Surgical interventions are not always paid for by the health insurance company. If the insurance coverage does not work, hardly a normal earner can avoid credit for the OR.
Various specialist providers of medical credit come directly to the patient. Credit is offered, applied for by post ID and billed directly to the doctor. We wanted to know if the medical loan was really cheap.
For you, we compare the credit information from the rate calculator of a provider with a direct bank loan.
Credit for the operating room – no reason to save on quality
High-quality medicine and professional medical staff are expensive. Saving on the quality of the surgeon can lead to avoidable complications and a lot of suffering. If credit is inevitable for the operation, we recommend saving on the financing costs and not on the operation and follow-up care. But, nobody should trust the qualified doctor as a financial advisor.
Loan offers for medical interventions are in demand. Especially for surgeons with an excellent reputation, the waiting list for preliminary discussions grows daily. The doctor hears the question of the expected costs several times a day. He often looks into faces that reflect the question “how am I supposed to pay that”. As a good service provider, he has the right answer for his patient needs.
Credit for the surgery could come from a medical finance specialist. Such credit solutions are familiar to both dentists and cosmetic surgeons. It is advantageous for the doctor, provided that his patient has a good credit rating and that he does not have to wait for his money. The bank settles with him directly. Whether or not a small commission “jumps out” will remain his little secret, because the doctor is usually not an approved credit broker.
Special credit for the OR – the offer
The offer is roughly the same for all specialist financiers we know. The loan application is offered by Post-ID. Approved credit is billed directly to the doctor. Loans for operations that would be paid within 6 months are interest-free. Interest is only charged from a term of more than six months. For most operations, however, a short-term loan is unfortunately eyewash.
No normal earner would be able to pay off 5,000 – 15,000 dollars in six months. So it is rather interesting how much the loan costs with a term of 24 months or 72 months. The answer can be found on the rate calculator on the homepage of the special providers. For our next credit comparison, the installment loan calculator from the lowest interest rate provider that we could discover provides the financing costs.
Credit comparison loan – special offer versus direct bank
With the convenience of applying for a loan, the special loan is still in the “stone age” of online loan offers. Applications can only be made by post ID. Even two-way written correspondence is required to legally apply for the loan. With direct bank credit, from any free credit comparison, it is more convenient. Video ident enables you to apply for a legally binding loan within 30 minutes – without leaving your home.
For the loan comparison, the rate calculator of the special provider comes first. 5,000 dollars loan for the operation at the specialist provider costs, term 24 months, 6.5 percent APR. Rounded off, the monthly installment payment for the medical loan is USD 222. In total, around 335 dollars of financing costs would have to be paid for the term of 24 months.
We are now questioning a free credit comparison on the credit-independent loan offer of over 5,000 dollars, again with a term of 24 months. You can apply for the OP loan at 2.69 percent APR per video ident. The loan comparison calculator shows the monthly rate at USD 214.15. Overall, the bank calculates financing costs of USD 139.58 over the entire term.
Expressed in smooth numbers, special financing costs 195 dollars more than ordinary consumer credit from the loan comparison calculator.
Credit comparison of 15,000 USDo surgical loan
If 15,000 dollars were taken out for the surgery from the specialist provider, the provider’s rate calculator shows a maximum term of 72 months. In order to keep the rate within an affordable range, we choose the maximum term. The program specifies 9.90 percent as the annual percentage rate for longer terms. The monthly rate is around 274 dollars. The total financing costs amount to 4,725 dollars.
In the free credit comparison, for the credit-independent “everyone’s interest”, the same loan for the would have to be applied for at 3.69 percent APR. The loan comparison calculator shows the monthly rate rounded at 232 dollars. Overall, with a term of 72 months, there are 1,715 dollars in financing costs. In addition to the convenient application via Videoident, the direct bank’s operating loan is cheaper by 3,010 dollars.