Growing demand for paying for medical services in instalments in the Baltics; Latvia significantly lags behind

Over the past three years, Inbank’s financing volumes for medical services have increased by 88% in Lithuania, 216% in Estonia, and 330% in Latvia.

“Our observations show that interest in this service has been growing across all Baltic countries over the past three years. As this is still a relatively new solution in our markets, growth has been rapid everywhere,” says Dainis Skrinda, Head of Inbank Latvia. “Growth in Lithuania is comparatively lower because instalment-based medical services have already reached substantial volumes there, while Latvia and Estonia still have significant growth potential.”

At the beginning of this year, the average financing amount issued for medical services in instalments was €1,232 in Latvia, €988 in Estonia, and €2,080 in Lithuania. Customers most often choose a repayment period of 12 months. The service is used not only for expensive medical procedures but also for relatively small amounts – around €100.

Service providers in Latvia remain more cautious

According to Dainis Skrinda, financing volumes for this service in Latvia are still lower because healthcare providers remain relatively conservative and cautious about “pay in instalments” solutions. In contrast, medical institutions in Lithuania are much more open to adopting new technological solutions to improve service accessibility for their clients.

“Lithuanian companies are more proactive in seeking ways to support their customers and make services more accessible. Meanwhile, healthcare providers in Latvia still tend to prefer immediate payments. However, in recent years, Latvian healthcare providers have become more open to new solutions, recognising that the option to pay in instalments not only improves accessibility but also enhances competitiveness. As a result, we are seeing very rapid growth in demand in Latvia during the first half of this year,” explains the Head of Inbank Latvia.

In Latvia, instalment payment options are most commonly offered by ophthalmology and dental clinics, as well as retailers of medical goods and assistive devices. The use of this solution is also growing in aesthetic medicine clinics – for example, to cover the cost of plastic surgery procedures and various beauty treatments.

Focusing on customer comfort

One of the service providers offering instalment payments is Dr. Lūkina Eye Clinic.

“For several years now, we have offered patients the option to pay for laser vision correction and other procedures in instalments. We have observed that this option is used not only by those who prefer not to pay the full amount upfront, but also by patients who could afford it but choose a smarter approach – splitting a larger payment into smaller parts to avoid impacting their monthly budget. Patients of different age groups use this option, selecting the terms that suit them best – from shorter periods, such as three months, to longer ones of up to 12 months,” says Jeļena Varnus-Ļebedeva, Head of Dr. Lūkina Eye Clinic.

“We see that this option is more than just a convenient payment method – it allows patients to make faster decisions about their health and quality of life, instead of postponing them for ‘sometime later’. For us as a clinic, it is an opportunity to help a broader range of people by removing financial barriers on the path to better vision and overall wellbeing,” she adds.

Meanwhile, Sky Dream Clinic, a dental clinic, notes that its primary goal is to ensure patients have access to high-quality, timely, and sustainable treatment. The option to pay in instalments or use financing solutions allows patients to make treatment decisions based not on price, but on necessity and quality. It also improves public health and service accessibility, as financial availability is one of the key factors influencing the situation.

“This service allows people not to delay treatment and not to ignore symptoms simply because they cannot afford to pay the full amount upfront. In most cases, patients themselves ask whether instalment payments are available, after which the administrator offers to arrange the service. Most often, customers use this option for orthodontic or endodontic treatments. The average loan amount in our clinic is around €3,300 and has remained stable for quite some time,” representatives of the clinic administration explain.

As the application process is very fast, the required treatment can begin immediately. D. Skrinda predicts that the popularity of “pay in instalments” solutions will continue to grow in the future, as interest increases both from businesses looking to offer more flexible options to their customers, and from individuals who can use this solution to start necessary treatment today rather than postponing it.