Patient Financing for Healthcare Providers

Today’s healthcare landscape poses financial challenges for most Americans. Recent data reveals that about half of US adults struggle to afford healthcare costs. Patient financing for providers addresses this concern by offering individuals a convenient way to pay for their medical expenses. Discover how patient financing can transform your practice and help serve those seeking your care. What Is Patient Financing for Providers? Patient financing for providers allows patients to pay their medical expenses over time. Financing medical services can come in different forms, such as a customized payment plan with a specified interest rate. In this arrangement, a third-party provider acts as a lender for the amount owed by the patient. Patient financing services help qualified clients fund treatments that traditional insurance may not cover fully, if at all. Financing services also assist healthcare providers by ensuring they get paid promptly, reducing delays and hassles with payment plans, personal financing, and collections actions. United Credit is proud to be your partner and support your business growth through a financing option that helps consumers get the services and products they need. We have relationships with multiple lenders, which means we have a variety of financing options to serve a wide variety of your customers. Our team is here to support you and your business every step of the way so you can focus on what matters most: your customers. Benefits of Patient Financing for Providers Patient financing can help your healthcare practice bridge the gap between quality medical care and its accessibility to patients, all while improving the financial stability of your organization. Here are the top benefits of patient financing for providers. 1. Empowers Patients An estimated 79 million Americans struggle with medical bills or debt. Unfortunately, individuals struggling to afford health services will likely choose to forego care due to a lack of financial resources. By incorporating patient financing into your services, you can make healthcare more accessible through affordable payment plans. With financing options, patients don’t need to wait for treatments and are empowered to seek medical care when they need it. 2. Improves Patient Satisfaction Third-party financing partners utilize the industry’s newest technologies to take charge of payment tracking and collection, improving productivity and streamlining your operations. As a result, your institution can focus on quality patient care. Affordable financing options also remove the stress of unexpected medical expenses for your patients. With better care, accessible financing options, and improved billing processes, patient satisfaction increases over time. 3. Increases Revenue Patient financing for providers can grow the customer base of a healthcare practice by making services more affordable for patients. You can offer patients another avenue to finance the treatments they want and need without worrying about covering your bill. This option positions you as an advocate for your patient’s health and well-being. You’ll drive patient loyalty and keep them returning to you for more procedures and treatments, building your reputation and word-of-mouth brand ambassadorship from your patients. As your customer base grows, so does your revenue as a healthcare provider. 4. Creates Competitive Advantage  Having more financing options can set your practice apart from other providers. Patients will always choose a healthcare institution that empowers them to get the care they need over a provider who expects them to pay in one lump sum. As a result, you develop a competitive edge and encourage patients to choose your services every time. 5. Helps Achieve Better Financial Stability Patient financing for healthcare providers can help keep cash flow consistent for your practice. Many patient financing companies offer ACH and direct-deposit services to enrolled providers, minimizing wait times for payment and assuring full payment for patients’ scheduled procedures before surgery. Financing reduces strain on providers’ bank accounts and office staff because medical financing companies assume the entire loan risk. It also means that your in-house team won’t spend energy and resources collecting patient payments. 6. Reduces Costs and Administrative Burden In-house financing can be a costly and time-consuming process. It entails hiring employees, training them to handle medical financing, and maintaining the seamless functionality of these processes. Partnering with a third-party financing provider can reduce these burdens by delegating part of bill payment and collection to them. Tailored-fit financing solutions for patients also increase the likelihood of making timely payments, reducing the hassle of dealing with potentially problematic accounts. Why Partner with United Credit? United Credit serves over 5,000 merchants like you, across both specialty healthcare and retail. Here are the top advantages of working with UC. 1. Offers Fast & Reliable Services We offer fast, free enrollment, simple terms on payouts, and financing with no hassles. Because we base our decisions on clients’ creditworthiness and not their medical condition, you don’t have to worry about an insurance company declining to pay for a procedure you’ve already performed. We also allow you and your patients to bypass the roadblock of the strict guidelines many insurance carriers have in place concerning what is and is not classified as elective surgery. 2. Established Reputation in the Industry  At UC, we base our reputation on fast service to patients and healthcare providers, and we have Yelp! and Google reviews to prove it. Building a reputation like that doesn’t happen overnight, and we work just as hard to keep our subscriber providers happy as we do the patients who rely on our medical financing. 3. Easy, online gateway to consumer financing Growing with you.  In September 2022, United Medical Credit became United Credit. Along with our new name, our company expanded to serve not only specialty healthcare practices but also retail businesses. Better financing.  You can gain 30% – 40% more approvals over other standard consumer financing programs*, thanks to our expanded loan options for consumers with prime or even less-than-perfect credit. Faster service.  Our upgraded Merchant Portal is the digital on-demand financing center with real-time reporting on loan status, no paper forms, and expedited disbursements – meaning you get paid faster. Transform Your Healthcare Practice Today Financial issues shouldn’t stand in the way of your patients getting the care they need, want, and deserve, and they shouldn’t be a bar to you getting compensated for your knowledge and skill. Patient financing for providers allows you to make healthcare more accessible and convenient for

