As fertility treatment becomes more common, new technologies are springing up to help women navigate, and finance, the complicated and expensive procedure, News Radio 1200 WOAI reports.
New types of what are called FinTech, or Financial Technology, which are helping, for example, Millennials navigate the college loan maze, are now being engaged to help with the fertility process, everything from obtaining medical loans to helping women deal with the testing involved.
Dr. Matthew Retzloff, a fertility specialist at the Fertility Center of San Antonio, says a FinTech start up called 'Future Family' has become invaluable for many of his patients."Fertility therapy, including fertility preservation, has become a biggest area of concern as women have put off childbearing, and, for a variety of reasons, infertility has increased."
He says the FinTech products can help woman structure a financial plan for the frequently expensive process, as well as obtain loans, and also help with the scheduling, and testing which comes with the treatment.
"New cutting edge, high tech opportunities to include loans, financing, testing, and efficiency of the process," Dr. Retzloff said.
Dr. Retzloff says the products help women not only deal with fertility treatments, but also to engage in egg freezing, which enables women to conceive later in life.
With Millennials putting off marriage and babies until they have established a career, the fertility industry is booming. From a $9 billion industry today, it is expected to balloon to $20 billion in just three years.
Experts say the introduction of financial services specifically for fertility treatment is another indication that, with seven million patients in 2016, fertility treatment is a mainstream medical procedure.