Q: I’ve had a consultation and qouted prices for surgeries. However I wanted to know if Dr. Eppley particiapates in the Doctors Say Yes finance program. I am willing to do this however only if I’m able to use a good reputable plastic surgeon like Dr. Eppley. Please let me know if he is apart of this type of finance. Thank you for your time.
A: The use of financing for cosmetic surgery, whether it is done through separate financing companies or using one’s own credit cards, is common practice. I would estimate that up to 30% to 40% of cosmetic surgeries across the United States are now financed in some fashion. That is a far cry from what it was a mere decade ago where estimated numbers were around 5%. This obviously reflects the national trend toward financed luxury purchases in general as well as the greater demand for cosmetic surgery. Over the years, my practice has used a variety of financing programs which now number into the dozens. We have had both good and bad experiences with them in terms of ease of use, financing terms, and the ability to get patients actually financed. Currently we use Care Credit as our primary referral for cosmetic surgery financing. They have worked out to be the best in terms of approvals, finance terms, and ease of use for both our office and the patients to work with. I am not saying they are absolutely the best as we have not worked with every single financing agency out there. Just that in our financing experience, they have worked out the best for both the patient and ourselves.
Dr. Barry Eppley
Q: I am wanting to get liposuction and a tummy tuck and I have learned that it is quite expensive. Do people generally pay cash, out right? What financing options are available?
A: Elective cosmetic plastic surgery is not inexpensive and many people considering it do require some financial assistance. While the concept of financing plastic surgery was once rare, it is not quite common. I have read estimates that in 2000 the number of patients that financed surgery was 5%. Today that number is closer to 40% and growing. For these patients, financing could be the only means to afford their desired plastic surgery procedures.
Most, if not all, plastic surgeons are very familiar with a patient’s request to finance their surgery. This is an everyday event in any busy plastic surgeon’s practice. While the plastic surgeon’s office can assist and guide you through the financing process, plastic surgeons do not directly loan money for surgery. Nor do they work out a payment plan so that one can have surgery and then pay out off the plastic surgeon over time. That requires a financing company or back (not usually the best) to work with you to develop the loan amount, interest, and a repayment schedule. Most plastic surgeons are signed up with financing programs that allow you to directly apply to and get very quick responses. Like a car or appliance purchase, you need to think about making monthly payments over a given period of time
There are a large number of companies offering plastic surgery financing. In my Indianapolis plastic surgery practice, we use Care Credit and My Surgery Loans, for example. But there are many other options out there that offer medical loans. Simply google the term ‘plastic surgery finiancing’ and a plethora of them will appear. These medical loans are not necessarily based on the procedure you are considering but on a dollar amount. You can then select the procedure you want to have, and depending on your credit ratings, you could be granted different interest terms.
When considering financing plastic surgery, there are three (and potentially four) costs that you need to be aware of. These include the surgeon’s fee, operating room charges, the anesthesiologist’s fee (if general anesthesia is used), and implant charges. (if some form of an implant is being used) Make sure you know all of the fees that will be required of your procedure so you don’t inadvertently get a loan that is not adequate. Your plastic surgeon should give you an estimate (quote) for all the costs of your procedure. Get a consultation and written quote before you ever finance. Do not take the estimated costs off of a website or some verbal exchange.
Lastly, like all financial and legal documents, double check the agreement terms, interest rates and re-payment time before signing at the dotted line.
Dr. Barry Eppley