Making Medical Aesthetics Accessible with Patient-centered Financing
May 20th, 2025
Derick Downs
Financing options increases accessibility to services and treatments, and allows patients from diverse economic backgrounds to access effective treatments that would normally be out of reach.
Courtesy of Da at Adobe Stock
Approximately 85% of consumers in major global markets, including the United States, plan to spend money on medical aesthetic procedures in 2025 [1]. The Boston Consulting Group (BCG) also reports that since 2019, the industry has grown at a robust rate of 8% per year, projected to reach $27 billion within the next three years. The U.S. is the second fastest growing market at 6% with popular treatments including preventive services, injectables, medical-grade skin care and clinic services. Despite this growth, the industry faces challenges related to costs amid the rising cost of living.
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Approximately 85% of consumers in major global markets, including the United States, plan to spend money on medical aesthetic procedures in 2025 [1]. The Boston Consulting Group (BCG) also reports that since 2019, the industry has grown at a robust rate of 8% per year, projected to reach $27 billion within the next three years. The U.S. is the second fastest growing market at 6% with popular treatments including preventive services, injectables, medical-grade skin care and clinic services. Despite this growth, the industry faces challenges related to costs amid the rising cost of living.
A study by the Rare Group [2] indicates that 78% of consumers considering medical aesthetic treatments over the next year are worried about the economic impact on costs and the market. It is, therefore, becoming increasingly important for practices to create packages and treatment plans that reflect the market and consumer budgets.
The Evolution of Medspa Financing
CareCredit is one of the most well-known solutions in the medical financing space. However, its strict credit requirements have created barriers for many potential clients. The application process can take up to 15 minutes only for the customer to find out they’re not eligible for financial assistance. It’s a limitation that has impacted the medspa’s ability to sell higher-priced packages, which form a core part of their business model.
This gap in the market has driven demand for alternative financing solutions that cater specifically to the aesthetics industry. Several new options have become available, benefiting patients and medical practices.
It is becoming increasingly important for practices to create packages and treatment plans that reflect the market and consumer budgets.Courtesy of crispy at Adobe StockCherry
Cherry has, according to its platform, a 75% approval rate that’s fast and cost-effective, providing patients with access to funds quickly and easily. The solution integrates with electronic medical record systems and offers a unique competitive advantage. It takes less percentage from the total purchase price than their competitors. This makes Cherry an attractive option for medspa owners who want to maximize their revenue while giving customers an affordable and accessible financing plan.
Affirm Pay
Affirm Pay is available through payment processors like Stripe and Square, and it offers a buy-now, pay-later (BNPL) option that allows patients to break their payments up into three manageable payments. The solution has no hidden fees, and the payment plans can be structured to suit the patient’s budget.
The BNPL model, like Affirm Pay, has transformed consumer purchasing behavior across the retail sector. These services have established themselves as a viable financing alternative in ecommerce and for the medspa sector, offering a unique and easily accessible solution for customers.
CareCredit
This payment solution is described as a “health and wellness credit card,” designed to give people access to flexible financing. As mentioned earlier, it is tricky to get accepted and the application process is lengthy, however, it is an industry stalwart and its longevity means it is a reliable and trusted option.
Medspa Group Financing
Another option is to look into proprietary financing offered by some of the larger medspa groups that have established their own financing solutions. That said, this is not an option for an independent practice that doesn’t have the resources to launch an entire investment arm.
Emerging Apps
Then, there’s apps designed specifically for the industry, like WeTreat. This app aligns medical spa treatments with a patient’s primary concerns and then creates a personalized journey that includes connecting patients with the right costs and financing plans.
Prioritizing Patient Relationships for Ethical, Quality Care
The goal should be to prioritize long-term patient relationships over volume-driven models, as this is more ethical and ensures the right quality of care, allowing patients and practices to build treatment plans that suit their needs.
The Benefits of Offering Accessible Financing Solutions
There are several benefits to offering patients a variety of financing options. The first is increasing accessibility to your services and treatments. Financing allows patients from diverse economic backgrounds to access effective treatments that would normally be out of reach. You will also find that patients are more likely to invest in a comprehensive treatment package when their payments are manageable. It also reduces chargebacks as customers are less likely to request a refund when they feel in control of their finances.
Then, there is the added benefit of improved patient satisfaction. When payments are broken down into three or five easy chunks, the decision to invest in a treatment becomes more palatable. There’s less chance of bill shock and more chance of them feeling that they have made an investment into their well-being.
If you want to achieve optimal results, consider strategically timing your service delivery with payment schedules. So, if someone, for example, purchased a set of five laser treatments or skin tightening treatments, spacing them out over a six-month period to coincide with their term on the finance package ensures people continue to feel value throughout their payment term.
The Compliance Consideration
It’s important to remember that while financing does increase accessibility to treatments, it needs to be implemented ethically and within compliance requirements. Medical spa treatments are the practice of medicine and so must adhere to the correct protocols:
Patients need to be medically cleared before purchasing services
Treatment plans should be developed by qualified medical professionals and not selected from a menu
The “First, do no harm” principle must guide all treatment decisions
When patients purchase treatments before a medical evaluation, there is a higher chance of chargeback or refund requests, and this can potentially compromise safety. Always recommend the minimal treatments required to yield optimal results, ensure patient goals are realistic and achievable, and be willing to tell a patient if the treatment won’t deliver the results they want.
The most successful medspas aren’t built on high patient volumes, but on deep relationships with happy customers. You don’t need 300 new patients every month, just 300 of the same people coming back for life. When you blend ethics, personalized service and trusted financing options into a package of their own, you can transform patient engagement and business growth.
Derick Downs is the Marketing Director at We Treat, a company that has helped over 500 independent medical spas and wellness practices with compliance and consulting solutions. With more than 15 years of experience in digital strategy, marketing technology, and web development, Downs brings a data- driven, innovation-forward approach to scaling We Treat’s national brand presence and supporting over 500 med spas and physicians across the country.