ATLANTA--(BUSINESS WIRE)--May 15, 2013--IPG, the industry leading provider of Device Benefit Management™ (DBM) solutions, announced today the launch of a solution that will drastically transform healthcare through cost transparency. Built on the intelligence and expertise from IPG’s proven DBM model and patent-pending innovative technology and device algorithms, the new specialized IPG PathFinder 360™ analytic toolkit and consultative solution delivers never before seen transparency in creating informed consumers and improving quality and cost of healthcare for surgical procedures.
The implantable device market is one of the fastest growing segments of medical expense with annual spend in the United States of over 125 Billion, and growing at a 6.6% rate. IPG PathFinder 360™ has the ability to identify where that spend is coming from and provide actionable intelligence to impact that spend. The attractiveness of the analytics toolkit lies in the ability to quickly and easily evaluate implant procedure cost and reimbursement compared with never before available regional and national industry benchmarks through the IPG Implant Index™.
“The IPG PathFinder 360™ platform and consultation has enabled us to understand the cost and practice variations around implant spend and has given us actionable information that we can share with our stakeholders to make informed decisions,” said Brian Holt, Senior Director, Provider Reimbursement Innovation of Blue Cross & Blue Shield of North Carolina, “This helps us drive standards around utilization, costs, and quality to drive more affordable care for our consumers.” for a product demo or to request one of our customer case studies demonstrating our proven model with results. IPG PathFinder 360™ requires a batch claims data feed and is built on a software-as-a-service (SaaS) platform. It does not require any systems re-engineering or operational changes to adjudication or other cores systems. The platform provides interactive, drill-down access to deep actionable intelligence with reporting, benchmarking and consulting deliverables.
According to Jay Ethridge, President and CEO of IPG, “With IPG PathFinder 360™, we have taken all of the intelligence and experience from our proven implant management model and built out those deep and transparent analytics to create an interactive solution that establishes much needed industry benchmarks for our partners to evaluate and reward effective cost and quality care for the consumer. It’s transparent, collaborative and effective.” IPG PathFinder 360™ leverages big data to understand the cost and practice variations around implant spend to manage risk and deliver actionable information to their stakeholders, while establishing collaborations among the parties that are delivering healthcare. IPG assists Health Plans in developing, implementing and monitoring reimbursement and collaborative programs around implantable device procedures that uniquely fit within their objectives around providing the highest quality of care at the appropriate cost: A revolutionary high impact, low resource solution addressing all healthcare provider markets Never before seen transparency, insight and depth of analytics into the drivers of medical expenses Unique, market-leading cost and reimbursement intelligence and industry benchmarks Cost reduction strategies to impact entire implantable procedure book of business Easily incorporated into Health Information Exchange, Pay for Performance and Accountable Care (ACO) initiatives IPG will be demonstrating their product at the America’s Health Insurance Plans (AHIP) Institute 2013 at the Wynn Las Vegas|Encore in Las Vegas, Nevada from June 12-14th. They can be located at the Booth Number 257. Watch the company speak to the new product with validation from their Blue Cross and Blue Shield of North Carolina and Charlotte Surgery partners on Fox Business Network Saturday, May 18th at 4:30 p.m. EDT and on CNBC and Bloomberg on May 19th and 29th.
As the Device Benefit Management (DBM) leader, IPG provides transparent end-to-end implant management and predictive analytical solutions, establishing the industry standard around cost, quality and safety to drive accessibility and affordability of care. The company has pioneered a unique DBM model which streamlines the management and delivery of implantable devices by working directly with health plans, clinical providers, facilities and medical device manufacturers. IPG delivers implant intelligence surrounding the overall cost and quality of healthcare being delivered, adding transparency and predictability of spend in tandem with the implementation of quality and safety metrics necessary to drive and reward best practices. Through collaborative partnerships that drive physician alignment, and employer and patient satisfaction, this approach ensures that patients receive increased access to affordable and innovative life-saving and life-enhancing device-intensive medical therapies. For more information about IPG, call us at 1-866-753-0046, or visit us on the web at www.ipg.com.