Boston Scientific announces the signing of two strategic agreements to advance the company's efforts to bring value based solutions aimed at improving outcomes and reducing the cost of cardiovascular care delivery to healthcare systems.
As part of an agreement with MedAxiom, a leading cardiovascular consulting company and nationally recognized community of progressive cardiovascular healthcare providers, Boston Scientific will offer programs to help improve the way care is delivered to patients suffering from cardiovascular conditions including heart failure, atrial fibrillation, structural heart and ischemic heart disease.
These programs will assist hospitals and ambulatory care sites in developing and implementing comprehensive clinical and operational strategies to drive efficiencies across the care continuum, from diagnosis to treatment and ongoing care.
This agreement brings together Boston Scientific’s strong expertise in lean practices, process improvement and supply chain optimization with MedAxiom’s deep experience in cardiovascular program leadership.
Additionally, Boston Scientific has signed an agreement with TogetherMD, a leading provider of healthcare data analytics software, to explore the integration of TogetherMD technology into the Boston Scientific cardiovascular portfolio and offer providers with access to actionable data in support of operational improvement and cost reduction initiatives.
This includes robust industry benchmarking data and analysis of ongoing operational and financial performance, and billing and coding accuracy. TogetherMD has reported improved reimbursement and average service line cost savings of approximately $1.5m from the introduction of similar initiatives in single hospital sites. Boston Scientific will evaluate the use of this information technology platform across its businesses and regions.
"We are focused on addressing the many challenges healthcare systems are facing, and expanding our offerings to solutions that leverage our organizational competencies and complement our differentiated technology platforms," said Mike Mahoney, president and chief executive officer, Boston Scientific.
Boston Scientific will bring these and other comprehensive solutions to healthcare systems through its recently launched ADVANTICS solutions brand that emphasizes collaboration to meet unique customer needs. ADVANTICS programs include performance optimization, capital financing, care pathway transformation and patient management.