04 Feb What Is The Estimated Cost Of Regenerative Medicine?
Regenerative medicine has been a hot topic of conversation amongst those in the science and medical communities for quite some time now. There is talk about what results clinical trials have yielded and what potential there is for future results. Regenerative medicine has given hope to those suffering from a wide variety of ailments such as arthritis and neurological conditions. While regenerative medicine has shown a lot of promise for the future, one aspect that is rarely highlighted is the financial cost of the procedures. Understanding the costs can better help patients determine whether or not regenerative medicine may be a viable option for themselves or a loved one.
Regenerative medicine is an umbrella term that encompasses a wide range of treatment options. This can include everything from stem cell therapy to plasma rich platelets to exosomes and cytokines. Regenerative medicine requires a customized and individualized approach to each patient. As a result, each patient presenting with different ailments will have a different plan of treatment. In addition, each person’s body reacts differently to regenerative medicine, which can make it difficult to determine how many rounds of injections are needed. As a result, it can be very difficult to estimate the total cost of a treatment plan in generalized terms.
Consultations are absolutely necessary to get a good idea of what a patient’s out of pocket cost would be for regenerative medicine therapy. However, some ballpark numbers can be thrown around as estimates. Regenerative medicine injections start around $1,000 and can go as high as $8,000 per injection. This is an extremely wide range of cost and greatly depends on what products are being injected into the patient. However, regardless of the amount, it is an expensive procedure, and many patients wonder whether or not insurance covers any of the costs.
Unfortunately, at this time, most insurance companies do not cover the cost of regenerative medicine. This is true for a variety of reasons, including that the procedures are not FDA approved, the procedures are still very new, and insurance companies have not found a way to profit off of regenerative medicine procedures yet. There have been a handful of cases where regenerative medicine procedures were covered by worker’s compensation because the treatments helped get a patient back to work. However, these are far and few between. In general, patients should not expect insurance to pick up any of the associated costs.
There is no doubt that regenerative medicine is an expensive undertaking. It is important to schedule a consultation with the physician who will be performing the procedure to get a better idea of how much you will be expected to pay. Most offices that offer regenerative medicine also offer some kind of payment plan or financing to help their patients afford the cost of regenerative medicine. Regenerative medicine has made a great deal of difference in many people’s lives, and the cost of the procedures should not be inhibitive to a patient’s ability to benefit from regenerative medicine.