While patients are certainly not paid to undergo weight loss surgery, the procedures nevertheless really can have long-term financial benefits both for insurance companies and individuals.
Los Angeles, CA (PRWEB) August 04, 2015
An article published July 27th by the Providence Journal detailed a recent study that found financial incentives to be a viable method for encouraging people to lose weight. Specifically the study compared control patients with those who were allowed to wager money on the future of their weight loss success, adding a financial incentive to the overall incentive of increased health. According to Michael Feiz, M.D., F.A.C.S., while patients are certainly not paid to undergo weight loss surgery, the procedures nevertheless really can have long-term financial benefits both for insurance companies and individuals.
- Costs for Insurance Companies – One of the reasons why insurance companies have become more and more willing to cover weight loss surgery for qualified candidates is that much, all, or far more than the cost of the procedure will be saved in the long term by not having to pay for many of the costly treatments for obesity related illnesses. Dr. Feiz notes that a 2012 estimate by the Society of Actuaries puts the total impact of obesity in the United States at nearly $300 billion each year. Although severely obese patients tend to have shorter lifespans than their slim counterparts, notes Dr. Feiz, the lifetime health care costs for obese individuals are still greater. Because insurance companies care greatly about their profitability in the long term, they are willing to foot the bill for the procedure knowing it will save them money down the line.
- Costs for Individuals – Dr. Feiz notes that, unless someone has absolutely stellar healthcare coverage, obese individuals often have to pay additional out of pocket costs for their day-to-day health care because of their increased health concerns. These costs, especially if a person’s health conditions require a lot of prescription drugs, can often add up. While health should always be the primary motivation for undergoing a life changing procedure like weight loss surgery, says Dr. Feiz, this added financial incentive can certainly be an added benefit that patients can appreciate in the future.
For countless patients, weight loss surgery with Dr. Feiz & Associates has been an outstanding tool that has allowed them to lose weight, and shed both the health conditions they were suffering from, and the costs associated with them. Of course, notes Dr. Feiz, no procedure is right for every patient, and seminars and consultations are necessary to help patients make the decision that is right for them. Anyone interested in learning more about weight loss surgery with Dr. Feiz can call Dr. Feiz & Associates today at 310-817-6911 or visit the medical office online at http://www.DrFeiz.com.