Although insurance companies generally don't pay for stem cell treatments, they may pay for a doctor's visit and other associated costs incurred during the procedure. These stem cell procedures are not currently covered by insurance. This is likely to change over the next few years due to the surprising amount of increasing evidence of its effectiveness. Until then, these procedures are paid as out-of-pocket costs or through medical loan companies that have optimized financing.
Many loan companies will finance the medical procedure for many years to reduce the burden on patients, which will facilitate the availability of expensive procedures. We currently work with Parasail loans to finance many of our patients' procedures. When a patient has a medical condition, one of the most common concerns is the potential average cost of treating the condition. Stem cell therapy has made tremendous strides in recent years, offering relief to people suffering from shoulder arthritis, rotator cuff tears and other joint-related injuries without the risks of surgery.
However, stem cell therapy still qualifies as an experimental medical procedure, so health insurance companies do not cover it. Medicare Part B covers outpatient procedures, including some cases of stem cell therapy. Some forms of stem cell treatment have even been approved. Stem cell therapies, such as those for leukemia, are already approved by the FDA and are covered by most health insurance companies.
Many clinical trials are underway to explore the effectiveness of stem cell therapies, with varying results. Stem cell therapy provides relief that can last for years and can provide permanent repair in some soft tissue injuries. While there is still no strong evidence that stem cell clinics will increase their rates as a result of lawsuits, that is a typical response in industries whose products or services are perceived by the public as high risk. So, while most U.S.
citizens may not have the luxury of applying stem cell therapies to their particular problem, the number of insurance policies accepting these new treatments is steadily increasing. To comply with FDA standards, the procedure I underwent was an autologous (“self-derived) procedure minimally manipulated on the same day with bone marrow-derived stem cells. Neil Riordan, the Stem Cell Institute of Panama, is one of the most trusted stem cell therapy centers in the world. Therefore, clinics specializing in stem cell therapies are technically authorized to operate in the United States, albeit without FDA approval for their treatments.
FDA limits types of stem cell treatments that can be completed in the United States, GIOSTAR also operates several clinics in Mexico, an increasingly common country for medical tourism. There is enough interest in the United States and around the world that stem cell providers continue to offer a wide range of treatments. Like most doctor's offices, stem cell treatments will require additional testing to reveal merits and risks. Many argue that because stem cell treatments are approved in other developed countries, the United States should try to replicate those processes here and end the lengthy FDA approval process or be left behind by massive discoveries in the coming years.
This therapy is used to treat blood-related cancers and other blood conditions, such as sickle cell disease. Because there has been a rapid increase in the number of medical providers offering stem cell treatments in recent years, the safety and quality of stem cell procedures can vary dramatically. Evidence suggests that stem cell therapy may be effective in treating several types of orthopedic conditions. While this high volume of publications and trials is promising, the costs of R%26D contribute to the total cost of stem cell therapy.