In 2011, Health Plans’ projected spend on implantable devices was more than $50 Billion in the United States, and as this number continues to rise, so does utilization. Over the past three years, implant and surgical costs have trended at a rate of 9% annually with no end in sight in the absence of targeted strategies to address this chronic issue. Changing reimbursement practices and lack of transparency over implantable device spend and utilization have contributed to ongoing cost increases for Health Plans and members.
Device Benefit Management (DBM) plays a critical role within the Specialty Benefit Management industry, similar to that of Pharmacy (PBM) and Radiology (RBM). As one of the fastest growing, unmanaged segments of the healthcare industry, DBM solutions for managing and controlling implantable device costs are critical. As a trusted partner, IPG targets the area that accounts for $125 Billion of the overall implant spend. The IPG Device Benefit Management™ model provides the management, device experience and supporting capabilities that demonstrate never before seen transparency and price stability to implantable devices. Through a combination of powerful logistical, analytical and consultative deliverables our solutions are proven to lower implant spend.
The IPG Device Benefit Management™ model continues to demonstrate savings of 20-30% to our Health Plan partners, delivering:
- Cost Management Solutions
- Reduced Implantable Device Spend
- Increased Transparency
- Demonstrated Value from Trend Predictability
- Provider Alignment
- Improved Episode of Care Metrics
- Optimal Site of Care
- Reduced Exposure to Fraud, Waste and Abuse
- Physician & Member Care
- High Levels of Customer Service to Providers and Physicians
- Physician Choice and Access to High Quality Implants
- Patient Focused and Cost Effective Care
- Minimal Market Disruption
- Expert Data & Management
- Powerful Analytics
- Ease of Administration for the Provider through the IPG myINSIGHT Portal
- Expert Management around the Complexities of Device Benefit Management
Implantable Device Benefit Management is an exciting and innovative addition to benefits management familiar to Health Plans but until now not previously available. Subsequently, it is essential for them to engage in innovative and proven methods to address the costs and complexities associated with high dollar implantable device procedures, and adding device benefit management bridges these gaps within their existing benefits solutions.
Learn more about the IPG Device Benefit Management™ solution for Health Plans.
“BCBSNC has enjoyed partnering with IPG in an effort to add transparency, management and predictability to our device spend. IPG has worked diligently to assist us in the development of enhanced reimbursement terms for ambulatory surgery centers as part of this initiative, and to aid our efforts to assure a seamless implementation process for our operations.”
Senior Strategic Contract Consultant, BCBSNC
At IPG, we are passionate about improving healthcare and helping Health Plans navigate and innovate the Implantable Device Benefit Management space now and in the future.