Tuesday, December 30, 2008

Patients turning to financing options less

Fox News and the Associated Press are reporting that in Arizona and nationwide, some patients are either exploring financing options or putting off cosmetic surgery altogether, while the rest are seeking "beauty on a budget."

From the article:

"Even in the downturned marketplace, patients are visiting our offices for procedures like Botox an average of 2.9 times a year compared to the national average of 1.3 times," said Gulbranson.

On the other hand, the society's survey found a steep drop in demand for major plastic surgeries including breast augmentation and nose reshaping.

Some lending agencies that provide loans for cosmetic surgery are also struggling.

"Some lenders have gone under, others are tightening credit, but still others are doing fine despite the market," said Kelly Schnarr, account manager for Surgery Loans..."

We probably do financing for about 10% of our patients. Most of our patients pay with credit card or check, and rarely cash. But many areas of the country are different, and we're going to hear from some other surgeons later in the day.

Thanks for reading,
Dr. Jason Pozner
Sanctuary Medical Aesthetic Center

Dr. David J. Goldberg
Sanctuary Medical Aesthetic Center
Skin Laser Surgery Specialists NY/NJ

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