How to Finance Cosmetic Surgery

More people are interested in cosmetic surgery as an option to look and feel their best. However, the price tag still stops many people from getting the procedures they want or need. Understandably, you can’t afford to invest thousands of dollars out-of-pocket for liposuction, breast augmentation, or a tummy tuck, but not every cosmetic surgery is for the sake of vanity. Some popular reasons include repairing damage caused by an accident, injury, or illness, such as reconstructive surgery after mastectomy for breast cancer survivors. United Credit believes there’s no bad reason to get the procedures you need. Read through our guide for information on how to finance cosmetic surgery. Financing Options for Cosmetic Procedures Finding financing for cosmetic surgery can feel daunting, but you have several alternatives. When seeking financing for cosmetic procedures, consider these five options. 1. Health Insurance If you have health insurance, it’s worth checking to see if your insurance will cover some or all of the procedures. Sometimes, health insurance will provide at least some financing for cosmetic surgery if the surgery you seek is medically justifiable. For example, a nose job could correct breathing difficulties, or breast reduction surgery may reduce chronic and severe back pain. In that case, your insurance may reduce the amount you’ll expect to pay out of pocket. 2. Hospital Payment Plans It’s no secret that cosmetic surgery can be expensive, and that’s why some providers offer payment plans. With a payment plan, your provider may require an initial deposit before your surgery, with payment of the remainder over time. However, providers may limit payment plan options to patients with a good credit score or require additional collateral. 3. United Credit If you’re searching for affordable cosmetic surgery loans, you needn’t look further than United Credit. We work with multiple lending partners to help applicants find the best loan options with affordable monthly payments, competitive loan terms, and interest rates. United Credit also works with borrowers of varying credit scores, so you can discover options for financing the cosmetic surgery you need, even if you have less-than-perfect credit. 4. Personal Credit Card Many medical providers will accept personal credit cards for cosmetic surgery. However, you should choose a personal credit card wisely. Some credit cards have high-interest rates, which can exponentially increase the cost of cosmetic surgery. If possible, use a low-interest credit card or a credit card with a 0% APR offer to help you pay the loan amount before the issuer increases the APR. 5. A Loan From a Friend or Family Member You may want to avoid cosmetic surgery loans or have trouble securing credit. If so, you could ask a friend or family member for help. However, depending on the amount, doing so could potentially jeopardize close relationships if you can’t meet agreed-upon loan terms. If you have a friend or family member willing to loan you financing for cosmetic surgery, set specific terms and get them in writing to avoid any negative consequences later. The Pros and Cons of Securing Financing for Cosmetic Surgery If you’re wondering how to finance cosmetic surgery, one of the easiest ways is with a cosmetic surgery loan. However, when reviewing your options, you must consider the pros and cons of using a loan to cover your procedure. Pros You can get the surgery you want or need right away With United Credit, you can find the loan terms that best suit your needs through our lender network You won’t need to ask friends or family members for a loan A cosmetic surgery loan may help you build or rebuild your credit score Cons You’ll owe the loan amount plus interest A loan can negatively impact your credit score until it’s closer to being paid off Some loans have high-interest rates, especially if you have a less-than-ideal credit score Frequently Asked Questions What cosmetic procedures can I get financed through UC? There are an array of cosmetic procedures you can finance through our lending partner network. United Credit can connect you with financing options for a variety of surgical cosmetic procedures and treatments, including breast augmentation, tummy tucks, facelifts, and more. We have a diverse selection of cosmetic surgery financing through our lenders. How does cosmetic surgery financing through UC work? Our online application process is simple and fast. It only takes a few minutes to complete our simple online application, and you’ll have access to multiple financing options with affordable interest rates and payment terms through our lending partners. You’ll receive a response from our lender network the same business day, with options that help you find a payment plan that fits your needs and your budget. Will my credit score affect my application? Your credit score depends on several factors, including your current income, history of making timely payments for existing loans, whether you’re currently enrolled in debt forgiveness programs, the ratio of “good debt” to “bad debt,” how long you’ve had a credit history and your bank account history. If you find incorrect information in your credit history, you have the right to appeal it and request your score be corrected. This can help you improve your credit score. However, just because your credit history is less than ideal doesn’t mean you can’t get a loan. When you submit an application, our initial check is what’s known as a “soft” credit inquiry which does not impact your credit score. Individual lenders may run a hard credit check, which will impact your score, which is why it’s essential to know what your credit report contains. How do I determine my credit score? You can get a credit score from any of the major credit bureaus. Depending on the rating scale a specific credit bureau uses, your score may be higher or lower. Does my doctor’s office need to be enrolled with United Credit for me to get financing? The short answer is generally no, your doctor does not need to be enrolled with us. However, certain payment plans may require your doctor to be

