Fund My Contract Patient Financing: A Must-Have for Modern Elective Medical Practices

May 23, 2025

Published Jun 2, 2025

Fund My Contract Patient Financing: A
Must-Have for Modern Elective
Medical Practices

Admin

Healthcare practices that are struggling to survive in today’s economy would be wise to set up patient financing solutions to give their clients access to their services when needed instead of when the resources are available. The majority of elective medical procedures are not covered by health insurance which means that patients and providers alike are left waiting due to cost.

That leaves the patient without the much needed care he or she seeks and the practice without the revenue needed to grow, expand, and ultimately succeed in the long run.

But healthcare providers who offer financing options allow for patients to access care by splitting the cost over monthly installments through a payment plan that may also provide easier flexibility for reimbursements at competitive interest rates. Simply put, affordable financing programs help to generate more revenue by empowering patients to move forward with the treatments or procedures they are seeking and allow elective medical practices to enjoy a steady income with higher profits and increased sales.

Fund My Contract has been the pioneer in reducing financial barriers and reinforcing patient access to medical care by giving healthcare providers the tools to succeed through patient financing programs that are mutually beneficial to both patients and physicians.

How Affordable Financing Attracts New Patients

When it comes to providing quality patient care, compromise is not an option. But more patients are putting off the care they need because they are unable to cover the costs out of pocket and when the full balance of the bill is expected to be paid in one lump sum, that puts the patient’s desired medical care further out of reach. The result is a medical treatment or procedure put on hold until the patient is financially stable enough to pay the entire amount upfront.

So the patient puts off the care to a later date, the only trouble is there’s no telling when or if that later date will ever come to pass and this uncertainty can have an adverse effect on the patient’s health and the well being of your medical practice.

But when you offer innovative, fully customizable financing solutions to your patients, the waiting game is no longer necessary because the patient can move ahead with receiving the services you provide. That’s because financing makes the work more affordable.

Let’s say, for instance, your patient is seeking bariatric surgery and the full cost of the procedure, all in, is around $18,000. That can be a rather daunting sum to have to pay all at once. The patient may have even anticipated the cost to be in the thousands, however, he or she still can’t afford to pay in full.

As a result, the patient chooses to wait and that $18,000 in revenue walks out of your medical office.

Now wouldn’t it have been far more advantageous to both your patient and your practice if you were able to present financing options to help make that five-figure sum somewhat more manageable by splitting it up over low monthly payments?

That’s the foundation of financing through Fund My Contract. Empower your patients by increasing their spending power and help them say yes to hiring your medical services when the care is needed. Financing makes the cost more affordable because the patient has options as to how and when they can pay for the work, without breaking their monthly budget.

The result is more patients seeking out your medical practice to receive the care they need when it’s necessary, at a cost that’s affordable over a series of installments.

How Cost Impacts Care

Financing is intended to give your patient more options by making the cost of care more affordable. As a healthcare provider committed to ensuring the best possible health outcomes for your patients, you want to give them every opportunity to receive the care they need even if they don’t have the financial capability to pay for that care.

But you can’t perform these procedures for free either. You have costs of your own that must be covered, paying your staff, purchasing new equipment, monthly overhead bills, all of these financial commitments are your responsibility and if you lack the resources necessary to cover these costs, your medical practice will cease to exist before long.

Unfortunately, most new and existing patients don’t have the cash on hand to pay for the services they need when rendered. When there are no other alternatives, the patient has no choice but to wait and, hopefully, schedule an appointment for surgery or treatment after he or she has saved up enough money to pay in full when the work is done.

That delay is potentially damaging to the patient and your practice and the longer either one waits to proceed with the surgery or treatment for which the patient is lacking the funds, the worse off both of you can end up.

Fund My Contract is dedicated to giving elective medical practices like yours greater opportunities for growth. Your healthcare business shouldn’t have to wait to expand because the patient is unable to afford the cost of care. That’s why patient financing is a must-have for your medical practice. The longer you wait, the greater the risk of your medical practice shutting down due to a lack of revenue.

The truth is, more Americans are putting off care because they can’t afford the costs. They are more concerned about taking on inordinate levels of medical debt and this fear has fueled their reluctance to move ahead with critical medical treatment, much less elective procedures that may not be as urgent. Financial barriers to care shouldn’t keep your patients from accessing the surgery or treatment they want.

Better yet, these barriers shouldn’t be the reason why your practice ultimately fails to survive.

Fund My Contract Makes Patient Financing Simple

Patients contemplating any type of medical procedure have a lot to consider when it comes to their well being and whether or not to move forward with care. As we’ve already discussed, cost plays a rather significant role in that decision-making process. Financing programs can ease your patient’s concerns over the monetary component of their healthcare needs and that’s why Fund My Contract has made the financing process easy to understand.

When your financing programs are simple and straightforward, patients are more willing to explore these options and greenlight the treatment or procedure for which they have sought your medical expertise.

Select the Financing Options that Cater to Your Clientele

You know your patients best and you know what their common objections are with respect to the cost of your services. Working with Fund My Contract gives your elective medical practice access to our network of eager lenders who are ready to work with you to develop the financing programs that suit your patients’ financing needs. You tailor the options you want to offer to your patients and start to include those financing alternatives at your earliest opportunity. For some healthcare providers, that may be during the consultation phase of care, for others possibly even sooner.

Patient Financing as Part of Your Marketing

For some medical practices, it’s never too early to start getting the word out about financing as it can help to generate leads. When prospective patients are looking for the right medical provider to address their health concerns, knowing that provider offers financing options can make the patient more likely to schedule an appointment for a consultation. Good marketing is a cornerstone of every successful enterprise, but when it comes to the medical profession, potential patients become very particular about who they trust with their health and wellness. Whether your practice relies on a website, social media, or even print advertising to generate leads and drive traffic, informing the public that you offer financing can be a powerful tool for bringing in more business.

Your Practice Gets Paid Quicker

The financing options you provide allow for your patients to have important treatments or surgery without having to pay the full balance all at once. But even while the patient is making monthly installments to reimburse the amount that has been financed, your medical practice gets paid in full, upfront, and fast. No more waiting on late payments or chasing down unpaid invoices, when your patient is approved for financing, your medical practice receives the full amount once services are rendered. Your patient then makes payments to the lender with whom he or she has entered into a financing arrangement.

Are You Ready to Offer Financing to Your Patients?

Then it’s time to call Fund My Contract and speak to one of our patient financing experts who can explain how financing can help rejuvenate your elective medical practice by accelerating growth and expansion. Scaling your business is our top priority and when your healthcare practice becomes a member of the Fund My Contract family, we work to ensure that you are providing more patients with the care they need and generating the revenue that puts your practice on the fast track to success.

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