Dr. Patrick Hsu and Dr. Kendall Roehl of Memorial Plastic Surgery in Houston Texas have announced they are now accepting Bitcoin and Ethereum for plastic surgery procedures. Memorial Plastic Surgery is now the first practice in Texas that accepts cryptocurrency for cosmetic surgery and reconstructive procedures.
According to Dr. Hsu, "Cryptocurrency provides an alternative payment method, with a number of benefits, which is an attractive option to many of our patients. Cryptocurrency is a stored value investment, which means its value can significantly increase over time. With the potential growth, this form of currency has become increasingly popular to people, especially millennials."
"This past year, we have had a handful of patients and clients who mentioned how great it would be to have cryptocurrency accepted as a form of payment at Memorial Plastic Surgery. With many of our patients coming in from other countries, this form of payment is a nice option to offer. In a standard process, most currency exchanges are done through a patient’s respective bank or third party, following a money transfer to receive their payment, which can be extremely time consuming," says Dr. Hsu, "Accepting direct payment in cryptocurrency will streamline this payment process, allowing for faster transactions that are instantly verified on the blockchain with fewer fees."
Dr. Hsu described how they established the value of the ever fluctuating cryptocurrencies, "Once a patient is ready to make their payment in cryptocurrency, we divide their total surgery or procedure cost by the exchange rate listed on www.gemini.com to determine the amount due in BTC or ETH, at that exact date and time. When the price in cryptocurrency is set, the patient has a 12-hour time frame to submit their payment. Their payment is cleared once it can be publicly verified on the blockchain. If we do not receive payment within those 12-hours, their previous rate is expired, and a new cryptocurrency value is recalculated based upon the current exchange rate at that time."
Memorial Plastic Surgery specializes in breast, face, and body procedures, with a commitment to help breast cancer survivors restore their whole selves.
The price of Bitcoin has been volitile lately reaching a high of nearly $20,000 to $9,829 today.
Even JPMorgan is now backing bitcoin. Jamie Dimon CEO of JPMoragn who once referred to bitcoin as a "fraud" now tells it's clients that "a bitcoin-based exchange-traded fund (ETF) could be the “holy grail for owners and investors”.