How does the patient loan process work?
The process is designed to be simple for your clinic:
- You send your patient a secure application link.
- The patient completes the online application.
- The patient receives an instant approval or decline.
- If approved, your clinic receives an email requesting the treatment start date and to confirm that patient details.
- You confirm the treatment start date through a quick online form.
- The patient signs the loan agreement and Direct Debit mandate.
- The funds are transferred to your clinic before treatment begins.
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Patient Finance and Application Process #
How long does a loan decision take?
Most decisions are made within minutes. Some applications may require further review, which is usually completed within twenty-four hours.
Does the clinic have to assess the patient’s credit history or affordability?
No. Medicred handles all credit checks, affordability assessments, identity checks, and regulatory duties relating to the lending products we provide, so your clinic does not need to manage the credit process itself.
What if the patient requires a loan term longer than twelve months?
Medicred offers longer-term finance options directly to patients through its website. These products may include interest, but they do not affect your clinic and carry no cost or involvement on your part.
If a patient chooses a longer-term loan, they will apply directly with Medicred. Once approved, the patient may choose for the funds to be paid either to themselves or directly to your clinic to cover their treatment. Your clinic does not provide advice or take part in any part of the application or approval process.
Are there limits to the types of treatments that can be financed?
Medicred supports finance for a wide range of private healthcare treatments. If your clinic is unsure whether a treatment is eligible, our team can confirm this for you.
What information does the patient need to apply?
The patient will need to complete the online form with their personal, employment, and financial details so that Medicred can carry out the required checks.
Is there a minimum or maximum loan amount?
Medicred can finance a broad range of loan values. If your clinic regularly provides higher-value treatments, we will support you in offering the appropriate finance options.
