Future Family, the startup offering more affordable plans for fertility services like IVF and egg freezing, is switching its model from small loans for these services to subscriptions.
Fertility treatments are out of reach for most middle-income people in the U.S. The typical costs range from $12,000 to $20,000 for IVF, plus another few thousand for the genetic testing involved to ensure the fetus is chromosomally normal. To help, Future Family started out offering monthly payment plans for these services. However, after hearing from customers, the company has decided to switch to a subscription plan where customers can choose from several offerings and tailor a package that fits their needs.
You might be wondering what the difference is: Either you get a loan for the services you want or you sign up to pay a certain amount as a subscription for x many months for the services you want. Either way, you get the services you want with an affordable way to pay for them.
What’s new is the ability to pick the services you want, both upfront and and as you go. So, for example, if you go through egg retrieval and later realize you want to add genetic testing, you can now fold that option into your subscription plan.
“We have now moved from a financing product with concierge, to a full subscription model that offers the flexibility of other consumer subscriptions,” a spokesperson for the company told TechCrunch. “Contrast this with other financing products that have no flexibility and no customization, and do not even include services like genetic testing.”
Future Family was co-founded by former Solar City executive Claire Tomkins after she went through six rounds of IVF and spent more than $100,000 to finally get her baby, so Tomkins had some understanding of what someone might go through and how much they could rack up before seeing results.
In the past year, the company has also added male fertility testing and expanded it’s ‘Touchpoint’ fertility program to include more than 200 clinics, and it has doubled its user base in the last six months. While we don’t have firm numbers on just how many have used the company’s services, it did tell TechCrunch it has helped “tens of thousands of women, men, and couples in all 50 states.”
Subscription packages last over the course of five years and start at $150 per month for egg freezing. What you’ll get with that beginner plan is the procedure itself plus concierge care, fertility planning, clinic matching and on-boarding to the company’s digital health platform. You can see other plans for IVF on the site here.
“Subscription fertility is stress-free fertility. We want to transform people’s fertility experiences from what is currently a costly, isolating and confusing experience, to one that is affordable, easy to navigate, and supported at every step of the journey,” Tomkins said.
https://ift.tt/eA8V8J Fertility startup Future Family switches to a subscription platform https://ift.tt/2MQJnrQ
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