The Power of Mobility Solutions and Their Financing Options
In today’s world, mobility solutions have become essential tools for individuals facing ambulatory challenges. These remarkable innovations empower the elderly, people with disabilities, and individuals recovering from injuries. Mobility solutions enable the aforementioned the power to regain their independence, freedom, and ultimately enhance their quality of life. In this blog post we will explore how MOBILITY PLUS and UNITED CREDIT work together to revolutionize the way individuals navigate the world, break down physical and financial barriers, and foster inclusivity. How do mobility solutions enhance the quality of life? 1. Restoring Independence: Mobility aids such as wheelchairs, scooters, and power chairs play a vital role in restoring independence to those with mobility limitations. These solutions can provide individuals with the ability to go where they want to go. 2. Promoting Accessibility: Mobility solutions have transformed accessibility. Ramps, platform lifts, and stairlifts are just a few examples of solutions that have made public spaces, buildings, and homes more inclusive for everyone. These aids break down physical barriers, ensuring that individuals with mobility challenges can access various spaces independently and with confidence. 3. Enhancing Safety and Preventing Falls: Fall prevention and mobility aid solutions also play a crucial role in maintaining safety, especially within the elderly community. Devices like grab bars, bed rails, and bathroom modifications reduce the risk of accidents and injuries within the home. Additionally, assistive technologies like mobility scooters and power wheelchairs provide stability and balance, enabling users to navigate uneven terrain, curbs, and slopes with ease. This ensures their safety during outdoor activities. 4. Improving Mental Health: The impact of mobility solutions on mental health should not be underestimated. According to the PAHO, depression is the most common mental health disorder in older people. Research done surrounding mental health in the elderly suggests that maintaining social connections and daily routines benefit mental health in seniors. Mobility solutions empower individuals to thrive at home, stay engaged with their communities, and foster social connections. As a result, they can enjoy an improved quality of life. The advancements in mobility aids and solutions have transformed the lives of millions of individuals worldwide. Mobility Plus customer A. Hudson shared, “Mobility Plus installed an aluminum wheelchair ramp for my mother-in-law who has knee issues and was having trouble climbing up and down her front steps. She is very happy with her new handicap access ramp. The handicap ramp installation was completed in one day…The wheelchair ramp has definitely increased her freedom of mobility and she can use the ramp with her rollator and her power wheelchair.” By providing independence, promoting accessibility, enhancing safety, and improving mental health, these innovations have become crucial tools for enhancing the quality of life for people with mobility challenges. Mobility Plus carries top brands known for their quality, durability, and performance. These solutions provide customers with peace of mind knowing that they are investing in a reliable product. Every Mobility Plus showroom is staffed with Mobility Consultants whose job is to educate their customers about the right mobility solutions for their life. They will help put together a home access plan, and make sure the customer leaves the showroom with the product that is tailored perfectly to their needs, including a financial plan that works best for them. How can you finance mobility equipment? Let United Credit Help You Whether planning in advance or dealing with an unexpected life event, mobility solutions can be a big-ticket item. Purchasing mobility solutions on your own without support is expensive. For example, a power chair can run between $1,599 – $4,915. However, you aren’t completely on your own, there are financing resources to help. Apply for a loan through United Credit’s lending partners. United Credit can help qualified applicants find the best mobility solution financing with one application. We connect you with reputable lenders, so you can secure the loan you need to take care of yourself and those who depend on you. Our lenders provide fixed rates and affordable monthly payments getting you back to independence as quickly as possible. Explore United Credit today and contact us to secure medical equipment financing!
