Cataract surgery is an important medical procedure that can significantly improve your vision and quality of life. However, financing cataract surgery can be a cause for concern for some people. When it comes to paying for your cataract surgery, you should be aware that there’s a number of finance options available to you.
This article aims to answer some key questions that will help you make the right choice when it comes to your eye health.
What is the average cost of a private cataract operation?
Before delving into financing options, it’s important to understand the cost of a private cataract operation. Private cataract surgery costs vary by:
- the type of lens used
- the provider
- The location of the hospital.
With that in mind, the average cost for cataract surgery in the UK is currently between £3,000 – £4,000 per eye.
At Practice Plus Group, the surgery itself costs £1,995 per eye. This is over £1,000 cheaper than the UK average. Patients will also need to pay £95 for the initial consultation.
You can find more information about our fixed prices for cataract surgery here.
Your finance options for cataract surgery
Financing your own cataract surgery can help you to avoid the long NHS waiting lists for cataract surgery. It can help you to plan your procedure around your other commitments. If you choose to do so, there are a few finance options available when it comes to covering the costs.
Self-pay cataract treatment
One option for financing cataract surgery is to pay for treatment yourself. This involves covering the entire cost of the procedure out of pocket. While it’s obviously not always possible to go down this route, this provides a straightforward and immediate solution that can deliver surgery within 4-6 weeks for those who can afford it.
Health insurance for cataract surgery
Another avenue for financing cataract surgery is through health insurance. Check with your insurance provider to understand the coverage they offer for cataract treatments. It’s important to read the small print as some policies may cover a portion or the full cost of the procedure, depending on your plan.
You can find our list of approved health insurers here.
Medical loan and financing
For those seeking a middle ground between self-payment and insurance coverage, medical loans and surgery financing options are available. These are all authorised and regulated by the Financial Conduct Authority (FCA). These arrangements allow you to spread the cost of cataract surgery over time, making it more manageable for your budget.
How does cataract financing work?
The terms of your surgery finance will depend on your provider. Most will require that you or your partner:
- are in full time employment
- retired or have some other source of steady income
- are over 18 years of age
- have lived in the UK for several years prior to the surgery.
These financing options will need to be sorted out in advance of your surgery date.
Through our partner, Chrysalis Finance, we offer approved patients a range of interest-free and low APR funding options to pay for one-off private treatments.
Our finance options are available through Chrysalis, our finance partner. Finance is available over 12 monthly payments at 0% or longer-term options are available from 36-60 months at 14.9% APR.
The treatment finance calculator can help you calculate your plan and apply online. Approval usually takes less than 2 minutes and, once approved, payments are made directly to us. This means you can start your cataract treatment as soon as possible.
Are there any hidden costs?
At Practice Plus Group, our pricing is transparent. The price quoted for your surgery, plus £95 for an initial assessment with your eye surgeon covers everything.
Cataract surgery financing FAQs
Understanding how your financing options work is crucial to making informed decisions about your physical and financial health. Our frequently asked questions below are designed to help you choose the most suitable option for you.
Who provides the finance?
Finance plans for cataract surgery can be obtained through our partner Chrysalis Medical Finance who have a number of different payment plans and loans available for patients.
Who can apply for finance?
Financing options are available if you or your partner:
– are in full time employment or are self-employed
– retired and over 50 or recipients of a regular and consistent income
– are over 18 years of age when your Finance Payment Plan starts
– have lived in the UK for at least the last three years.
Which plan will cover the cost of the treatment for cataracts?
Our partner Chrysalis Medical Finance offers a range of financial plans suited to different procedures which cover their full costs.
How do I make repayments?
Repayments are made in monthly instalments via Direct Debit over a pre-agreed period of time. They are subject to the usual guarantee from your bank.
Can you pay monthly for cataract surgery?
Yes, Chrysalis Medical Finance allows you to make monthly payments.
What happens if I miss payments?
Missing payments can have consequences. These include late fees or negative impacts on your credit score. It’s crucial to communicate with your financing provider if you encounter difficulties in making payments.
How long does it take to apply for financing?
The application process for cataract surgery financing varies. It typically involves submitting necessary documents and undergoing a credit check. The timeline may range from a few days to a few weeks. Our partner, Chrysalis Medical Finance, requires an agreement in place two weeks before the planned date of your surgery.
What if I have bad credit?
If you have bad credit, you may still be eligible for certain financing options. Discuss your situation with your healthcare provider to find a solution that suits your needs.
Talk to our team to find out more about the procedure, the costs involved, and the best way for you to cover them.
