Medical prices have essentially remodeled over the past decade triggering an upsurge within the want for medical finance. Insurance corporations are charging additional and covering less for procedures, exploit patients to bridge the gap with their own funds.
If a patient has to bear an elective procedure, they’ll seemingly not have the available credit on their personal credit cards. This is often what makes access to medical finance a necessity for patients and for practices treating them.
What is Medical Financing?
In most cases, medical finance uses a patient’s credit to finance the value of any treatment. Healthcare finance is integral to giving patients viable choices to finance their medical costs. Medical finance is that the sole way to bridge the gap once it involves procedures that a patient can’t pay straight away in their time of need.
Most costly treatments:
- Laser Gum Contouring:$3,000
- Laser Hair Removal:$3,000
- Root canal:$2,000
- Laser whitening:$1,000.
- Tummy Tuck:$12,000
- Face Lift:$15,000
- Dental implants:$3,000
Financing helps patients in various ways:
1. Offer Social Healthcare Payments
Thousands of people, struggling to make ends meet, are not able to afford medical procedures that are vital to their physical and emotional well-being. This is an easy and effective way to raise money to cover the cost of expensive health care treatments and unexpected health emergencies. Harness the power of social media by reaching out to your network of friends, family, and supporters to ask for donations towards your financing.
2. Bad Credit? No Problem!
Over the past few years, companies have become very strict about checking credit scores before financing patients. If patients do not have a good credit score, getting a medical loan can be next to impossible. Moreover, even if the healthcare provider is ready to approve a patient, the companies do not permit. But Denefits approves financing without checking the credit score. So even if a patient or a guardian has a low credit score, the patient can, in any case, be financed. Because credit score is not the only criteria to assess a patient’s potential to repay a medical debt. So irrespective of your credit score, Denefits approve patient financing. Moreover, healthcare providers can finance patients denied by other financing companies as well.
3. Approved Within 3 Minutes (Instant Approval)
Unlike conventional financing company, Denefits does not check your credit score. So Denefits instantly approve the patient application within 3 minutes. Approval is immediate as soon as the patient financing form is filled at the practice. At Denefits, we have 100% patient approval.
4. Flexible Monthly Payments
Flexible Monthly Payments can lead to financial benefits for the patients. The patients achieve a level of stability that opens up long-term options, as well as the ways in which switching to private treatment via a payment plan can benefit them. A payment plan might well be an option for overcoming patients’ financial concerns.