The Future of Fertility Financing: How Sunfish is changing the fertility industry to focus on successful pregnancies, not treatments
LOS ANGELES, Aug. 3, 2023 /PRNewswire/ -- One in six people today are affected by fertility hurdles, but aspiring parents are forced to take on tremendous financial burdens to afford treatments such as in-vitro fertilization (IVF). Sunfish, a one-year-old Los Angeles based technology company, is transforming the fertility industry: it announced today a new membership program which includes a custom financial plan for achieving pregnancy – and a guaranteed refund if the financial plan is inaccurate.
"We've seen people sell their engagement rings, move in with their parents, and liquidate their 401K in order to afford IVF," explains Angela Rastegar, CEO and Founder of Sunfish. "The fact that people could spend over $100,000 without any guarantee they'd go home with a baby drove us to change the equation for these aspiring parents." Sunfish announces today that it has launched a new year-long membership program, which includes a custom financial plan with IVF treatment package costs for each member. What's groundbreaking: this membership guarantees a refund of up to 90% of the treatment costs if the financial plan underestimates the costs to become pregnant. Sunfish also offers additional support to prepare patients beyond the doors of the fertility clinic (think tips on how to manage the anxiety of IVF, what to pack for your egg retrieval, nutritional guides, and more).
Many people require several IVF attempts to achieve pregnancy, making financial planning difficult. According to the Society for Assisted Reproductive Technology, the first cycle is successful for 36-45% of 37 to 39 year old patients, and jumps to 62%-73% by the third cycle. With the price of a single cycle of IVF ranging from $15,000 - $30,000, costs quickly add up. "This is a great option for anyone who is looking for peace of mind as they pursue IVF - Sunfish can help them reduce their financial stress with extra assurance," says Dr. Deirdre Conway, Reproductive Endocrinologist and Practice Director at Utah Fertility Center.
Using predictive analytics, thousands of historical data sets, and proprietary software, Sunfish aims to help patients better understand their unique chance of success and plan for the financial costs. "Patients undergoing IVF treatment are doing so to build families, and the most important element when selecting an IVF center is one that can provide excellent clinical care, financial support, and superior outcomes," says David Stern, CEO of Boston IVF. "Boston IVF is pleased to offer the innovative Sunfish program to reduce the financial burden for patients," he states.
Unlike a medical clinic which charges for each IVF attempt regardless of the result, Sunfish is 100% aligned with patients, who are trying to build a family. "Sunfish really is your partner in ensuring you can accurately financially plan for your pregnancy journey," says Rastegar. And this need for transformation in the industry is one other leaders have called for: "The fertility field evolves fastest when it responds to patient needs. Today, more than ever, hopeful parents want to pay for results, not retrievals," explains Jake Anderson-Bialis, Co-Founder of FertilityIQ.
Since launching last fall, Sunfish has received over $40 million in applications from individuals in 46 states seeking financial assistance with their reproductive journeys. Sunfish offers financial support for patients at dozens of medical clinics, pharmacies, egg banks, surrogacy agencies, and related services. "We are excited to be partnering with some of the most renowned providers across the country to help more people afford their parenthood journey," says Dev Sethi, Head of Product at Sunfish. In addition to the membership program, Sunfish offers access to financial planning tools, loans, and guidance. With a team of individuals with expertise in data science, consumer lending, fintech and healthtech, Sunfish is at the forefront of using technology to redefine how people afford to build families.
–
Sunfish's mission is to make parenthood attainable for all types of families. Please refer to the Sunfish Membership Program Agreement for the full set of the terms and conditions. Sunfish is not a registered financial planner or advisor, lender, insurer, medical or healthcare provider and does not provide medical advice.
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-future-of-fertility-financing-how-sunfish-is-changing-the-fertility-industry-to-focus-on-successful-pregnancies-not-treatments-301892256.html
SOURCE Sunfish Technologies, Inc
