When to Hold Off on Financing Medical Procedures

Instead of pursuing medical financing to cover unnecessary procedures, consider the options you have based on doctor's recommendations. In recent years, medical professionals have begun to question the importance of a number of otherwise standard medical procedures. As the cost of health care rises, doctors are giving their patients a greater say in whether to opt for the expense.

Ask About Downsides

The most important question to ask is, "what will happen to me if I don't have this procedure." You then have to weigh this answer with the potential benefits. For example, a hypothetical disease screening may reveal a disease in about 3% of studied patients. However, if these 3% have no greater survival rate than those who do not have the test, you may choose not to have it.

Consider Necessity

The bottom line for a number of procedures, especially cosmetic adjustments, is whether there is an immediate necessity or whether the procedure can wait. If you can wait until you have the cash to pay for the procedure outright, then using financing is not a smart decision. You will end up paying a large amount more for the exact same treatment, and you will be no better off by having it now rather than later.

blog comments powered by Disqus