A Study of Patient Financing Alternatives for Cosmetic Surgery J. Michael Morrissey, M.D., Venkat Rao, M.D.,MBA

The cost of a cosmetic procedure is a major consideration for most patients seeking aesthetic surgery. Two-thirds of all cosmetic procedures a plastic surgeon loses, whether to another doctor or due to the patient’s decision to forgo the procedure entirely are based solely on financial considerations. A number of on-line companies offer alternatives to cash and credit card payments to patients seeking cosmetic surgery. Financing companies offer flexible payment options in order to enable patients to obtain the cosmetic surgery they desire as well as help surgeons grow their practice. Many of these companies expect the plastic surgeon to pay a fee for participation in their program. The purpose of this study was to examine various financing alternatives available for patients seeking cosmetic surgery and help the plastic surgeon determine whether or not to subscribe to these services. A cost-benefit analysis and financial sensitivity analysis will be discussed.