How to Finance Medical Equipment
Unexpected health issues can severely impact your lifestyle. When you or a loved one need to use medical equipment at home, there is a period of transition. You must learn how to operate the new equipment and often adjust to the expensive financial burdens that come with it as well. We know how difficult financing medical equipment can be. Many people feel overwhelmed as more items are needed and expenses steadily increase, but in this article, we walk you through what qualifies as durable medical equipment and what resources are available to help you. What Items Are Considered DME? If you are new to the needs of those dealing with medical issues, you have probably heard “DME” or “HME” and have wondered what these mean. The two terms are often used interchangeably. DME stands for “durable medical equipment” and HME stands for “home medical equipment”. Any reusable, non-disposable equipment you use in the home for medical purposes is considered DME. Most items that qualify as DME are used for at least three years. An easy way to identify whether or not something is considered DME is if your doctor prescribed or recommended it. When a doctor recommends a piece of equipment, it is almost always DME. Some examples of durable medical equipment include: Crutches or canes Walkers Wheelchairs Respirators Continuous Positive Air Pressure (CPAP) devices and their accessories Suction pumps Oxygen tanks and breathing apparatuses Blood glucose monitors Specialized hospital-style beds Commode chairs Infusion pumps What Items Are Not Considered DME? There are some pieces of at-home care equipment that are often confused with DME. Any disposable items or devices not intended for use specifically inside the home are not considered DME. Examples of items not considered DME: Air conditioning units and filters Humidifiers Glasses or contact lenses Compression socks or leggings Dentures Modifications to your home such as widened doorways, ramps, or railings Hearing aids Bathtub seats or lifts Catheters Incontinence pads How Can You Finance Medical Equipment? Stocking your home with medical equipment can quickly add up. Purchasing DMEs on your own without any external financial support is expensive. For example, a hospital bed costs anywhere from under $1000 to $40,000. However, you aren’t completely on your own. There are resources to help cover some of the costs. Insurance For insurance to cover DME, a doctor or primary care physician will need to prescribe it. Health insurance companies are not required to cover DME, but many do anyways as part of their policies. Reach out to your insurance provider or the insurance provider of your loved one to find out exactly what they cover. Medicaid or Medicare If you or your loved one have Medicaid, it will often cover all of the DME costs. However, only those with very limited resources and income qualify for Medicaid. Medicare is broken up into two programs. Medicare A covers hospital expenses and Medicare B covers medical expenses. Medicare B will often cover up to 80% of the cost of DME but it will leave you to cover the remaining 20%. VA Benefits The United States Department of Veteran Affairs (VA) provides coverage for eligible veterans or their dependents. They will cover a portion of the costs of DME when it is prescribed by a doctor. If you or your loved one served in the military, explore the DME benefits and contact a VA representative for help. Local Programs In many cities, there are often charities and other non-profit groups set up to help those in need. Some will specialize in helping with medical costs or supplies. Research your area and find out what programs are available for you. Equipment Lease If brand-new equipment holds a heavy price tag, consider leasing the equipment instead. You will only need to provide smaller monthly payments, which is far more affordable than buying all the equipment at once. With oral appliance therapy, patients use an oral device that keeps their airways open and helps to minimize breathing complications. Dentists then continue to monitor for changes or developments in the patient’s sleeping habits through follow-up visits. Let United Credit Help You The final option available to you is to apply for medical equipment loans through United Credit’s lending partners. United Credit can help qualified applicants find the best durable medical equipment financing. We connect you with reputable lenders, so you can secure the loan you need to take care of yourself and those who depend on you. Explore United Credit today and contact us to secure medical equipment financing! United Credit strives to keep the content shared on this blog accurate and up to date. You are urged to consult with business, financial, legal, tax and/or other advisors and/or medical providers with respect to any information presented. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial or medical institution. This content is intended for informational purposes only. Follow us on social: Linkedin-in Facebook-f Instagram Twitter
Understanding Chiropractic Care: An In-Depth Look at Costs, Coverage, and Financing Options
