CoverWell by Injectsure is pay-per-procedure aesthetic protection plan designed to protect against the risks of common cosmetic and wellness procedures not covered by health, general liability and malpractice insurance.
Log in to view the full article
CoverWell by Injectsure is pay-per-procedure aesthetic protection plan designed to protect against the risks of common cosmetic and wellness procedures not covered by health, general liability and malpractice insurance.
A CoverWell policy adds a nominal amount (7% on average) to the cost of treatment. Clients receive insurance coverage for a full 30 days following their procedure, which provides up to $125,000 in corrective care in the event of medical complications. CoverWell policies are paid for at the time of service, and the client and business become co-insured, with no added cost to the business. Lawsuits are eliminated through the insurer and insured electing the CoverWell policy in its place.
“The little-discussed reality is that if something goes wrong or there is a bad reaction from a procedure, there has always only been one option for remediation -- sue the establishment for malpractice,” said Kimberly DeOrsey, president of CoverWell. “(They) wait on average 24 months for the suit to be tried and settled, most often resulting in pain and suffering to the client, a lost customer and a serious chance of reputational damage to the business.”
A client’s personal health insurance will not cover elective procedures or any unexpected complications, which can make dealing with the fallout from said complications overly tedious and difficult. Malpractice/professional liability insurance typically does not cover post-procedure complications unless the injured client hires a lawyer and sues the medspa, salon or practitioner. With CoverWell, the client, the business and the practitioner are covered.
Potential complications from medical procedures include blood loss, infection, scarring and nerve and organ damage. Hematoma is the most common medical complication during an aesthetic procedure, according to Healthline. A hematoma is a pocket of blood that resembles a large, painful bruise. It occurs in 1% of breast augmentation procedures and is the most common complication after a facelift, occurring in an average of 1% of patients.
CoverWell was developed more than eight years ago by Patrick Tighe, a personal injury attorney, and Daniel Kapp, M.D., a board-certified plastic surgeon. Tighe’s wife experienced serious complications after multiple aesthetic procedures, which inspired the duo to develop a better and more affordable solution for consumers and businesses alike. Tighe and Dr. Kapp forged partnerships with insurance providers to create a warranty-type product so patients could access medical benefits within days of experiencing a complication.
CoverWell is backed by Universal Casualty and Inter Insurance Agency Services, Ltd. in all 50 states. The company recently announced a partnership with PatientNow to incorporate the insurance policy within the software. PatientNow will feature an electronic opt-in choice to activate CoverWell protection on its platform.
“CoverWell is marketed as a preferred vendor to PatientNow’s over 2,000 client spas and aesthetic centers,” DeOrsey said. “This partnership puts CoverWell in league with some of the best EMR (electronic medical record) software systems and includes built in marketing outreach.”
