BLIS Offers Health Coverage Through 'A' Rated Insurance
BLIS announced a leap forward in its business through its ability to offer 'A' rated security on its policies for bariatric surgeons' cash pay business. Beginning July 1st, 2008, the BLISCare(SM) insurance policy will be available in most states through United Specialty Insurance Company, (USIC), which is rated 'A' by A.M. Best.
BLISCare is the first and only insurance product which provides insurance coverage to bariatric surgeons covering the cost of complication related medical care. BLIS was founded with the support of the American Society for Metabolic & Bariatric Surgery, which has endorsed BLISCare. It is estimated that 30% of the bariatric procedures performed in the U.S., (205,000 total cases according to the ASMBS for 2007) are cash pay.
Financial burdens faced by patients who have no choice but to pay cash in order to gain access to bariatric (weight loss) surgery is the focus of BLISCare. Prior to BLIS the cash pay patient was entirely at risk for all the costs of complication related medical care.
The BLIS surgeon is able to make a commitment to cash pay patients that, should a covered surgical complication arise, the patient will have access to the additional medical care needed to treat the complication at no additional cost to the patient up to the limits of the coverage provided. The ability to offer patients this safety net of protection is unique to BLIS surgeons and can play an important role in growing the cash pay portion of their practice.
BLIS has developed unique and exclusive data concerning the frequency and cost of caring for bariatric surgical complications. This data supports the BLIS underwriting process, which is highly selective. Only the highest quality bariatric surgeons are eligible to become a BLIS surgeon. Since their first case in December of 2006, BLIS has provided protection on over 750 bariatric cases and has paid on behalf of BLIS surgeons over $2,400,000 in medical bills that would otherwise have been the responsibility of the individual patient.
"This agreement will allow BLIS to continue to grow and support bariatric surgeons with the financial protection they need in order to protect those who need it most -- the cash paying patient risking it all to gain access to life saving bariatric surgery," said Regi Schindler, President and CEO of BLIS, Inc. "Our mission is to improve access to weight loss surgery. The financial strength and security of United Specialty Insurance Company will help BLIS to deliver its proven solution across the entire bariatric market thus ensuring surgeons throughout the U.S. are able to offer patients the access they need."