team manages all aspects of financing with a dedicated customer support team. There are no signup fees, annual fees, or other hidden charges — just a merchant fee per transaction — the lowest in the industry.

Cherry offers:

• A 35-second application that doesn’t hurt credit score
• Flexible financing options up to $50,000
• Affordable plans from 1-60 months
• True 0% APR for qualified borrowers (no deferred interest)
• Flexible use across a number of industries
• Upfront payment to practices within 2-3 business days
• Exclusive approvals (the patient must use their funds at the practice where they were approved)
• The lowest merchant fees in the industry

Healthcare Finance Direct (HFD): How it Works

Healthcare Finance Direct, sometimes referred to as HFD Financing, is a platform that helps healthcare providers create and manage their own financing programs for patients.

Unlike Cherry, HFD is not a lender. Instead, HFD provides the infrastructure, software, servicing tools, and payment management systems that practices can use to offer financing directly through their business. According to gohfd.com, they help practices “become the lender.”

With Cherry, practices can outsource nearly every aspect of financing from the start. From underwriting and lending to repayment servicing and customer support, Cherry handles it every step of the way. With HFD, practices are more directly involved in structuring and operating their financing programs, while HFD helps facilitate servicing, payment processing, repayment administration, and patient payment management through its platform.

In practice, that means providers using HFD may take on responsibilities more closely associated with managing a financing program, including setting repayment terms, overseeing financing operations, managing patient financing agreements — and most importantly, lending itself. Some models may connect the provider with a lender to provide upfront payment, but not all.

However, HFD still manages servicing and repayment administration through its platform rather than requiring practices to collect and service payments entirely on their own.

HFD financing can be used for a wide range of healthcare services that participating providers offer, including dental treatment plans, Invisalign and orthodontics, veterinary care, medspa services, vision and audiology services, and other elective or specialty procedures not fully covered by insurance.

Because practices structure and operate financing programs through HFD’s tools, providers may take on greater responsibility for:

• Financing program oversight
• Repayment structures
• Underwriting criteria
• Down payment requirements
• Patient financing agreements
• Financing workflow management

Through HFD’s platform, practices may customize:

• Repayment schedules
• Underwriting criteria
• Financing structures
• Patient repayment terms
• Payment collection settings

This model may appeal to practices that want more direct control over how financing is structured within their business. However, it can also create additional operational complexity and administrative responsibility for office teams compared to financing platforms like Cherry that manage approvals, funding, and repayment servicing from the start.

Cherry vs Healthcare Finance Direct: A Quick Comparison

Approval Process and Patient Accessibility

For many patients, the approval process shapes their first impression of a financing solution. Patients already managing financial concerns, or uncertainty around treatment costs may hesitate to move forward if applications feel complicated, time-consuming, or potentially harmful to their credit score.

Cherry Payment Plans

Cherry’s application process is designed to create a fast, stress-free patient experience. Patients can apply in 35 seconds from their mobile device or at the point of care and get instant eligibility decisions without hurting their credit score. Up to 90% are approved across credit profiles.

This streamlined fintech workflow can help healthcare providers reduce financial barriers while improving approval rates and treatment acceptance across specialties.

For patients seeking medical care, fast approvals and manageable payment options can help make moving forward with life-changing treatment possible — contributing to better quality of life and long-term well-being, while allowing practices to convert more consultations to long-term patients.

Healthcare Finance Direct

HFD also allows providers to customize financing programs based on their practice goals and patient demographics. Depending on how a financing program is configured, providers may have greater input into approval parameters, repayment structures, and financing criteria. This flexibility may appeal to practices that want more control over how financing options are offered to patients, but less so to those that prefer a proven, streamlined approach to underwriting and approval.

Because HFD financing programs can be customized at the practice level, the patient approval experience may vary more significantly between providers than with standardized fintech-style financing companies. Some practices may incorporate additional internal review steps or customized financing workflows depending on how their HFD program is structured.

Key differences include:

• Cherry emphasizes speed, automation, and patient accessibility across credit profiles
• HFD offers greater flexibility over underwriting and financing structures
• Cherry streamlines the financing workflow for practices end to end
• HFD allows providers more involvement in the financing process

Funding, Affordability, and Practice Operations

Affordability is one of the biggest reasons healthcare providers offer patient financing in the first place. Even patients with health insurance may still face deductibles, coverage limitations, or large out-of-pocket expenses.

