Fintech Company Medicredit Provides Loans for Access to Plastic Surgeries

One of the healthcare subsectors that has seen significant growth in recent years, in Colombia, is the plastic surgery industry and other surgical procedures. According to the most recent figures from the International Society for Aesthetic and Plastic Surgery (Isaps), the number of procedures increased 20% in the world.

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In Colombia, in 2021, more than 555,000 procedures were performed, making it return to the top 10 countries that encourage medical tourism

To access these procedures, one of the biggest obstacles is financial accessibility, which becomes a huge barrier and causes that one out of two people cannot have any surgery of this kind.

At this juncture Medicredit was created, a fintech company founded by economists and financiers Daniel Robayo and Dario Hernandez, which seeks to provide financial facilities for people seeking aesthetic, dental, or fertility treatment.

“The frustration of many Colombians often lasts up to more than 10 years in which they do not find that ideal financial partner with whom they can materialize the medical, reconstructive or aesthetic procedures they need or long for in accordance with their financial capacity,” said Hernandez.

The economist also pointed out that, through credits, myths have been broken, such as thinking that a private medical procedure has nothing to do with health.

“For example, a bariatric surgery, when the person cannot reduce their body weight by exhausting all avenues to do so, becomes much more than an aesthetic procedure, it is something that dignifies the person while drastically reducing their negative health indicators such as cardiovascular risk, diabetes, their bone health, and even cancer”, he added.

Medicredit has granted more than 1,000 loans in alliance with a solid network of more than 150 long-standing physicians and projects a 35% increase in loans by 2023.

Medicredit solutions deliver loans in terms of up to 36 months

Surgical procedures can exceed $12 million. Liposuction ranges from $13 million to $18 million, rhinoplasty from $6 million to $1 million, breast augmentation from $7.5 million to $10 million, and fertility treatment from $18 million to $25 million. Aesthetics such as botox or toxin range from $1 million to $2.5 million.

“The triumph of our company is undoubtedly working hand in hand with more than 150 doctors, specialists, and surgeons endorsed by different institutions and medical societies reputable and recognized in the country, which provide all the security, knowledge, and experience in each of the procedures, thus taking care of the lives of our customers. In addition, it is impossible to offer personalized and tailor-made loans without a doctor to make a precise diagnosis of what each patient needs. Unlike other financial institutions, it is the triangulation with doctors and patients, where we accompany our clients from beginning to end, that makes us stand out in the market,” said Robayo.

It should be noted that one of the fintech company’s objectives is to protect people from disreputable clinics, which affect people’s quality of life and health.

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(Featured image by Artur Tumasjan via Unsplash)

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First published in LR LA REPUBLICA, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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