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PrimaHealth Credit offers a buy-now, pay-later lending service for elective procedures – TechCrunch

PrimaHealthCredit, a healthcare lending service based in Newport Beach, California, is currently marketing a point-of-sale lending service for selective medical procedures.

Take advantage of the types of financial lending services popularized by companies like Klarna And PrimaHealth Credit confirms that it brings them to selective surgical spaces such as cataract surgery, orthodontic work, dental care and LASIK.

“For many dental, orthodontic, LASIK and cataract surgeries, our BNPL products are the” last resort “and the difference between getting the treatment you need,” said Prima Health Credit, founder and CEO. Brendon Kensel is a statement.

The company expects patients to prepay 25% to 50% of their treatment costs and have a loan repayment period of two to four months.

According to the company, loan prices range from 19.99% to 24.99% in April, with an average loan size of around $ 1,800 for dentistry, orthodontics and LASIK as a whole.

“In the past, if the provider was unable to approve the patient for an existing payment plan, the provider would either stop providing care to the patient or accept the patient anyway, properly assess creditworthiness and provide appropriate service. However, he was under serious responsibility because he was having a hard time recovering the loan, Kensel said.

The program not only handles the formation of loans for medical practice, but also the back office tasks for payments and services.

“Our goal as a company is to remove barriers to patient acceptance and help people who have the means, but not necessarily credit scores, receive quality care that everyone deserves.” Kensel said.

With the PrimaHealth Credit mobile app, patients can instantly receive credit decisions and choose the payment plan that works best for them. According to the company, this service is currently available in Arizona. It is California, Florida, Oklahoma and Texas and will be expanded to all 50 states by 2021.

PrimaHealth Credit offers a buy-now, pay-later lending service for elective procedures – TechCrunch Source link PrimaHealth Credit offers a buy-now, pay-later lending service for elective procedures – TechCrunch

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