Loans for Plastic Surgery: Tummy Tuck

A tummy tuck, or abdominoplasty as defined by PlasticSurgery.org, is the surgical process of removing excess fat and skin, and in most cases restoring “weakened or separated muscles to create an abdominal profile that is smoother and firmer.” TummyTuckCost.com adds that abdominoplasty can “smooth unsightly stretch marks beneath the navel” which commonly occurs after pregnancy or excessive weight loss. As the American Society of Plastic Surgeons states, a tummy tuck is a highly individualized procedure that should be done to fulfill a personal commitment to look and feel better—not to appease someone else’s desire, or fit into an idealized image. Possible candidates are those who are physically healthy, at a stable weight, have realistic expectations, and do not smoke. Women who are still considering getting pregnant in the future—or those who are planning to lose substantial weight—should postpone this kind of surgery, as these actions can diminish the results of a tummy tuck. The Different Types of Tummy Tucks There are several types of tummy tucks based on patients’ individual cases. A traditional tummy tuck requires work throughout most of the abdomen, which involves a large incision from hip bone to hip bone. And an extended tummy tuck calls for a larger incision. This is recommended for patients with lower belly flab beneath the navel. Generally, these two types of tummy tucks are for those with the most corrective issues. A less invasive form is the endoscopic tummy tuck, wherein a camera on a long tube is inserted through small incisions. This type involves minimal bruising, swelling, and scarring. Laser and mini tummy tucks are also available for patients within 10% of their desired weight. How to Prepare for a Tummy Tuck Once you’ve decided to undergo a tummy tuck, you will need to undergo the following preparatory procedures: Receive lab testing or medical evaluation. Take certain medications or adjust your current intake. If a smoker, completely abstain from smoking well in advance of surgery. Stop taking aspirin, anti-inflammatory drugs, and some herbal supplements (which can increase bleeding). Tummy Tuck Costs to Consider According to ASPS, the average cost of a tummy tuck is $6,253, based on 2018 statistics. This cost does not include anesthesia, operating room facilities, surgeon’s fee, medication prescriptions, medical tests, post-surgery garments, or other related expenses. It is also important to consider where you get your tummy tuck. For example, the procedure will likely be more expensive in New York as compared to Mississippi. The cost is also higher for females because there are more tests needed. Most insurance companies consider this an elective procedure, so your policy will most likely not cover this. Aside from spending savings or maxing out credit cards, a more viable option is to get a plastic surgery loan. United Credit helps potential patients obtain financing for cosmetic surgery procedures such as tummy tucks. As an intermediary, United Credit carries more than a decade of experience and a track record in service reliability when it comes to helping prospective patients get loans for plastic surgery, bariatric surgery, fertility procedures, dental surgery, Lasik and eye operations, hearing devices, and other general healthcare needs. United Credit offers Same-As-Cash (SAC) programs ranging from 6–24 months on approved credit with provider participation. For more information on loans for plastic surgery and other interventions, contact (888) 647-4333, send an e-mail to info@unitedcredit.com, or visit their website. The Pros and Cons of Tummy Tuck Surgery Tummy tucks are a popular way for patients to achieve their body goals. In fact, it’s the sixth most common cosmetic surgery according to the American Society of Plastic Surgeons.So why get a tummy tuck? There are many pros and cons of tummy tuck surgery to consider when thinking about undergoing a procedure. Pros of Tummy Tuck Surgery A Slimmer, Tighter Abdomen: Tummy tucks surgeries remove excess skin and small amounts of fat to help contour and tighten abdomens and waistlines. Reduced Stretch Marks: Another great benefit of tummy tuck surgery is reducing or eliminating stretch marks on abdominal areas. Reduced Scarring: Like stretch marks, scarring on abdominal areas can be significantly reduced or eliminated with a tummy tuck. For example, a tummy tuck can be used to contour and improve the appearance of scars from a C-section or other abdominal surgery. Functional Lifestyle Improvements: Excess abdominal skin and fat can cause pain, chafing, excess sweating, back pain, urinary incontinence, and even skin infections. Therefore, tummy tucks surgeries can improve these medical concerns and lead to significant lifestyle improvements. Improved Self-Confidence: A tummy tuck can help you feel more confident and free in your own skin, including during intimate moments, swimsuit season, or finding outfits you never thought you could wear before. Better Fitting Clothing: Removing excess skin helps your clothes fit better, so you don’t have to worry about bulging abdominal areas—or struggle to find clothes you like and enjoy. Cons of Tummy Tuck Surgery Considerable Recovery Time: A tummy tuck is a significant abdominal surgery that requires substantial recovery time. It’s not uncommon for patients to require 2–3 weeks off work for recovery. Additionally, patients are advised against doing intense or core workouts for even longer. Swelling Period: Even after the initial recovery period, most patients undergo a swelling period for a few months before the full results are completely visible. Financial Cost: Tummy tucks can be very expensive, especially if you live in an area where it’s more costly to get the procedure done. Not Covered by Insurance: Unless your insurer deems a tummy tuck medically necessary, it likely won’t be covered. Fortunately, United Credit can help find financing options that suit your budget, procedure, and repayment preferences. Must Maintain Weight to Ensure Best Results: Any significant weight gain, including pregnancy, can negatively impact your tummy tuck results. Tummy Tuck Plastic Surgery FAQs What will my tummy tuck surgery cost? The best way to find out is to speak to your surgery clinic. The average cost of a tummy tuck procedure is approximately $6,000. Many patients opt for financing options for their mommy makeover.