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The aesthetic industry has witnessed remarkable growth over the past few years. With advancements in technology, expanding consumer interest, and an increasing demand for minimally invasive treatments, aesthetic practices have flourished across the country. According to Statista, the global medical aesthetics market is projected to reach nearly $46 billion by 2026. As new treatments continue to evolve, aesthetic practices are seizing innovative ways to diversify their offerings—and one of the most notable is the integration of GLP1s (Glucagon-like Peptide-1) and IV therapy.
The Origin of CoverWell: A Personal Journey
CoverWell was born out of the deeply personal experiences of its founders, Pat and Sarah Tighe, who have both faced unexpected challenges in the aesthetic treatment world. Sarah had undergone what she thought were routine aesthetic procedures, including treatments involving permanent makeup. Unfortunately, things didn’t go as planned. She experienced adverse reactions that required her to seek out a plastic surgeon in order to reverse the unwanted outcomes.
Pat’s experience was even more harrowing. After being prescribed semaglutide (a GLP1 medication), he unknowingly had Diverticulitis—a condition that can cause inflammation and infection in the intestines. The medication triggered a severe reaction, leading to a burst intestine that hospitalized him for over a week. This frightening near-death experience highlighted just how critical it is to understand a patient’s complete health history before administering certain treatments. For Pat and Sarah, this experience made it clear that the risks associated with these treatments needed to be better managed and mitigated.
Pat and Sarah, while seeking ways to address and manage the complications, realized that many patients and practices were not fully equipped to handle such outcomes. The unexpected nature of both Pat and Sarah’s reactions made them acutely aware of how unpredictable treatments can be, especially when patients are not fully aware of their own underlying health conditions. This gap in preparedness and safety spurred their passion for creating a solution that would protect both practices and patients from unforeseen risks.
With this mission in mind, CoverWell was created to provide a safety net, ensuring that aesthetic practices could offer non-invasive aesthetic treatments, including GLP1s and IV therapy, without the fear of liability from adverse outcomes. CoverWell aims to safeguard both sides of the treatment equation, giving practice owners peace of mind and patients the confidence that their well-being is prioritized.
By leveraging Pat’s experience and expertise as a personal injury attorney, Pat and Sarah have made it CoverWell’s mission to help other practices proactively mitigate risk and ensure that they—and their patients—are always protected.
Expanding Revenue Streams with GLP1s and IV Therapy
In recent years, practices across the medical aesthetic landscape have begun offering GLP1s for weight loss and IV therapy for wellness as additional revenue streams. GLP1s have garnered attention for their significant role in aiding weight loss, particularly for patients with obesity or related health issues, while IV therapy offers wellness benefits such as hydration, nutrient replenishment, and detoxification.
Offering these treatments not only helps expand a practice’s services but also aligns with growing consumer demand for treatments that promote overall wellness and enhance appearance from the inside out. However, with this growth comes the responsibility of protecting both the practice and patients, ensuring that any health risks are properly mitigated.
If you’re interested in exploring GLP1s or IV therapies, the CoverWell team has partnerships with five-star providers that we can connect you with for seamless integration into your practice.
The Importance of Proactively Safeguarding Treatments
While the potential revenue boost from GLP1s and IV therapy is undeniable, these treatments come with risks—especially since practitioners often don’t fully know the pre-existing health conditions or past treatments of their patients. For example, some patients may not fully disclose certain underlying health conditions, medications, or previous treatments they’ve undergone, which could complicate the effectiveness or safety of these services.
As a result, it’s critical that practice owners take proactive steps to safeguard both their practice and their patients. Having protections in place that address potential complications can significantly reduce the risk of liability while enhancing patient trust. It’s not just about treating patients; it’s about ensuring they receive safe, effective care every step of the way.
Enter CoverWell: Mitigating Risk for Your Practice
CoverWell provides practice owners with peace of mind by offering coverage that protects against complications that may arise from aesthetic treatments. Whether it’s an unexpected adverse reaction or complications from treatments such as GLP1s and IV therapy, CoverWell ensures that practices are protected from the risks that could otherwise disrupt their operations or harm their patients.
By proactively activating CoverWell’s protection plan, practices can focus on delivering excellent care without worrying about the “what ifs” of medical complications. CoverWell is committed to helping practice owners mitigate risk while maintaining a high standard of care, ensuring the best outcomes for patients and protecting the long-term success of their businesses.
Why You Should Be Proactive Now
With the medical aesthetic industry on a steady growth trajectory, the opportunities for practices to expand their revenue streams are plentiful. However, as with any medical service, the inherent risks should not be overlooked. Whether you’re introducing new services like GLP1s and IV therapy or continuing with your existing treatments, safeguarding your practice is essential to maintaining long-term success and patient satisfaction.
CoverWell is a Pay-Per-Procedure model, providing protection for aesthetic treatments in the event of an adverse reaction. This includes 30-day coverage up to $125,000 per procedure at only 4% of the treatment cost, which is pass-through expense to the patient, that is charged alongside their treatment cost.
The relationships between CoverWell and the best in class GLP1 and IV Therapy providers also offer comprehensive solutions for practice owners. You can confidently offer the latest treatments, like GLP1s, knowing that your practice is protected, and you have the logistical support to ensure a smooth integration.
By being proactive now, you not only protect your practice from unforeseen risks but also create an environment where patients feel safe and supported—ultimately leading to greater trust and loyalty.
Let CoverWell help you navigate this new landscape, so you can focus on what you do best—providing exceptional care that helps patients look and feel their best.
To activate CoverWell, or to learn more about how you can take advantage of seamlessly integrating GLP1s into your practice, click the link below to schedule a call with their team!