For many patients, affordable financing can make healthcare services feel more attainable by converting larger upfront costs into budget-friendly monthly payments.

Cherry Payment Plans

Cherry focuses heavily on flexible financing up to $50,000 with pay-over-time plans from 1-60 months that help patients access care in a way that fits their budget. Qualified borrowers have access to short-term interest-free plans and longer-term options with true 0% APR — no deferred interest.

Cherry’s financing platform is used across healthcare specialties ranging from dentistry and orthodontics to veterinary medicine, wellness services, plastic surgery, med spas, and elective medical care. For providers, that flexibility can help make treatment costs more manageable for patients while supporting stronger treatment acceptance across a variety of services.

Cherry also simplifies the operational side of financing for providers. Practices receive payment upfront while Cherry manages repayment servicing, which can help reduce administrative burden and simplify office workflow.

Healthcare Finance Direct

HFD also allows providers to customize financing programs based on their practice goals and patient demographics. Depending on how a financing program is configured, providers may have greater input into approval parameters, repayment structures, and financing criteria. This flexibility may appeal to practices that want more control over how financing options are offered to patients, but feel burdensome for practices that prefer a turnkey solution.

Because HFD financing programs can be customized at the practice level, the patient approval experience may vary more significantly between providers than with standardized fintech payment solutions. Some practices may incorporate additional internal review steps or customized financing workflows depending on how their HFD program is structured.

Key differences include:

• Cherry offers high loan amounts and flexible repayment structures across specialties
• HFD allows providers to customize financing terms and program design more directly
• Cherry emphasizes operational simplicity with managed repayment servicing
• HFD provides greater financing flexibility but may involve more provider oversight depending on program setup

Repayment and Financial Responsibility

Repayment structures can significantly influence both the provider experience and the patient experience after treatment is completed.

Patients generally want transparency, predictable payment options, and peace of mind that financing will remain manageable throughout repayment. Hidden fees, confusing repayment structures, or unexpected payment terms can increase financial stress and negatively affect the overall healthcare experience.

Cherry Payment Plans

Cherry focuses on creating a straightforward repayment experience with transparent financing terms and manageable monthly payments: true 0% financing for qualified borrowers and no hidden fees or deferred interest charges. Patients can make payments from a debit card, credit card, or bank account in an easy-to-use online dashboard.

Because Cherry manages repayment servicing directly, practices don’t need to be involved in payment administration and collections oversight. This can help providers spend less time managing financing logistics and more time focusing on patient care and practice operations.

Healthcare Finance Direct

Healthcare Finance Direct financing structures may vary depending on how practices configure their financing programs. HFD provides payment servicing and financing management support, but providers may still maintain greater involvement in financing oversight, repayment structures, and program administration compared to more fully standardized financing platforms.

For practices seeking additional control over financing strategy and patient payment structures, that flexibility may be appealing. Other providers may prefer financing platforms that minimize ongoing administration in order to simplify office operations and reduce workflow complexity.

As with any financing partner, providers should carefully evaluate repayment structures, servicing responsibilities, underwriting policies, down payment requirements, and overall financing management expectations before implementing a patient financing solution.

Key differences include:

• Cherry manages repayment servicing directly, so there’s no risk of default or administrative burden
• HFD financing oversight may vary based on provider configuration
• Cherry offers a more hands-off repayment experience for practices
• HFD may involve greater provider participation in financing administration and repayment management depending on the model

Final Thoughts on Cherry vs Healthcare Finance Direct

Cherry and Healthcare Finance Direct both help healthcare providers offer patient financing, but they approach financing solutions differently.

• Cherry focuses on delivering a streamlined fintech experience with fast approvals, flexible financing, manageable monthly payments, and simplified workflows for practices across multiple healthcare specialties.
  
• Healthcare Finance Direct focuses more heavily on customizable financing programs and provider-controlled financing management for practices that want greater operational flexibility.

For providers prioritizing simplicity, scalability, patient accessibility, and streamlined workflow management, Cherry is the stronger fit. For practices seeking more direct control over underwriting and financing structures, HFD financing may offer additional customization opportunities.

Ultimately, the right financing partner depends on the goals of the practice, the needs of patients, and how providers want financing to fit into their operations. Want to see what flexible financing can do for your practice? Find out why Cherry is chosen first over its competitors more than 80% of the time. Claim your personalized demo today.