The Lending Mag recently had the opportunity to learn more about an exciting shift in health care finance, elective health care financing to be exact. Borrowers looking for cosmetic surgery financing will be ecstatic.
Hugh Bleemer, Chief Executive Officer of PrimaHealth Credit gave us a view of the company's goals and vast potential. Mr. Bleemer has extensive experience in the elective health care financing sector and led the growth of Chase Health Advance (JP Morgan Chase’s elective care lending division) from market entry to approximately $1 billion in loan originations.
PrimaHealth Credit has created an online lending platform to help borrowers get cosmetic surgery financing and much more. In fact, the online lender issues loans for procedures such as orthodontic, LASIK & vision, bariatric surgery, dental, hair restoration, audiology and other medical procedure specialties.
This advanced technology lender is focused on transforming patients as well as elective care service providers access to health care financing.
They aim at being the more patient-friendly option, while creating non-punitive financing solutions. PrimaHealth Credit allows patients access to transparent and flexible payment plans that do not charge retroactive interest.
I am thrilled to join PrimaHealth Credit to help establish the company as an industry leader...
PrimaHealth Credit is well positioned to capture market share with a product set that allows for a total finance solution and the most innovative lending platform I have seen.
- Hugh Bleemer
Cosmetic Surgery Financing Loans Made Simpler
The out-of-pocket elective health care market is booming in the United States. Cosmetic surgery financing is becoming more important for consumers because medical procedures like rhinoplasty, tummy tucks, plastic surgery and eyelid surgery are far more common than in the past. More patients are turning towards elective care procedures and it should surprise no one that the costs are bound to go up as well. Interestingly enough, most elective surgery patients are not currently being served by loan companies to fund their procedures.
One of the reasons for that is that most physicians are lacking modern, easy-to-use, patient finance offerings to grow their practices, and patients desire more transparency and less paperwork than what is commonly offered.
We've recently seen an influx of online lenders turning an eye towards health care financing and cosmetic surgery financing, the finance team at PrimaHealth Credit pride themselves on offering smarter, simpler, and more transparent financial products that patients love and doctors value.
The elective care industry is estimated to be worth $87 billion and is expected to reach $106 billion by 2019.
As of now, less than 20% of these elective surgery costs are financed by lending companies.
Finding Ways To Approve Elective Surgery Loans
PrimaHealth Credit was created to provide a viable and simple medical financing solution, that enables elective care providers to serve all their patients. Many potential borrowers think that they can't receive cosmetic surgery financing because of bad credit, but don't simply assume that you don't have good enough credit for your elective procedures.
Check with PrimaHealth, their lending platform analyzes over 200 unique data points in order to enable them to tailor cosmetic surgery financing solutions for customers, including those with credit challenges. If you would like to learn more about this elective care financing option visit PrimaHealth Credit today.