Chiropractic care is an alternative healthcare approach that focuses on the diagnosis, treatment, and prevention of mechanical disorders of the musculoskeletal system, particularly the spine. It has grown in popularity over the years, with many individuals seeking chiropractic care for various ailments, including back pain, neck pain, and headaches. In this blog post, we will explore what chiropractic care is, how it works, whether it’s covered by insurance, and financing options available to help cover the cost of treatment. What is Chiropractic Care? Chiropractic care is a non-invasive, drug-free approach to healthcare that emphasizes the body’s natural ability to heal itself. The primary focus of chiropractic care is the relationship between the structure of the spine and the function of the nervous system. By addressing misalignments in the spine, known as subluxations, chiropractors aim to alleviate pain, improve mobility, and maintain overall health. How Does Chiropractic Care Work? Chiropractors utilize manual therapy, including spinal manipulation and mobilization, to correct subluxations and restore proper alignment to the spine. Spinal manipulation, also known as chiropractic adjustment, involves applying controlled force to specific joints to improve mobility, reduce inflammation, and relieve pain. Chiropractors may also use soft tissue techniques to address muscle tension, inflammation, and scar tissue that may contribute to musculoskeletal pain and dysfunction. In addition to hands-on therapy, chiropractors often employ adjunctive therapies, such as heat or cold therapy, ultrasound, electrical stimulation, and therapeutic exercises, to support the healing process. Chiropractic care is often used in conjunction with other conservative treatment modalities, such as physical therapy, massage therapy, and acupuncture, to provide a comprehensive approach to musculoskeletal health. Is Chiropractic Care Covered by Insurance? The coverage for chiropractic care varies widely among insurance providers and individual policies. Many insurance plans, including Medicare and Medicaid, offer some level of coverage for chiropractic services. However, the extent of coverage may be limited by factors such as the number of allowed visits per year, copayments, deductibles, and network restrictions. To determine whether your insurance plan covers chiropractic care, it’s essential to review your policy documents or contact your insurance provider directly. Be sure to inquire about any limitations, such as pre-authorization requirements or referral restrictions, that may apply to your coverage. Financing Options for Chiropractic Care If your insurance plan does not cover chiropractic care, or if you have exhausted your coverage for the year, there are several financing options available to help cover the cost of treatment: Health Savings Account (HSA) or Flexible Spending Account (FSA): If you have an HSA or FSA, you may be able to use these pre-tax funds to pay for chiropractic care. Both accounts allow you to set aside pre-tax income to cover eligible healthcare expenses, including chiropractic services. Be sure to check with your plan administrator to confirm that chiropractic care is an eligible expense. Payment Plans: Many chiropractic offices offer in-house payment plans, allowing patients to pay for their treatment over a period of time. These plans may be interest-free or involve a low-interest rate. Speak with your chiropractor’s office to inquire about available payment plan options. Personal Loans: If you need assistance covering the cost of chiropractic care, you may consider taking out a personal loan. Several financial institutions and online lenders offer personal loans for healthcare expenses, with varying interest rates and repayment terms. Be sure to carefully review the terms and conditions of any loan you’re considering, as well as your ability to repay the loan in a timely manner Medical Credit Cards: Medical credit cards are designed to help cover healthcare expenses not covered by insurance. These cards often offer promotional interest-free periods and flexible repayment options. Keep in mind that interest rates can be high if the balance is not paid off within the promotional period, so make sure to review the terms and conditions before applying. Chiropractic Discount Programs: Some chiropractic offices may offer discount programs for patients without insurance or with limited coverage. These programs may include reduced fees for services or discounted rates for treatment packages. Discuss available discount programs with your chiropractor’s office to determine if you’re eligible. Sliding Scale Fees: Some chiropractic clinics may offer sliding scale fees based on your income level or financial situation. This means that the cost of care is adjusted according to your ability to pay. Contact your local chiropractic clinics to inquire about sliding scale fee options. Community Health Clinics: In some areas, community health clinics may provide low-cost or free chiropractic care to individuals in need. These clinics often receive funding from government programs or charitable organizations to offer affordable healthcare services to the community. Check with your local health department or search online for community health clinics in your area that offer chiropractic services. Chiropractic care can be an effective, non-invasive, and drug-free approach