Patients today approach medical care very differently than they did even a few years ago. Rising healthcare costs, high deductibles, and unpredictable out-of-pocket expenses have pushed many to rethink how they pay for treatment — from routine visits to elective procedures. At the same time, consumer expectations have shifted across every industry. People now assume they’ll have a flexible payment method for almost anything, including healthcare services.

That’s why buy now, pay later (BNPL) has become one of the fastest-growing healthcare financing trends. BNPL options feel familiar, convenient, and transparent, making them a natural fit for patients who want to manage medical bills without sacrificing financial stability. And for practices, these payment solutions can streamline patient payments, improve cash flow, and strengthen the entire revenue cycle.

Let’s look at why BNPL services are becoming the preferred choice for patients — and how healthcare providers can benefit by offering them.

Rising Healthcare Costs Are Changing Patient Behavior

We’re in an era where medical expenses place a significant financial burden on households, even those with decent health insurance. High deductibles, increasing medical costs, and inconsistent coverage have left patients with more out-of-pocket costs than ever. It’s no surprise that many are turning to financing options that let them pay over time rather than making an upfront payment.

Whether it’s dental care, an elective procedure like LASIK, or even vet care, price-sensitive patients are asking for affordability and predictable monthly payments. BNPL solutions give them exactly that — a clear pathway to get the medical care they need without accumulating medical debt or delaying treatment.

Patients Expect the Same Payment Flexibility They See Everywhere Else

The healthcare industry is no longer insulated from consumer trends. Patients expect their healthcare practice to offer the same level of payment flexibility they encounter in retail, travel, and fintech apps. BNPL fits perfectly into this shift by offering simple installments, transparent pricing, and a mobile-first experience.

Instead of relying solely on credit cards or medical credit cards, patients now prefer payment options that feel straightforward and modern. Buy now, pay later options offer patients clear repayment terms up front. Cherry, for example, offers transparent terms from 6 weeks to 60 months that qualified borrowers can choose depending on their budget — no deferred interest traps, compounding interest rates, hidden fees, or revolving balances.

Transparency Makes BNPL More Appealing Than Traditional Credit

Patients have become increasingly wary of lenders that use complex terms, revolving credit, and deferred interest structures. With most BNPL options, the repayment schedule is clear from the start, and there’s no guesswork about how much patients will owe by the end.

For example, Cherry offers qualified borrowers an always-interest-free Pay in 4 option as well as true 0% financing for longer-term options, making affordable healthcare payments possible for those who once felt priced out of treatment.

By comparison, patients using medical credit cards often face interest structures designed to make it harder for them to get out of debt. Minimum payments, compounding interest, deceptive promotional offers, and high post-promo APR are just a few of the traps new cardholders fall victim to. Of them, deferred interest is particularly damaging. Here’s how it works:

These “no interest if paid in full” offers or “0% promotional APR” periods only last for a limited time — and if they expire before the cardholder has paid off every last dollar of the debt, or if the cardholder has missed a single payment during the period — interest can be charged retroactively from the purchase date on the full original amount (not the amount left over at the end of the period).

True 0% APR financing, on the other hand, means no deceptive promotional periods, deferred interest traps, or compounding interest. Just 0% paid in interest throughout the life of the loan, no matter how long the term is. That difference in functionality and transparency drives significantly higher patient satisfaction with BNPL options (though some BNPL providers use deferred interest. Be wary of “no interest if paid in full” offers).

BNPL Expands Access for Patients With Limited Credit Histories

Many patients have a thin credit history, lower credit score, or simply prefer not to use traditional credit products. BNPL shines both for these patients and for the providers striving to expand treatment acceptance.

Instead of relying entirely on FICO scores, BNPL lenders often use alternative underwriting criteria to evaluate eligibility. Cherry, for example, uses a soft credit check and its own proprietary algorithm to go beyond traditional financial indicators — helping practices approve more than 80% of patients without affecting their credit score.

