March 10, 2021
Stem cell therapies are a dynamic and fast moving, growing area of medical practice. Stem cells modulate disease and help regenerate the body, and are a hot topic in regenerative medicine with a lot of interest using them in various therapies.
The only stem cell therapies with FDA approval are for treating bone marrow cancers and specific blood disorders. Other therapies do not have FDA approval as clinical trials take a long time and a lot of money to complete. There are currently more than 6000 clinical trials going on in the US with a lot of promising data emerging across a broad range of indications.
While there have been no court cases for malpractice, underwriters need to be aware of the differences between different regenerative therapies. There is a lot of confusion with the interchange of terms between platelet rich plasma and stem cell therapy. They are not interchangeable terms, but completely different regenerative therapies.
Stem cells cannot be administered by just anyone. It has to be a physician with the qualifications to work with live biological tissues.
Underwriting policies for clinics and practices working with stem cells is a minefield that takes a great deal of careful research to mitigate the risks.
Read the full article here.
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