Making Surgery Affordable: How EMI Plans Can Help Manage Healthcare Costs

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Making Surgery Affordable: How EMI Plans Can Help Manage Healthcare Costs



Updated on May 21, 2024

Medically verified by Dr. Arya

Fact checked by Dr. Pournami

Financial Wellness

6 min read

Are EMI plans for surgery really worth it? Is it an affordable option ? Will it be effective in the long run ?

Too many questions may arise in our mind when you think of EMI options in case the surgery cost is not affordable.

Don't worry! Mykare Health is here to help you with it. This article will focus on the importance of EMI plans as well as its benefits for common people.

The Increasing Costs In Healthcare

In recent times, the expenses associated with medical treatments, including surgical interventions, have increased, causing financial difficulties for numerous individuals and households in obtaining essential healthcare.

Consequently, novel remedies are surfacing to tackle this predicament, among which is the adoption of Equated Monthly Installment (EMI) schemes to handle healthcare costs.

This piece will delve into the ways EMI plans can render surgeries more economical and reachable to a broader spectrum of individuals.

Before focusing on the advantages of EMI plans, it's essential to grasp the elements contributing to the rising expenses of healthcare, especially surgical interventions.

Numerous factors contribute to the elevation of these expenditures, including progressions in medical technology, heightened demand for specialized treatment, and administrative overheads linked with healthcare provision.

Furthermore, aspects like inflation and the escalating expenses of livelihood can compound the financial strain on individuals seeking medical assistance.

EMI Plans And Their Role in Healthcare

Equated Monthly Installment commonly called as EMI schemes, are traditionally associated with financing acquisitions like electronic devices or domestic appliances, and are presently being expanded to encompass medical costs, including surgeries.

These arrangements enable patients to distribute the expense of their healthcare over a designated time period, usually through monthly payments, instead of settling the full amount in one go.

Such an approach can notably mitigate the economic pressure linked with costly surgical interventions, thereby broadening access to healthcare for individuals across various socioeconomic strata.

Benefits For Patients When They Take EMI Plans

Financial Adaptability

EMI plans grant patients the adaptability to handle their healthcare expenditures within the boundaries of their financial limitations.

By splitting the expense of surgery into smaller, more manageable installments, patients can avoid the financial strain of a single lump-sum payment that helps them to undergo essential medical treatment which is devoid of excessive financial pressure.


For various individuals, particularly those lacking adequate health insurance or savings, the expense of surgery can prove prohibitive. EMI plans eradicate this obstacle to accessibility by furnishing patients with an avenue to feasibly finance their medical procedures.

This fosters impartial access to healthcare amenities, ensuring that individuals can access the treatment they require irrespective of their financial situation.


Coping with a medical condition that requires surgery is already stressful even without the added concern of the associated expenses.

EMI plans afford patients peace of mind through a structured payment regimen, allowing them to concentrate on recuperation sans the supplementary burden of financial ambiguity.

Timely Treatment Option

Monetary constraints frequently compel individuals to postpone or forgo essential medical interventions, with potentially severe repercussions for their health and welfare.

With EMI plans, patients can proceed with surgery promptly, tending to their medical necessities in a timely fashion and conceivably halting the progression of their condition.

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Advantages of EMI Plans for Healthcare Providers

  • Expanded Patient Base

By presenting EMI plans as a payment alternative, healthcare providers can draw in a broader range of patients, including those who might otherwise have been unable to afford treatment.

This can result in heightened revenue for healthcare establishments and a more viable business framework.

  • Elevated Patient Contentment

Offering patients accessible payment choices contributes to overall contentment with the healthcare encounter.

Patients are more inclined to regard healthcare providers favorably if they feel aided in handling their financial commitments associated with treatment.

  • Enhanced Adherence to Treatment

Patients with the means to afford their medical care are more prone to adhere to post-surgical care directives and subsequent appointments.

This can lead to superior treatment outcomes and decreased rates of complications, benefiting both patients and healthcare providers.

  • Considerations for Patients

While EMI plans offer a multitude of advantages, patients should evaluate the following aspects before selecting this payment option.

  • Interest Rates

Certain EMI plans might impose interest on the financed sum, potentially augmenting the overall treatment cost.

Patients should meticulously scrutinize the plan's terms and conditions to comprehend the interest rate and any supplementary charges involved.

  • Creditworthiness

Eligibility for an EMI plan could hinge on the patient's credit history and financial status. Individuals with unfavorable credit ratings or limited income may encounter obstacles in obtaining financing via this avenue.

  • Affordability

Before committing to an EMI plan, patients should check whether they can comfortably manage the monthly payments without risking their financial well-being.

It's necessary to contemplate other ongoing expenditures and financial commitments to ensure that the installment payments remain within reach.

Impact on Credit Rating

Failing to meet EMI payment obligations or lagging behind on installments can detrimentally impact a patient's credit score. A subpar credit rating may impede future borrowing prospects and financial steadiness.

  • Concealed Fees and Charges

Patients should remain vigilant regarding undisclosed fees or charges linked with EMI plans, such as handling fees or fines for delayed payments.

These supplementary expenses can substantially inflate the overall treatment expenditure.

  • Restricted Flexibility

Upon enrollment in an EMI plan, patients may encounter restricted leeway to alter payment timetables or amend terms. This limited adaptability can pose challenges in the event of unforeseen financial adversities.

  • Treatment Limitations

Certain healthcare providers may exclusively extend EMI plans for specific treatments or procedures, constraining patients' avenues for financing other medical expenditures.

  • Risk of Nonpayment

During instances of financial distress or unexpected events, patients might encounter difficulties in upholding punctual EMI payments, resulting in default and potential legal ramifications.

  • Excessive Use of Healthcare Services

EMI plans could encourage patients to undergo superfluous or exaggerated medical interventions, motivated by the notion of economical financing rather than genuine medical necessity.

  • Regulatory Challenges

Alterations in regulations governing healthcare financing or consumer lending practices may influence the conditions and accessibility of EMI plans, potentially impeding patients' access to cost-effective healthcare financing alternatives.

Key Takeaways

In a time when healthcare expenses are consistently increasing, EMI plans present a feasible remedy to render surgeries and other medical treatments more economical and reachable.

By granting patients monetary adaptability and assurance, these schemes enable individuals to prioritize their well-being without the weight of extravagant initial expenditures.

Furthermore, healthcare providers can anticipate advantages from heightened patient intake and elevated contentment, ultimately fostering enhanced healthcare results for everyone.

As the healthcare environment progresses, the inclusion of EMI plans signifies a constructive stride towards attaining fair and enduring healthcare for individuals and communities globally.

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