to treating various musculoskeletal conditions. Understanding the potential costs and available financing options can help you make informed decisions about your healthcare. While insurance coverage for chiropractic care varies, there are several alternative financing options to explore if you’re in need of assistance. By considering payment plans, personal loans, medical credit cards, discount programs, sliding scale fees, and community health clinics, you can help ensure that you have access to the chiropractic care you need for a healthier, pain-free life. United Credit strives to keep the content shared on this blog accurate and up to date. You are urged to consult with business, financial, legal, tax and/or other advisors and/or medical providers with respect to any information presented. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial or medical institution. This content is intended for informational purposes only. Follow us on social: Linkedin-in Facebook-f Instagram Twitter
4 reasons every business needs consumer financing
It’s good to have options. As a business owner, giving your current and potential customers options that allow them to make a large purchase can make all the difference. Those large upfront purchases can be more obtainable for potential customers by offering consumer financing. Instead of walking out the door, they stay and become a customer. Recently, Brett Walisever, VP of Strategic Accounts at United Credit, sat down to discuss the benefits of consumer financing and how United Credit helps merchants build their businesses. Whether you’re looking to build your customer base, meet the demands of price-sensitive customers, or expand into new markets and increase sales, consumer financing could be the key to success. Here are four reasons to incorporate a consumer financing option into your business. 1. Improve your cash flow by saying ‘yes’ to more customers For major purchases of items or services like a new refrigerator or emergency dental care, these are essential. These purchases must be made immediately, to return to normalcy or even alleviate pain in some cases. According to a recent study, 56% of Americans can’t cover a $1,000 emergency expense with their savings. When faced with an expense of that size, financing can help. Without the option of financing their purchase, the consume r is going to go elsewhere, likely to a merchant that does offer financing. For many consumers, credit cards are used for regular everyday purchases like gas, groceries, and utilities, and they may not have room for a major purchase. Installment loans can help them segment the purchase over a set period of time with a set payment and interest rate. 2. Ease the “sticker shock” of a major purchase Customers may feel overwhelmed when they hear how much a major purchase costs. Financing options not only make these purchases attainable, but they also make them less shocking. Breaking a big purchase down into monthly payments helps customers understand how the purchase will fit into their budget, and they know it will be a consistent amount throughout the duration of the loan, with a fixed interest rate. There’s never a pre-payment penalty, so the loan can be paid off early if desired. 3. Build a referral base of happy customers The journey to 1,000 happy customers starts with one. Just one happy, satisfied customer will tell their friends and family about their experience, and provide compelling referrals, and that can lead to more business for you. Offering financing to your customers also helps create lifetime client value. When they have a payment solution that fits their needs and they’re able to make their purchase, it builds loyalty to your business or practice. Not only will that customer return if needed, but they’ll also help spread the word about their experience to help build your customer base. That’s a win- win! 4. Your business or practice receives upfront payment for goods and services Offering consumer financing not only helps you build your customer base while serving more people, but it can also help you keep your business expenses in line. Once a consumer qualifies for and elects to use financing, funds can be dispersed to pay you in advance of the exchange of goods or services. As far as the cost to your bottom line is concerned, your rate is agreed upon upfront, which means you’ll always know the exact expense associated with your earnings. Average merchant fees for financing can be similar to the processing fees incurred when a customer pays with a credit card. United Credit strives to keep the content shared on this blog accurate and up to date. You are urged to consult with business, financial, legal, tax and/or other advisors and/or medical providers with respect to any information presented. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial or medical institution. This content is intended for informational purposes only. Whether you’re just getting started with financing or looking for a new option for your growing customer base, United Credit is here to help. For more information on becoming a merchant with United Credit, visit: https://www.unitedcredit.com/enroll-now/ Follow us on social: Linkedin-in Facebook-f Instagram Twitter
How Can I Get My Patients Healthcare Financing?
