How do you deal with the ballooning cost of medical care? The answer for a growing number of Americans: Pay it with plastic.
Medical credit cards or installment loan companies pitch their services to doctors promising to save them time and money. Hospitals are drawn to these types of plans because they get paid upfront by banks for their services, Crain's Chicago"Lenders, for their part, see an opportunity to capitalize on the growing gap between the cost of medical care and what many Americans can afford," the outlet wrote.to"generate up to 20% more revenue" for medical providers.
Kensel, who ran an orthodontics practice before starting PrimaHealth, blamed inadequate health insurance coverage for the cost crisis. Asked whether doctors should consider lowering their fees, Kensel demurred, saying that most medical costs were"predictable" but that health plans often skimped on dental and orthodontic work, which is often considered"elective."