Los Angeles-based MIT Holding has an
established working arrangement with one of the approximately 400 compounding
licensed pharmacies remaining in the United States. Currently, many big name
pharmaceutical companies are buying up these compounding pharmacies to
eliminate competition. However, MIT Holding has a contractual arrangement with
a well-respected and highly qualified compounding pharmacy that enables it to
fulfill its own infusion and other specialty prescriptions. This capability
provides MIT Holding with a distinct advantage over local “mom-and-pop”
infusion centers in the rapidly growing $11 billion a year U.S. infusion
therapy market.
The two most recognized names in the
infusion sector are CVS Health Corp. (NYSE: CVS) and Walgreen Co. (NYSE: WAG).
Both of which have established footprints into the home infusion market through
a series of strategic acquisitions that highlight the growing demand for home
infusion services.
CVS earlier this year completed its
acquisition of Coram LLC, the specialty infusion services and enteral nutrition
business unit of Apria Healthcare Group Inc., and in May entered into a
definitive agreement to acquire Omnicare (NYSE: OCR). The acquisition of
Omnicare is expected to greatly expand CVS’s specialty pharmacy business and
increase its ability to dispense prescriptions in assisted living and long-term
care facilities.
MIT Holding is also uniquely
positioned for opportunities in the prescription dispensary and in-home
infusion services markets. That is because MIT Holding’s business model is
built around the company’s full suite of in-home recovery services, which
begins when MIT Holding sends a company representative to a patient’s hospital
bed on the day of discharge to establish a blueprint for successful home recovery.
Following the initial contact, MIT
Holding will send a registered nurse (RN) directly to the patient’s home to
provide infusion therapies and consultation. The typical four-hour infusion
procedure allows the RN to establish a personal working rapport and customized
recovery regimen for the patient, while cross-marketing MIT Holding’s complete
suite of services. The RN offers a thorough analysis of the patient’s needs,
from medications, durable medical equipment, doctor appointments, therapy sessions,
insurance billing, insurance inquires, and a financial overview of the expected
expenses of the remaining recovery period.
With current MIT Holding patients,
this cross marketing approach is effective by including all other household
members. MIT Holding benefits with an immediate expansion of its patient base
by offering its services to meet the medical needs of these family members.
Results have shown that families and patients often realize valuable savings on
their medications, including the original infusion therapies.
MIT Holding’s new approach
establishes a digital databank of information on the patient’s recovery
regimen, which was created at the bedside of the patient at the point of
discharge. This creates a new revenue stream of vital records necessary for
doctors and hospitals to comply with new mandatory federal requirements,
documenting their patient’s recovery.
Through its innovative and
comprehensive in-home recovery services, which include specialty drugs,
infusion services, compounding pharmaceuticals, direct insurance inquiries,
insurance billing, and cross marketing efforts, MIT Holdings is in prime
position to take advantage of multi-billion dollar markets. Based on IMS Health
data, the specialty pharmaceuticals market is valued at $77.5 billion,
constituting roughly a quarter of the overall market and growing at more than
double (8.8%) the rate. Combined with the $11 billion home infusion market,
these sectors are rapidly approaching the $100 billion mark.
For more information visit
www.mitholding.com or contact William Nalley at 305-515-8077
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