If you have already obtained any of these procedures or are considering one in the future, the first thing you should do is understand how to manage your debt. The surgery or procedure may be elective, but paying for it is not. Here we help you compare some of the most common payment methods so that you can organize yourself and determine what is most favourable for you.
Medical Credit Cards
Credit cards specialized in covering medical costs on the surface appear to be a very good option. They are designed for this type of procedure, and you can easily find them at your doctor's office. They usually hook you up with attractive offers during an introductory period of 0% or very low interest. Depending on how long the promotional period is and how much you owe, maybe you can pay off your debt in the expected time. However, suppose you cannot pay the entire amount in the reduced interest promotional period. In that case, you will be responsible for paying the balance you still have outstanding plus cumulative interest on the entire debt.
The Credit Cards
Many people prefer to put this type of cost on a regular credit card that they already have or plan to obtain. Many times they make this decision without clearly thinking about the repercussions and without considering whether other financing options are available. The reality is that many providers of these elective services may be willing to work with you and offer you a payment plan with reduced interest, probably less than that of your credit card. You should discard your cards as a payment option since if you do not repay the cost of the procedure in a month, the interest accumulates. And if you continue to use your cards for other expenses, your balance will continue to increase, which would make this situation almost the perfect formula for you to get into debt.
Obtain A Home Equity Loan
Many people resort to taking out a home equity loan when they get new debt, especially when this debt is optional such as when remodelling a home. This type of loan, despite being very popular, is definitely not the best option since you use your property as collateral if you cannot pay your debt.
Borrowing money from family and friends is still very popular, even if they charge minimal interest. If you need the money immediately and have no credit, friends and family can bail you out. But this is not always a good idea either. If you are actually unable to pay for your procedure with what you have, committing to making monthly payments to a family member or friend may not be as easy as you anticipated. This situation can create an unpleasant dynamic and even ruin family or friendship relationships. Of course, we emphasize that this is when they are purely optional procedures that you can postpone until you are in a better financial situation or until you have saved enough to pay in cash.
Arrange With Your Doctor
One of the best options financially speaking to take care of paying for this type of procedure is to reach a payment arrangement directly with your doctor or provider. Generally, as we already mentioned, your doctor can offer you a more affordable financing option with lower interest (and sometimes no interest) than any credit card. In addition, they may be a little more flexible in the period of time they give you to pay your debt, and if you cannot pay a month, they do not take the drastic repercussions that credit cards use. Of course, the benefits and flexibility of financing the procedure depend on each provider and vary from doctor to doctor. But either way, you're probably better off working with them than with your cards or through a loan. Further, You can also get more ideas on how you negotiate your medical debt.
Let’s say the procedure is to see expression lines removed in your eyes or an eyelid lift surgery. For this type of surgery, you will need approximately $ 2,726. If you plan to have this procedure done in a year, saving $ 227 a month, you can pay cash for your surgery. And the more time you give yourself to do the surgery, the less you will have to save each month. If you decide to do it in two years, you need to save $ 114 a month. If you look at it this way, saving for this purpose is not much in your monthly budget since many times between your cell phone and the cable you pay more than this. To calculate how much you should be saving per month to pay for your elective procedure, simply divide the estimated cost by the number of months before you have it done.
When you are clear about how much you need to save monthly to be able to pay for your surgery, you can then evaluate your monthly budget. If you don’t have $ 227 leftover (to continue with the previous example), it’s time to start cutting some expenses in your budget. Now, you have to be realistic, and if you are living paycheck to paycheck and you spend your salary before receiving it fulfilling your obligations, this is not the right time for you to do any elective procedure. To be honest, you shouldn’t even spend on things that are not necessary, and you should focus on achieving financial stability and start saving first to create an emergency fund. But if you are in a more comfortable situation and your budget allows you to cover your needs and manoeuvre with your budget, Then get down to business reviewing each component of your budget and be creative when making cuts.
Consider other sources
Do not forget to review what your health insurance can offer you and see how far you can negotiate the cost of the procedure with your medical provider. Although your health insurance does not cover this type of elective procedure, find out what your coverage is so that you do not pay more. Also, just as you would buy a car, shop around. Of course, when making a decision to have your procedure done, the price is not the only determining factor, but the quality and experience of your doctor, but despite that, ask prices of several surgeons or doctors in the area so that you have an idea of how much the procedure actually costs and have specific data when negotiating the cost of your procedure. Sometimes we don’t have time for all this, But it pays to be well informed and pay a fair price for the treatment you seek. Fraud and price inflation are always the order of the day. It is up to you, as a consumer and patient, to be prepared and protect your health and financial interests.…
These months in which the heat is not yet strongly felt are a good opportunity to undergo this type of intervention, arrive in better shape for summer and have a more comfortable postoperative period.
Although most plastic surgeries can be performed during any time of the year, doing them in the less hot months may be more comfortable for the patient, especially if it is necessary to use compression suits in the post-operative period and for the care of bruises and scars.
In the case of liposuction and abdominoplasty, as well as breast surgery in women and gynecomastia in men, it is practical to do them at this time of year to get ready for summer. Suppose it is about surgeries on the face, such as lifting or liposuction of the neck and face. In that case, it may also be advisable to perform them during these months, due to the possibility of using high necks or handkerchiefs to hide the post-operative bruising.
But regardless of the time, you decide to enter the ward, following the specialist’s instructions is essential to achieve the expected results.
As in any surgery, this type of intervention is not without risk, so it is essential to take certain safeguards before entering the ward.
The patient should be informed and ask what the surgery involves in general, what are the possible complications that may occur, what should be done in the postoperative period in terms of care and when it is possible to go back to work and resume normal life, including the practice of physical activity. It is also very important that the patient considers the time necessary to carry out an adequate postoperative period.