The continued growth of the ambulatory (outpatient) care
market is driven by a number of emergent factors. The increase in life spans
have incubated a prevalence of diseases such as diabetes and COPD (chronic
obstructive pulmonary disease) among an increasingly elderly population of
retiring Baby Boomers. Insurance carriers are now authorizing payments for more
services that that result in more affordable convenience and logistical
efficacy of home-based recuperation for these patients, with cost savings of up
to 65 percent for minimally invasive procedures when performed at home or in an
ambulatory care center. However, it is extremely difficult for already
overburdened families to successfully arrange and utilize a comprehensive suite
of services, such as home-based infusions, access to durable medical equipment
(DME), and the benefits of a comprehensive prescription drug program
administrated by a pharmacy benefit manager, by a single healthcare provider
(PBM).
MIT Holding Inc. (OTC: MITD) has identified this niche and
filled it successfully. Moreover, all participants in the ambulatory care
market, whether patients, medical facilities or insurance carriers, benefit
directly from tight-knit relationships and the kind of well-oiled networking
machinery that MIT Holding offers its patients.
This is particularly important as the industry continues
rapidly transitioning from Meaningful Use Stage 1 requirements to the much more
complex criteria of Stage 2, where robust clinical reporting that is in-line
with regulatory and quality-driven initiatives, as well as coordinated care and
patient engagement, are paramount. When it comes to Medicare and Medicaid EHR
(electronic health record) Incentive Program participation, healthcare
information technology (HCIT) continues to open new doors for the ambulatory
care market, and this segment of the overall healthcare market stands to
deliver optimum results when it comes to the prevailing value-based care
initiatives as well. Patient long-term outcomes and customer service are more
of a key focus in ambulatory care than in acute hospital care, and this is a
major driving factor of the industry’s continued shift toward ambulatory care.
Organized as a single source provider for a wide range of
services and products to patients through its network of affiliates and
contractors, MIT Holding is able to hit the sweet spot between cost effective
care and customer service. The company delivers intravenous infusions for home
and ambulatory care center injection via its full service compounding pharmacy,
as well as pharmaceuticals, medical equipment for the home, and other
home-based healthcare. The typical high cost of specialized infusion pharmacy
services can be substantially ameliorated through ambulatory care, and the kind
of customized education/counseling that is also required to get the patient
situated regarding their condition and the requisite treatments, is ideally
deliverable via the ambulatory care model (again in clear contrast with
hospital care).
Saving the patient time and money is also a highly lucrative
niche market for MIT Holding, as infusion medications typically require
preparation by highly specialized pharmacy operations employing registered
pharmacists, and the therapy itself is generally administered by a registered
nurse or trained caregiver that ideally has established a good, long-term
relationship with the patient.
A growing number of therapies are now deliverable in this
fashion as well, making in-home treatment increasingly attractive to patients,
and the option of going to a contracted ambulatory care center (the company
operates one itself), staffed with full-time nurses and a doctor, in order to
receive improved consultation, or assistance in obtaining reimbursement, is
seen as a huge advantage to many patients and their families.
This is a big, growing market for MIT Holding, spanning such
infusion therapies as total parenteral nutrition for chronic digestive and
gastro-intestinal disorders, anti-ineffective therapies for diseases like
chronic urinary tract infections, chronic pain management through intravenous
or continuous analgesics, and a variety of others. In this same vein, the
company’s DME sales and leasing capabilities, with access to a host of devices
ranging from wheelchairs and oxygen concentrators, to nebulizers and other
sustained-use equipment, provides MIT Holding with a constantly growing amount
of Medicaid billing.
The expansion last year of the DME contract by WellPoint’s
(NYSE: WLP) Georgia subsidiary, Amerigroup Community Care, to cover all of MIT
Holding’s services (including ambulatory, infusion and perinatal), is a prime
example of the company’s continually growing post-acute network footprint.
Similarly, two contracts awarded more recently by HCIT and post-acute treatment
patient transition innovator Curaspan Health Group, which maintains an
impressive 98 percent customer retention rate, gave the company real-time
access to market its compound pharmaceuticals, infusion services and DME
offerings to the patients of over 5,400 Curaspan driven medical facilities
nationwide.
The company’s deal with Coastal Carolina Medical Center is
another good example here, in that the in-patient treatments MIT Holding was
initially engaged to do dovetail exceptionally well with subsequent, more
expansive ambulatory care service provisions, generating billing in the $1,000
per treatment range for the company.
With current approval by more than 130 insurance carriers
for a variety of medical goods and services, as well as a much more focused core
of operations specifically in the home health recovery space, MIT Holding has
seriously tightened up its cost and revenue structure subsequent to its
reorganization that began in 2011, and currently enjoys a 32 percent net profit
standard on sales, services, and the like moving forward. Estimates of up to 90
percent savings for patients who utilize in-home infusion services will
continue to be a major contributor to the company’s success, and with the U.S.
home infusion market on track to grow 68 percent over the next five years to
around $26.7 billion, MIT Holding will be looking to carve an ever-increasing
slice of that pie off for its shareholders in years to come.
A continued focus on providing affordable, customer
service-driven delivery of high-cost, low volume specialty infusions spells big
profit for MIT Holding, and the requisite handling/administration requirements
associated with such infusions will help the company maintain a firm grasp on
the underlying market’s dynamics. And because MIT Holding handles all its own
billing and collection practices via a sophisticated computerized billing
framework, obtaining the lion’s share of its revenues from contracts with third
party payers, affiliates and contractors, as well as self-pay patients and self-insured
employers, the company has unprecedented fluidity when it comes to the claim
review and editing process, as well as granular pre-service initiation control
driven by rigorous insurance coverage verification and carrier authorization
protocols.
For more information visit http://mitholdinginc.com/
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