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Many Australians search for surgery payment plans as soon as they hear from their doctors that they need to undergo a medical procedure.

That’s because surgery can considerably impact your finances in the foreseeable future. An important part of planning for your surgery is figuring out how to finance the cost of your procedure. MONEYME understands that timely and affordable healthcare financing can greatly help your peace of mind. In this article, we outline how to seek surgery financing so you can focus on your recovery without financial stress.

It can be a challenging time to have to undergo any kind of surgery, especially if you need healthcare financing on short notice. Before you schedule your procedure, it’s important to understand how you’ll pay for it, whether it’s through medical loans or surgery financing.

Here are some points to consider:

• Know what your procedure will cost. It’s always best to understand the total cost of your surgery, including any additional or upfront costs or fees, and post-surgery care. If you’re shopping around for surgery payment plans or loans, read the offers carefully to see if you need to coordinate with your hospital or facility’s billing department.
• Know how you’re expected to pay. Find out what payment methods the surgeon or hospital accepts. This might include cash, credit card, or financing options through a lender or bank. Each option may have its own fees, so factor these fees into your accounting of the total cost.

Check your insurance coverage. If you have an insurance policy, check with them first to see if they cover financing for surgical procedures, if the cost is deducted from your final bill automatically, or if you’ll need to submit a claim for reimbursement after out-of-pocket costs. Do this before exploring other payment options, as it could change how much you’ll need to finance.

If you’re thinking about a needed surgery or procedure but are worried about the cost, there are ways to spread out the payments.

• Personal loans. You can use personal loans to cover surgery expenses. These loans work like any other loan: you borrow money and pay it back with interest, at times with low monthly payments. Don’t hesitate to ask your chosen lender about their interest rates and repayment terms to determine whether or not they’re a good fit for your needs.
• Doctor's payment plans. Some surgeons offer their surgery payment assistance or can connect you with in-house financing with the hospital or facility for affordable surgery options. Be sure to compare these to other surgery instalment plans or loans to see which has a better deal. 
• Credit cards. Some credit cards can be used to pay for surgery costs or to cover pre- or post-surgery expenses. A credit card can be an option, depending on your needs. However, keep in mind that credit cards usually have higher interest rates, so if you can't pay the full amount back within the interest free period, you could end up paying more in interest in the long term.

MONEYME offers a variety of loan and credit products that you could take advantage of to cover surgery expenses. If you have any questions about our credit products, you can call us at 1300 329 037 or send us a message via chat. We’ll be happy to hear from you.