As healthcare professionals, we care for every one of our patients. It’s hard to see people unable to receive medical treatment due to financial issues. United Credit understands that, and we’re here to help healthcare practices with patient financing. Below, we walk you through the benefits of patient financing for medical providers and answer a list of FAQs. Why Should Medical, Dental, and Veterinary Practices Consider Adding Healthcare Practice Patient Financing? When you partner with United Credit to offer healthcare financing to your patients, you’re taking the first step to a stronger and more secure financial future for your practice. Our network includes some of the best-known names in the industry, underwriting patient financing programs at competitive finance rates in the patient financing industry. Unlike “in-house” patient finance solutions, UC’s healthcare finance company network manages patient medical bills and loans for you, freeing your staff to focus on patient care. By directly managing the loans for flexible patient financing, our network of healthcare practice patient financing providers makes it simpler for you to offer patient financing. You get paid quickly for the services you provide, with no billing, balance, or interest management hassles on your end, and your patients will gain affordable monthly payments with competitive market interest rates. How Will United Credit Help My Patients? We’ll help your patients secure the funds they need to cover the cost of a wide range of medical procedures. Your patients will receive the treatment they require while needing only to make affordable monthly payments thanks to our lending partner network. At UC, we serve and proudly provide access to patient solutions and healthcare provider aid for: Chiropractic Medicine Elective procedures and treatments Hearing Aid Care Plastic Surgery Dental Patient Needs Cosmetic Dental Care Oral Surgery Hair Restoration Surgery Centers Med Spa Treatments Veterinary Treatments and Procedures Weight Loss and Bariatric Treatments and Procedures Frequently Asked Questions About How Patient Financing for Medical Providers Works How does a Provider Benefit From Becoming a Partner With UC to Help Patients Access Financing? –Saritza, Lewiston, Maine When you partner with United Credit (UC), you’re increasing the likelihood that each person who walks through the door becomes a revenue-generating patient. You’re also eliminating the need to bother with payments or credit extensions. When you partner with UC, you don’t have to hassle with credit checks or handling sensitive financial information, such as credit card data. Patients choose the financing option and payment plan that best meets their needs and they pay the lender directly, spreading their payments out over months or longer. This allows you to focus on what you do best: excellent patient care. How Easy Is It for a Healthcare Provider to Sign Up for This Service? – Andersen, Independence, Missouri Signing up with UC is very easy and user-friendly. After you set up your provider account, you just have to fill out one application form, and you will usually receive a response within 24 hours. Once that’s done, you can access our provider portal anytime through any browser using your provider login. It’s just that simple! What Does the Provider Need to Do to Offer UC Medical Finance Services to Patients? – Theresa, Mooresville, North Carolina Once you’re in our system as a partner provider, you don’t have to do anything except ask your patients to apply using your custom application link. We handle the rest, from initial paperwork to getting you paid to managing the patient’s finance account. All you have to worry about is providing quality care to your patients. Are There Any Fees or Costs to the Provider Associated with UC Patient Financing? – Justin, Jenks, Oklahoma Yes. The merchant fees associated with UC’s services are similar to the fees you pay for processing debit and credit cards through your office POS terminals. Keep in mind, however, that the income from UC’s provider network is 100% incremental revenue—It’s extra revenue gained from a specific marketing channel that would not otherwise be in play. Thus, when you take into consideration the extra income and freedom from financial worry that United Credit offers, the merchant fee is reasonable. Aside from this fee, which is deducted from your funds at the time you receive them, there are no other fees. There’s no enrollment fee or monthly or annual fees, making your bookkeeping easier. Patients pay the lender directly under the terms they accepted, freeing you to focus on patients’ well-being rather than the unique problems and vocabulary of high finance. Perhaps best of all, you can get paid in as little as days rather than months! As a Cosmetic Surgeon, What Can I Expect from UC’s Patient Financing for Medical Providers? – Elizabeth, Baton Rouge, Louisiana You can feel confident knowing when you put in your application to partner with us for your patients’ financing needs, you’re not leaving any money on the table and not assuming any of the risk or financial responsibility of lending through your practice. UC’s finance providers offer the best approval rate for the cost. We offer quick, hassle-free funding net of your merchant fee, occasional patient referrals, the ability to serve a broader patient base with less concern on your end about credit score and payment history, and much more! Are There Any Fees When Applying for or Accepting a Loan with UC That My Patients Need to Know About? – Beverly, Oakland, California There is no fee to apply for a loan from UC’s medical financing network. Patients are never obligated to accept any loan they are offered. Our lenders do not charge penalties for paying off loans early, making UMC a flexible alternative to other options for patient financing for medical providers on the market. Choose the Best Financing for Your Patients with United Credit Our A+ rating with the Better Business Bureau, fast turnarounds, and competitive finance interest rates have made us one of the premier healthcare lending brokerages in the nation. From the cosmetic surgeon in Beverly Hills to the orthodontist in Rapid
