How does CareCredit work for dental offices?

So I understand if a patient cannot pay immediately or is uninsured, that providers may sign the patient up with a service known as CareCredit.

Can you confirm that this is how the arrangement works:
1) Provider signs Patient up with CareCredit
2) CareCredit immediately provides doctor with the payment for the entire procedure.
3) Patient makes monthly payments to CareCredit

I'd imagine it would be hard to get CareCredit though if this were the case. CareCredit would need to rely on a high interest rate with low defaults to make a profit.

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How does CareCredit work for dental offices?