General
Afterpay for elective surgery sparks warnings of financial risk
Elective surgery patients will have the option to delay payments for procedures worth tens of thousands of dollars, as the buy now, pay later industry enters the private health system for the first time in Australia.
Key points:
- Buy now, pay later is being trialled for patients at three Australian hospitals
- Patients will be able to borrow up to $10,000 to fund surgery
- But financial counsellors are warning of risks
St John of God Health Care’s hospitals at Murdoch and Mt Lawley in Perth and St John of God Berwick Hospital in south-east Melbourne are starting a six-month trial with credit lender Openpay.
They will allow patients who have dropped their private health insurance and are self-funding their health care to set up payment plans for…
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