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Bariatric Surgery Financing – Four Options

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.

Bariatric Surgery Financing

Bariatric Surgery Financing Four Options

Bariatric Surgery Financing

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.

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.

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.

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 Exercise

Surgical Weight Loss: Options, Benefits and Risks

While regular exercise and a healthy diet is recognized as the ideal way to maintain a normal weight, there are some individuals for whom weight loss surgery or bariatric surgery is the only option remaining. People who are morbidly obese and have tried and failed to lose weight using conventional methods are turning to surgical weight loss as a solution. Bariatric surgery is recommended only for people with severe obesity; that is, with a body mass index above 40. Weight loss surgery is also offered to people with BMI between 35 and 40 if they also suffer from obesity-related health problems such as diabetes or sleep apnea.

Surgical Weight Loss Options

When diet, exercise or weight loss medications are not enough to reach and maintain a healthy weight, people who suffer from severe obesity can resort to a number of surgical options for weight loss:

* Gastric Bypass. A gastric bypass allows you to lose weight in two ways: first, by limiting the amount of food ingested and second, by reducing the amount of nutrients you absorb from your food. This is done by creating a smaller stomach pouch which is attached to the lower part of the small intestine. The smaller stomach holds less food so you feel full sooner. Also, fewer calories are absorbed because the food bypasses a portion of the stomach and small intestine.

* Lap Banding. This surgical weight loss procedure uses an adjustable band inserted in the stomach to give a feeling of fullness and limit the amount of food consumed. The lap band can be tailor-made for the patient. It is also adjustable after surgery so that you can eat more or less food as needed.

* Gastric sleeve. This type of stomach reduction surgery is one of the newer options for surgical weight loss. It makes the stomach smaller by removing up to 85% of the stomach, leaving only a narrow, banana-shaped tube. With a smaller stomach, you will feel full even with less food. This weight loss surgical procedure is safer compared to gastric bypass because it does not rearrange the digestive anatomy. It may also be safer than lap banding since no foreign objects are introduced into the digestive system.

Benefits

* Quick and effective weight loss. Most patients start to lose weight immediately following surgery. In general, patients lose weight rapidly within 6 months to one year. Weight loss often continues until two years after the surgical procedure., and few patients regain it.

* Improved health conditions. A number of studies found that weight loss surgery can return blood sugar levels to normal in patients with type 2 diabetes. There is also an improvement in obesity-related health conditions such as sleep apnea and high blood pressure.

* Psychosocial adjustment. As patients reach a more normal weight, their self-esteem and self-image also improve and they are better able to function in society.

Risks

* Side effects. Patients may experience vomiting, nausea, diarrhea, flatulence, and dizziness.

* Nutritional deficiencies. Surgical weight loss may be accompanied by nutritional deficiencies including anemia and osteoporosis.

* Complications. After weight loss surgery, some patients may suffer from complications such as abdominal hernias, infections, gallstones, or breakdown of the staple line used to make the stomach smaller.

* Lifestyle changes. Bariatric surgery often requires permanent lifestyle changes for significant and lasting weight loss.


Surgical Weight Loss: Options, Benefits and Risks

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Weight Loss Exercise

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.


4 Options for Bariatric Surgery Financing

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