Will Insurance Companies Ever Cover Regenerative Medicine?

There are five words that can break a doctor’s heart: ‘my insurance doesn’t cover it’. The patient who says this to a doctor is essentially rejecting treatment because it’s not covered by insurance and the patient has no means to pay for it. Unfortunately, such statements are spoken all too frequently by patients who could otherwise be successfully treated with regenerative medicine.

Procedures like platelet-rich plasma (PRP) and stem cell therapies have proven themselves beneficial among people who can afford them. The problem is, insurance companies do not cover the procedures except under rare circumstances. The question many patients are asking now is whether insurance companies will ever cover regenerative medicine.

There is hope if you are willing to step back and look at what’s happening within the broad arena that is modern medicine. Four emerging factors suggest that insurance companies will, at some point in the future, begin covering PRP and stem cell therapies for orthopedic conditions, hair loss, and aesthetic medicine.

1. The 21st Century Cures Act

Congress passed the 21st Century Cures Act back in December 2016 to very little media fanfare. In fact, the average American is completely unaware of its existence. The legislation authorized $6.3 billion in funding for the National Institutes of Health and other agencies for the purposes of speeding up the FDA approval process for drugs and medical procedures.

Passage of the 21st Century Cures Act should mean a more streamlined and less expensive process for new approving therapies in the future. Faster and less costly FDA approval would motivate more organizations to submit regenerative medicine procedures.

2. U.S. Market Growth

There is little denying that the market for regenerative medicine services is growing. According to a Reuters report published last spring, the U.S. regenerative medicine market is expected to grow upwards of 33{f836da2089c4f6ac041f592a32b2c3a6b29da20f6bd03832a46b7a74d907c6fd} over the next several years. Insurance companies, always wanting to get their slice of the pie, are not going to ignore that kind of growth forever. At some point, they will be compelled to get on board.

3. More Doctors Training

ApexBiologix.com, a Utah company that trains doctors in regenerative medicine procedures, has already helped hundreds of doctors and clinics get set up to offer both PRP and stem cell treatments. The thing is, Apex Biologix is not alone. There are several similar companies around the country training doctors who want to begin offering regenerative medicine as an alternative. Once the number of doctors reaches a tipping point, insurance companies are going to have to cover the procedures or start losing doctors who drop out of their networks.

4. Consumer Demand

Last but not least is the old standby known as consumer demand. We still live in a market-driven economy, and that goes for medical treatments. Consumers almost always get what they want as long as they’re willing to fight for it. That’s exactly what they are doing with regenerative medicine.

Just like consumers pressured insurance companies for over a decade to start covering things like chiropractic and acupuncture, they are beginning to put the pressure on for regenerative medicine coverage. Combine that with the repeal of the individual mandate as part of GOP tax reform, and there’s a real possibility that some of the biggest insurance companies will start seeing a drop in subscribers unless they get on board.

Insurance companies are not covering regenerative medicine procedures yet. However, there are signs suggesting things may change in the future. It may be only a matter of time before coverage for PRP and stem cell treatments are standard.

All about Personal Injury Law

Personal injury law (tort law) will allow an injured person to get compensated from a civil court for all losses that stem from an accident or other incidents. The law applies to a wide variety of situations such as:

. Accidents –

The law applies when someone acts in a negligent manner and cause injury to another person – car accidents, medical malpractices, and slip and fall accidents at your workplace are some of the examples.

. Defective Products –

This is another area where tort law applies. Under such circumstances, the defendant can become liable for causing unintentional harm to another person through a defective product.

. Defamation –

This is another instance when a person could be held liable for causing harm to another person through a defamatory statement to tarnish the other person’s reputation.

. Intentional Acts –

Here a person can be held liable for causing intentional harm to another person such as assault and battery.

This article provides information on personal injury law and why you should choose a reliable personal injury lawyer to handle your case.

Since no two incidents are the same, the law will apply differently to different situations. But there are many standard steps that need to be followed when applying tort law. The defendant will do something to injure the plaintiff such as a bad act on the part of the defendant. In fact, if it is a contractual breach, it will be handled under a separate branch of law known as Contract Law. Next, the plaintiff will determine that the defendant breached a legal clause and file for compensation to recover the losses that resulted due to this breach. That is where you need to seek assistance from a reliable personal injury lawyer.

With a host of lawyers operating on the market, finding the right personal injury lawyer is not going to be easy. Although you may find hundreds of lawyers functioning out there, no two personal injury lawyers are created the same. You shouldn’t rely on the first TV commercial that you come across when seeking help from a reliable personal injury lawyer. There are many things to consider when finding the best candidate for the job.

Personal injury is a highly specialized area of law. Hence, you will benefit by working with a qualified and experienced lawyer when you have been injured due to someone else’s mistake. Many personal injury cases involve working with insurance companies and healthcare institutions. Hence, the right lawyer needs to be thorough in these areas if you are to get the best legal remedy for your situation. The right lawyer should understand all facets of your case and the compensation that you might be entitled to. In fact, they should be able to get the maximum compensation for you by defending your case in a court of law.

Assemble a list of potential lawyers in your area as a start to finding the best personal injury lawyer for your case. Personal referrals are some of the best ways to hire a reputed injury lawyer for your case. If you have a family member or friend who has worked with such a lawyer in the past, ask for the contacts of the attorney. That way you can save a lot of time in the selection process. Searching Google or Yahoo is another popular method of finding a reliable lawyer in the area.

In conclusion, personal injury law allows an injured person to get compensation from a civil court for all losses accrued due to the accident. You need a reputed personal injury lawyer to handle your case under such circumstances.