Cryptocurrency: The Future of Plastic Surgery Payments?

Abstract

Cryptocurrencies are digital currencies that allow for peer-to-peer transactions, maintained by a decentralized, secure, and trust-based system. Similar to the patient-centered care approach, cryptocurrency empowers the individual to transact, without a third-party, in a safe, largely transparent, and fast way. Awareness of the current economic state and the ongoing growth of cryptocurrency can place plastic surgeons in a unique and opportune position to broaden payment acceptance methods and create a more effective business model. By first creating a digital wallet for storage, and then employing a payment processing tool, transacting with cryptocurrency becomes practical and convenient. This paper explores the advantages and limitations of cryptocurrency and provides a high-level breakdown of the basics of accepting and transacting with cryptocurrency within a successful plastic surgery practice.