Today Business Day with Terry Bradshaw features inVentiv Medical Management. Their company presents integrated service resolutions to the healthcare business with by highlighting on accountability. Be sure to view the feature below to learn how inventive Medical Management is helping to improve the quality of healthcare through expertise and technology.
Terry: In the ever-changing world of business, new opportunities and challenges are created every day. In order to compete, corporations both small and large are continuously striving to stay ahead of the game. I’m Terry Bradshaw. From emerging technologies, to healthcare developments, to environmental solutions, join me as we take a closer look at the topics impacting today’s global economy. Welcome to Business Day.
The United States is experiencing a more dynamic shift in healthcare delivery and costs than ever before. According to Milliman Employee Benefits Consulting, the annual cost of healthcare has more than doubled in nine years to $19,000 for a family of four. Healthcare providers are searching for innovative ways to proactively battle the increasing cost and decreasing quality of healthcare. They are looking for someone to step up and be inventive. Every day more and more employers and other healthcare providers are partnering with independent medical management firms, like inVentiv Medical Management, to save stakeholders’ money and improve patient outcomes. Let’s understand why.
Marc: inVentiv Medical Management was founded 20 years ago by a group of physicians who were interested in looking at claims through surveillance. Trying to identify excessive coverages, appropriateness, medically and if the coding was correct. We did it on a system called Advanced Warning And Containment or AWAC, and it was that combined with the forensic rigor that was unique at that time.
Terry: Twenty years of healthcare surveillance has given inVentiv Medical Management unique insight into trends and the ability to develop innovative solutions.
Marc: Now healthcare has doubled in nine years. It’s almost 40 cents of every dollar earned. So we believe we have to get farther in front of the process. We have done this through a mission that looks at getting the best outcomes by providing the most appropriate care at the most appropriate price. The earlier we can be involved, the more we can save money.
Terry: AWAC is the technology foundation of all the inVentiv Medical Management intervention programs. This powerful cost containment solution fuels best in class surveillance, forensic, and informatics. This advanced information technology system cross matches member claims and care based algorithms to uncover current trends and predict future healthcare utilization.
Rayvelle: The physicians and clinical team here at inVentiv Medical Management are able to impact care by being the defacto medical team for the health plan. By prospectively reviewing clinical services, treatments, and procedures before they happen, we’re able to positively impact patient’s outcome both financially and clinically. We have a multi-subspecialty disciplinary team that consists of physicians, case managers, social workers, and licensed dieticians. By working and collaborating together, we’re able to not only save the plan money but also ensure that appropriate evidence-based medical care is delivered to the patient.
Jason: We developed a comprehensive product portfolio that we have termed the Accountable Care Solutions. The goal of the Accountable Care Solutions is to ensure appropriate and cost effective care for the most costly and complex of medical conditions. Our in-house team of physicians and nurses evaluate care against the most current evidence-based information to ensure a quality and cost effectiveness of care.
Terry: inVentiv Medical Management has saved millions of dollars and touched millions of lives. inVentiv Medical Management is focused on providing best outcomes for the patient. With logical pricing through collaboration with treating physicians for the most appropriate care, this organization is committed to developing new products that ensure care quality while managing the rising costs of care.
Marc: Well, more and more Americans are being insured with the passing of the Healthcare Reform Act, so we know we have to be involved to help. And we think the way to do that is to be absolutely committed to being as far in front of the situation as possible and looking at it over a continuum of care. That’s why our new Accountable Care Solutions. That’s why the commitment to the mission.