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TMCNet:  IPG Speaks to TIME Special Report - Bitter Pill: Why Medical Bills Are Killing Us

[February 27, 2013]

IPG Speaks to TIME Special Report - Bitter Pill: Why Medical Bills Are Killing Us

ATLANTA --(Business Wire)--

IPG, the leading nationwide provider of implantable Device Benefit Management™ (DBM) solutions speaks to the special report in the new issue of TIME magazine, Bitter Pill: Why Medical B ills Are Killing Us. In the new issue, journalist Steven Brill explores the problem of rising medical bills, examining who is setting such high prices and pocketing the biggest profits.

The TIME Special Report brings critical transparency and awareness to why our healthcare costs in the United States continue to rise at an astronomical rate. IPG has deployed a proven specialty management model that has provided the industry with visibility to cost and quality standards associated with implant and surgical procedures, to ultimately drive appropriate procedures while improving safety standards.

"We are implementing programs that are proven to reduce medical costs. It's the only way to make health insurance affordable over the long term," said Jay Ethridge, President and CEO of IPG. "We are working collaboratively with health plans, physicians and healthcare providers to implement payment models that reward quality outcomes and hold down costs, giving employers and consumers more tools and information than ever to help them make smarter health care decisions."

In the TIME Special Report, a patient was charged $50,000 for a neurostimulator - "The big-ticket item for Steve H.'s day at Mercy was the Stimulator, and that's where most of Mercy's profit was collected durin his brief visit. The bill for that was $49,237." Using their proven implant management model and data driven intelligence, IPG addresses this problem directly. IPG is delivering similar benefits related to implants that Pharmacy Benefit Managers (Express Scripts, CVS Caremark, Catamaran) did in the pharmacy and specialty drug space. Working with their partners to drive medical policy and network construction, IPG are successfully removing excess cost out of the device related claims expense. With actuarially validated savings in excess of 20%, IPG have demonstrated significant value to their health plan partners, employers and healthcare providers to address these rising costs, subsequently providing patients access to more affordable and quality care. To view a copy of the full TIME Special Report, please visit http://healthland.time.com/2013/02/20/bitter-pill-why-medical-bills-are-killing-us/#ixzz2Lq3iyRlt.

Selected to speak on an upcoming segment to air on Fox News, CNBC and Bloomberg (News - Alert) on Device Management Solutions to Meet Today's Healthcare Challenges, IPG will speak about solutions to effectively drive costs out of the system and lower medical bills for consumers.

About IPG

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.


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