For patients, this means:

• More accessible financing solutions
• Less stress about qualification
• A smoother patient experience overall

And for providers, improved access translates into more completed treatment plans, higher revenue, and a more measurable impact on the healthcare community.

Instant Approvals Reduce Friction at the Point of Care

Traditional medical financing applications can slow down treatment decisions or make patients delay treatment — sometimes indefinitely. BNPL changes that dynamic by offering near-instant approvals through mobile devices (Cherry’s decisions happen instantly after a quick 60-second application). It’s fast, it’s simple, and it removes a major barrier in the patient journey.

When patients can see their interest rate, monthly payments, and approval decision right away, they feel more confident moving forward with medical procedures — whether that’s for dental care, plastic surgery, or non-covered medical expenses.

Flexible Payment Structures Encourage Patients to Accept More Care

Often, patients decline or scale back treatment plans because the upfront payment feels overwhelming. BNPL solutions solve this by breaking medical expenses into predictable, manageable payments.

Some providers offer a broad range of terms — for instance, Cherry allows borrowers to spread their payments across as many as 60 months if that’s their preference. Or, if they prefer to pay their expenses off faster, they can do it in as little as 6 weeks. That kind of payment flexibility enables practices to support a wide variety of budgets while improving patient acceptance of care.

This flexibility also reduces cancellations and results in more completed treatment plans, which supports both better patient outcomes and healthier practice revenue.

BNPL Can Improve Patient Loyalty and Word-of-Mouth Referrals

Patients remember when a practice makes their care accessible. When a healthcare practice offers flexible payment plans that reduce financial burden, patients feel understood and valued. That experience often translates into stronger loyalty, positive online reviews, and referrals to friends and family. In a competitive healthcare environment, flexible payment options can serve as a meaningful differentiator.

Why More Practices Are Choosing Cherry as Their BNPL Partner

While the BNPL landscape includes several well-known names — from Affirm to CareCredit — many healthcare practices look for specialized BNPL solutions designed specifically for the healthcare industry.

Cherry is the choice of over 50,000 practices because it aligns well with what both patients and providers need:

• A 60-second application that doesn’t harm credit score
• Instant decisions and 80%+ approval rates across borrowers of all backgrounds
• Loans up to $50,000
• True 0% APR for qualified borrowers (no deferred interest traps)
• Flexible terms from 6 weeks to 60 months
• A modern, mobile-first payment processing experience
• Upfront payment to practices
• The lowest merchant fees in the industry
• Approvals exclusive to the clinic where the patient was approved
• Easy implementation for healthcare systems, clinics, and individual providers

The result: more patient payments completed, less financial stress, and a smoother revenue cycle.

BNPL Is Becoming the New Default for Healthcare Payments

The shift toward buy now pay later isn’t slowing down. As healthcare expenses continue to rise and patients demand more convenience, BNPL options will become an essential payment method across the healthcare industry.

For patients, BNPL provides:

• Affordability
• Predictable repayment
• Access to medical care without relying on credit cards
• A way to manage out-of-pocket expenses with less anxiety

For practices, BNPL delivers:

• Faster and more reliable healthcare payments
• Increased acceptance of elective procedures and medically necessary treatment plans not fully covered by insurance
• Improved cash flow
• A streamlined revenue cycle
• A better patient experience from start to finish

BNPL isn’t just a trend — it’s a reflection of how the modern patient wants to interact with healthcare providers. Practices that offer patient financing through BNPL services are meeting patients where they are, with payment solutions that fit their lives instead of complicating them.

As the demand for financial flexibility grows, offering BNPL isn’t just a value-add — it’s becoming a requirement for any healthcare practice that wants to stay competitive, increase treatment acceptance, and support patients through rising healthcare expenses. Find out why over 50,000 choose Cherry as their partner in this new era of healthcare financing. Claim your personalized demo here.