How to Decide if You Need an Interest-Free Loan for Medical Bills
Interest-Free Medical Loans: Are They Your Best Option? If you’re looking for a loan to cover the expense of an urgent medical procedure and you see a creditor offering “financing at zero interest for a year,” you’re likely to want to learn more. On the surface, interest-free loans may seem like an excellent deal. After all, they can give you an opportunity to receive treatment quickly, and repay the loan at your convenience without paying any interest on the principal. But are interest-free loans for medical bills really a good idea? Or is there more to zero-interest loans than meets the eye? In this article, we explain what interest-free medical loans are and highlight some of the common pros and cons so you can decide if they’re the best option for you. How Interest-free Medical Loans Work How interest-free medical loans work is simple. The creditor assumes all the risk by providing applicants with upfront access to the funds they need to pay for their medical treatment. This arrangement works well for both the hospital and the patient, because the patient receives the treatment they need and provides care without worrying about debt collection. The patient also gets to divide a large bill into smaller monthly payments, making the cost of medical treatment more affordable. Interest-free medical loans can become complicated if you don’t pay back the loan within the allotted time frame. The loan provider typically offers a promotional period during which the loan must be repaid in full; this could be 6, 12, 18, or 24 months (depending on pre-agreed terms). If you complete repayment within that time frame, you only pay back the principal. However, if full payment is not completed before the promotional period elapses, you’ll have to pay the principal plus interest accrued in retrospect. For example, let’s say you take out a loan of $1,200 (at a 26.99% annual percentage rate, or APR) with a six-month promotional period to cover the procedure’s cost. From the time you accepted the loan, interest (at 26.99%) is being accumulated on the principal. If you pay off the $1,200 within the first six months, you’ll be in the clear and won’t be on the hook for the accrued interest. If, however, by the seventh month, you fail to pay off the entire $1,200, your balance becomes the remainder of that $1,200 (whatever you haven’t paid off) in addition to that interest rate that has been compounding the entire time. Until the loan is fully repaid (the remaining $1,200 plus the accumulated interest), an interest of 26.99% will be charged annually. Let’s explore this further by looking at the pros and cons of interest-free loans. The Pros of Interest-free Loans Some benefits to interest-free loans for medical bills include: Fast cash—If you’re in the middle of a medical crisis and need treatment quickly, but lack the funds, securing an interest-free loan can help. You can get the help you need and worry about paying for it later. Variety of loan options—You have a lot of options, making it easy to find the loan terms that work best for you and the specifics of your situation. Flexibility—Your medical bills may extend beyond what the hospital charges you. You may need to cover related expenses, such as gas, hotels, food, and anything else that happened as a result of your injury or illness. An interest-free medical loan can help with this as well. The Cons of Interest-free loans Here are some reasons why applying for an interest-free medical loan may not be a good idea: High APRs—Interest-free loans charge higher APRs than regular credit cards or loans. Many applicants see only the promise of zero-interest financing and fail to read the fine-print about the interest rates and are later caught by surprise. Sudden cancellations—Some medical loan providers will cancel your promotional period immediately if you are late on just one payment. Easy to overlook the fine print—Creditors will often give loan recipients an option to pay a minimum monthly payment. While that might sound straightforward, if you look closely at the terms of your loan, you may notice that if you only pay the minimum due, you won’t be able to pay off the loan in its entirety by the end of the grace period. For example, if you sign up for a loan of $1,200 with a promotional period of six months, your minimum monthly payment will be set at approximately $36 per month. If you adhere to this payment schedule, you will have a balance of $984 left unpaid after the sixth month. By the 7th month, retrospective interest from the past six months will be calculated and added to the principal. So, despite having paid $216, you’ll have an unpaid balance of $1,136. If you stick to the minimum monthly payment schedule until the balance is paid off, you end up paying $2,693, and it will take 96 months to do so. All things being equal, you should be able to pay off $1,200 within six months. But if you have an unexpected financial challenge during the loan term and you miss a payment, your lender may cancel your promotional period. And if you misunderstand your loan terms and only make minimum monthly payments, you’ll end up paying over $1,400 in interest over an eight-year period. How Interest-free Medical Loans Compare with 0% APR Introductory Period When people see a medical loan provider offering zero interest for a promotional period, they often mistake it for a similar offer credit card companies often provide. An important distinction exists, however. With credit cards, when the introductory period ends, cardholders only have to pay interest on their unpaid balance. For example, if you buy an item worth $1,500 using a new credit card with a 12-month introductory period at 0% APR, you make interest-free payments on the principal during the first 12 months. After the introductory period, interest is charged only on the balance that is left unpaid. With interest-free
