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    Weight Loss Surgery Compared: Discover vs Avant

    Bariatric surgery aims  to reduce the size of the stomach or limit the absorption of food in a healthy manner to help you lose weight. While these procedures can deliver substantial weight loss, they can be expensive to finance. 

    In this article we’ll take a look at the types of weight loss surgery and the costs associated with them. We’ll also compare the financing options available from Avant and Discover - two of America's leading medical loan providers.

    What Is A Weight Loss Surgery Loan?       

    If you need to finance your bariatric surgery, you may be wondering what loans are available for this specific purpose. Weight loss loans are a type of medical loan. They are usually unsecured and feature repayment periods ranging from one to five years on average. 

    • Applying for this type of lending product is simple. Avant bariatric surgery loans offer online applications as do the financing offerings from Discover loans
    • You’ll need good credit to qualify for a medical loan and the higher your score, the more affordable your interest rate will be
    • The total fees and interest payable on your loan is expressed by a figure known as the APR (Annual Percentage Rate). This number can guide you when comparing different lending options 
    • The amount you’ll be able to borrow depends on your income, employment situation, and also your credit score

    What Are The Different Types Of Surgery?          

    Before you apply for a medical loan, you’ll need to work with your doctor to decide what type of surgery is the best fit for your unique situation. There are several kinds of bariatric procedures that may help with weight loss. 

    • Gastric bypass: This procedure essentially divides your stomach in half to reduce the amount of food your body absorbs. It’s usually recommended for people with a BMI higher than 40
    • Gastric Sleeve: During this operation your surgeon will remove a large portion of your stomach to reduce food absorption
    • Duodenal Switch: This surgery causes a drastic reduction in food absorption. It’s usually only performed on obese patients with a BMI of 50 or higher
    • Lap Band: This is a less invasive procedure which involves placing a band over part of the stomach to reduce its size. Patients with a BMI over 30 may be considered for this operation
    • Gastric Balloon: This is the least invasive and cheapest of all the bariatric procedures. A balloon will be inserted in your stomach and inflated to reduce hunger. This is a helpful operation for mildly obese patients who want to optimize their weight loss

    Discover Vs Avant

    If you’re shopping around for medical loans, you’ll want to consider these two providers. Here are some features of their bariatric surgery lending products worthy of comparison. 

    Lender

    APR Range 

    FICO Score Required

    Loan Amount 

    Discover

    6.99%-24.99%

    660 or higher 

    $2,500 - $35,000

    Avant 

    9.95% - 35.99%

    580 or higher 

    $2,000 - $35,000

    How Much Does Weight Loss Surgery Cost?       

    The various bariatric surgeries that are available each come with their own range of costs. Here’s what you could expect to pay for each category of procedure. 

    • Gastric bypass procedures can cost anything from $2,000 to $25,000 or more
    • Gastric sleeve costs range from $2,000 to $20,000
    • Duodenal switch procedures are priced between $20,000 and $30,000
    • A lap band surgery will cost you upwards of $15,000
    • A gastric balloon may cost anything from $2,000 to $8,000 

    Alternative Financing          

    Medical loans are an excellent choice - but if your application isn’t successful you can still find a way to pay for your weight loss procedure. Here are some options to consider. 

    • A Healthcare Provider Payment Plan: Your surgeon or bariatric clinic may offer a repayment plan which lets you finance your surgery in affordable monthly payments. As an added benefit, these amounts may be interest-free
    • Medical Credit Cards: For less expensive surgeries, you may want to apply for a card with a 0% introductory APR and pay down your debt before the promotional period expires. Note that medical credit cards can only be used to pay for healthcare costs
    • Crowdfunding Pr P2P Lending: You may be able to raise the funds you need through the generosity of crowdfunding users or find a private lender using a peer-to-peer financing service

    Bottom Line

    Losing weight is an important part of many patients’ health goals - and bariatric surgery is essential in some cases. Paying for this life-changing treatment can be challenging, but fortunately there are many competitive lending options to choose from. 

    Medical loans are always a good choice when financing an operation - but you should also consider a medical credit card or alternative funding sources too before making a final decision.