IPG, the industry-leading provider of Device Benefit Management solutions, today announced a partnership with NEXGEN OsteoBiologics, a medical biologics marketplace with a national distribution network. The agreement, effective October 1 will help provide cost-efficient biologics to partnering health plans, providers and members.
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Currently procedures utilizing osteobiologics materials (sports medicine, spine, dermatology, and breast reconstruction, among others) are on the rise, as are the related costs. These cost increases are partially driven by the increasing complexity of these materials, where lack of transparency often creates highly variable and unjustified pricing across the board.
“NEXGEN is excited to partner with IPG. As the nation’s leading Device Benefit Management firm dedicated to improving quality of care while lowering the overall cost of care, IPG was the ideal partner for NEXGEN,” said Steve Carbonara, Co-Founder of NEXGEN. “Working with healthcare facilities, health plans, and providers, we can remove a tremendous amount of cost in the healthcare supply chain while automating much of the process.”
IPG partners with all of the major national and regional health plans across the country to bring transparency and high quality, cost efficient care to their members. As a participating manufacturer in IPG’s Device Benefit Management program, NEXGEN will serve as a direct vendor to IPG’s partnering providers. The relationship between IPG and NEXGEN will allow IPG to manage all aspects of the device acquisition process including purchasing, billing, provider education, manufacturer account management/negotiation etc. which relieves the cash outlay burden among IPG’s facility customers and streamlines the overall facility process therefore saving money and increasing facility profitability.
“IPG continues to partner with innovative companies like NEXGEN that increase value to clinicians and patients while containing escalating healthcare costs,” said Brian Holt, Chief Innovation Officer for IPG. “Relationships like this allow us to actively participate with our health plan partners to truly deliver value-based healthcare to their members.”
“We are unique in that our solutions help align health plans, providers, facilities, members and manufacturers in the delivery of high quality and cost efficient care. We are proud of the network we’ve built together to deliver on our mission,” said Vince Coppola, President & CEO of IPG.
About NEXGEN OsteoBiologics
NEXGEN is a Tissue Bank Intermediary that distributes a full portfolio of biologic products nationally, from Allograft to Synthetics, acting as a one stop shop to clients and partners while delivering state of the art products from human tissue processors and synthetic manufacturers. Through our proprietary 5 Pillars of Biologic Fingerprinting methodology, NEXGEN is providing transparency and removing ambiguity in the purchasing process. NEXGEN provides ‘spend efficiency consulting services’ for healthcare facilities, health plans and providers, locating areas that can be immediately impacted, reducing costs by 15-30% on total annual spend. This Spend Efficiency Product Analysis System (SEPAS) is provided to any facility for free prior to any contracting to ensure proper alignment and expectations for NEXGEN and their client and partners. For more information about NEXGEN, please visit our website at www.NEXGENosteobiologics.com or call us at 844-639-4363.
As the Device Benefit Management leader, IPG delivers a customized, data-driven approach to enable their health plan partners to manage their surgical and implant costs more effectively. Providing true end-to-end solutions for the healthcare industry, IPG serves as a strategic capability for health plans to manage cost and risk in a unique way that drives collaboration between the plan, their healthcare providers, manufacturers and physicians to ensure that patients receive increased access to affordable and innovative life-saving and life-enhancing device-intensive medical therapies. Additionally, IPG’s award-winning analytics platform for implantable procedures delivers transparency to impact the entire health care transaction process and all sites of care. Continued expansion of IPG’s surgical cost management platform will help health plans to deploy programs that will improve their ability to manage risk and deliver actionable information to everyone involved in a patient’s surgical procedure to drive lower costs and high-quality care for consumers. For more information about IPG, call us at 866.753.0046, or visit us on the web at www.ipg.com.
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Last updated on: 05/10/2016
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