Should Physicians Offer Patients Medical Credit Cards?

As healthcare costs rise and reimbursements dwindle, physicians are focusing more on collecting outstanding patient balances. Medical credit cards are a popular choice because they provide upfront reimbursement to the doctors and offer special financing to patients. However, there are concerns that medical credit cards may prey on vulnerable individuals and may warrant tighter regulation. These concerns have prompted federal officials to launch an inquiry, seeking public comments on the issue. Medical credit cards typically offer 0% or low-interest but may have high interest rates and hidden fees after the promotional period. Some doctors support these cards while others have concerns about their impact on patient debt.

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