Catchy Low Credit Score Alternative – Benefits and Risks

Back in the day, you would have had to use your hard earned cash in order to benefit from anything that a medical practitioner could provide you with. If you didn't have the cash in your pocket, then you were in severe trouble.

Most insurance companies in fact cover elective surgery. Due to many recent innovations, credit card providers, health care professionals and cosmetic surgeons are now able to offer their patients a new payment option. By participating in a credit financing program, all of these doors can be opened for you.

What Is The Upside of Bad Credit Score?

The option of being able to offer your clients a better payment plan will make them keep coming back. If you are able to offer a flexible payment plan to your customers, it will serve to boost your client base. Especially when your clients are desperate to hear any good news about credit cards.

Not only will you be able to offer a wide variety of services but you can also offer a wide variety of payment options. This will serve to place you on a plateau much higher than your competitors.

Specialty finance programs can be used as a tool to reach a larger client base and serve to boost your initial customer rate. Many times a patient will receive the first initial consultation but will not return because they can simply not afford the next visit.

Instead of just losing this business, you can retain it by offering specialty financing. Many customers are faced with financial difficulties on a daily basis, having for example bad credit card score. Therefore, if you are able to offer them a certain payment plan then you are likely to become their primary medical resource.

Generally, financing is available for all types of people and for many different types of procedures. Whether a patient gets it does not depend on his/her credit score. Typically, these types of needs will not be covered by your insurance. These can include anything from fertility treatments to laser eye surgery. Cosmetic and complicated dental surgery such as laser tooth whitening also may not be covered.

Financing Alternative to Credit Cards

If you are searching your options in the healthcare field, Capital One may be an option to consider. This is one of the leading companies that work alongside the healthcare professions. They offer a great financing option to their customers.

GE Capital Consumer Card Company is also becoming quite popular. It is one of the biggest companies in North America to finance plastic surgery. GE generally agrees to pay the doctor within two days of the operations and you can apply for this on the phone, or apply online.

Back in June, 2004, the Florida based company purchased financing availability to their 500,000 monthly visitors using CareCredit. The prospective patients of this firm are now able to apply for a line of credit that can be used for health care procedures. The users of this service simply fill out a chart and are contacted shortly after regarding their availability. These types of applications can even be processed before a doctor is chosen.

"It just makes it even easier for patients to access convenient, low monthly payment plans," says Michael A. Testa, president of CareCredit.

This company currently works in more than 40,000 healthcare offices and has served to benefit over 2 million patients.

What are the benefits to my practice?

1- There are no initial fees to enroll in the program.

2- The provider will get payment up front. No need to wait for a patient to pay.

3- No additional paper work for you to complete

4- Increased revenue.

What are the benefits to the patients?

1- Quick approval process.

2- Making monthly payments directly to the provider that they want.

3- Low fixed interest rates.

4- Negotiable repayment plans of up to 60 months.

5- Zero repayment penalties.

Risks Incurred By Credit Card Alternatives

This can serve as a great option for you but you must keep in mind that there are also several risks associated with it. The general health care advisor will accept credit cards as a form of payment.

When considering reconstructive surgery, it is important to view all of your options. Since this is a fairly new area, the laws are quite vague. It is also important to consult with an attorney before making such choices. And in some cases it is even better to accept only credit cards with good credit history.

Your financial and personal success depends on you and the choices you make. Make the right ones today and reap the rewards tomorrow.

Copyright © 2007-2008 www.Free-Credit-Score-Online.com. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share Opinion: