CoverWell, a new provider of procedure protection plans, has entered the medical spa industry through a partnership with the American Med Spa Association (AmSpa), where it will serve as a Platinum Vendor Affiliate. This development introduces a new type of financial protection product to the aesthetic medicine market.

What is CoverWell?

CoverWell offers pay-per-procedure protection plans designed for medical spas and their patients. The company’s protection plans cover potential complications from minimally invasive aesthetic procedures, including:

Infections
Inflammation or swelling
Burns or abrasions
Filler migration
Hemorrhage, hematoma, or bruising
Post-operative neurologic injury

How the Protection Plan Works

According to AmSpa’s announcement, patients can opt to pay a percentage of their treatment cost at checkout to receive 30 days of coverage. This coverage includes up to $125,000 in medical expenses for adverse events.

The program operates with:

No startup costs
No contracts
No monthly fees
Availability in all 50 states
Pay-per-procedure model

Market Response

Early adopters have shared their experiences with the program.

“With the additional protection of Coverwell, our medical director and nurses can rest assured they can continue to offer the best medical esthetic treatments while having that extra protection to cover the unexpected,”

states Brian G., Executive Vice President of La Peau Spa.

Dr. Mario Yco, Owner of YCO Facial Plastic Surgery, adds,

“Coverwell brings a unique value for both our practice and patients. It gives us peace of mind and our patients really appreciate providing a benefit that means safety first and we care.”

Industry Context

This type of protection plan represents a new development in the medical spa industry. According to AmSpa’s press release, the partnership aims to help practices mitigate financial risks associated with complications while reducing the likelihood of refunds and chargebacks.

Additional Information

Medical spa professionals interested in learning more about these protection plans can find additional information through AmSpa’s member resources or by contacting CoverWell directly.

This article is based on information from CoverWell’s website and AmSpa’s partnership announcement.