Bariatric Surgeon – Page 2 – Weight Loss Diet Solutions

4 Options for Bariatric Surgery Financing

Are you in dire need of bariatric surgery but lack health coverage for the treatment? Patients who do not have the financial means to pay for bariatric surgery can turn to patient financing as a payment option for the medical care that they need.

Morbidly obese individuals who find it difficult or impossible to lose a significant amount of weight through diet, exercise or diet pills may need financing to be able to afford bariatric surgery and improve their health. Financing allows a patient to make affordable monthly payments towards the cost of bariatric surgery.

1. Health Insurance

The first option you should consider for bariatric surgery financing is your health insurance. Insurance companies are now becoming more open to the idea that weight loss surgery may be able to save them money in the long run by preventing serious and costly medical problems in the future. Your bariatric surgeon can provide information on your medical history and highlight the potential benefits and long-term savings if your insurer agrees to cover the cost of your bariatric surgery.

2. Healthcare Financing

If you do not have health insurance or if your insurance provider will not agree to cover the cost of bariatric surgery, you still have a number of other options for bariatric surgery financing. Your surgeon can refer you to a healthcare financing company.

Manufacturers of medical devices may also offer a program for patient financing. The LAP-Band System and REALIZE Band both offer a patient financing program that links patients to lending companies and assists them in securing a loan to finance their weight loss surgery.

3. Secured Medical Loans

You may be able to obtain a secured medical loan from a local bank or credit union. For this type of financing, you will need a collateral (such as your home) to back up your loan. Be sure to compare the interest rate and terms of payment offered by different finance companies. Don’t forget that if you are unable to keep up with payments, the financial institution has the right to take ownership of your collateral.

4. Credit Cards and Direct Lenders

You can obtain unsecured loans from credit card companies and direct lenders without the need to put up any collateral. While many people will find this easier, keep in mind that you will be paying a higher interest rate over the term of your loan. Be mindful of interest rates and always make timely payments to avoid penalties or increase in interest rate.

Cost of Bariatric Weight Loss Surgery

The cost of bariatric surgery differs depending on the actual weight loss surgical procedure, choice of bariatric surgeon, type of medical facility, and geographical location. The average cost is about $25,000 but it can be as low as $17,000 or as high as $35,000. The cost of surgery usually includes surgeon fees, hospital fees, anesthesia, laboratory and x-ray fees, and miscellaneous fees. The high cost of bariatric surgery should not prevent patients from having the weight loss treatment they need. Doctors can refer patients to a number of healthcare financing companies that provide financing options for bariatric surgery.

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Weight Loss Surgery: How Much Does It Cost?

Weight loss surgery does not come cheap and can cost an average of $25,000. However, it is worth the money paid because this type of surgery can greatly improve the patient’s health and quality of life. Nevertheless, people would still want to know all they can about weight loss surgery costs in order to prepare their finances before the treatment takes place. Bariatric weight loss surgery typically costs $17,000 to $35,000 but the actual cost will depend on many factors and will differ from one patient to the next.

Ask for the Overall Price

In order to get a good idea of the cost of weight loss surgery, you have to talk to a bariatric surgeon and ask for the total cost of the procedure from start to finish. Your surgeon will let you know about the different bariatric surgery options available, and will recommend a procedure that is suited to your health and weight conditions. From there, the surgeon should be able to give you a good idea of how much it will cost to have a weight loss surgery.

Be sure to ask whether the quoted price includes consultations before the surgery and follow-up visits after the surgery. Bariatric programs differ, so it’s important to know what services are included in the quoted price.

You will also want to know what costs will be billed by the hospital, and what costs will be for the doctor’s office.

Paying for Weight Loss Surgery

Once you have a good idea of the cost of weight loss surgery, the next step is to determine whether your health insurance company will cover the procedure. Some insurance companies do not cover bariatric surgery, or if they do, the amount of coverage may differ from one company to another.

If the cost of weight loss surgery is not covered by your health insurance in part or in full, you can inquire if the doctor’s office or hospital is willing to accept monthly installments. Most medical facilities require payment upfront, but it won’t hurt to ask. The doctor’s office may be able to put you in touch with patient financing companies where you can get a medical loan to finance your weight loss surgery.

Insurance Coverage of Weight Loss Surgery

Your health insurance provider may agree to cover the cost of bariatric surgery if your doctor is able to establish that the procedure is a medical necessity and if you meet the requirements set by the National Institute of Health, which recommends weight loss surgery for individuals with a body mass index (BMI) higher than 40.

Cases of chronic morbid obesity (BMI above 40) can be covered by insurance, as long as your doctor can certify to the insurance provider that the surgery is a medical necessity. Appropriate documentation is required, including records of your attempts to lose weight using conventional methods, which must be supervised by a doctor.

The insurance company may also be more willing to cover the cost of weight loss surgery if you suffer from obesity-related disorders like diabetes or cardiovascular disease.

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