DUBLIN and CHARLESTON, S.C. - February 14, 2019 - Medtronic plc (NYSE:MDT) and the Medical University of South Carolina (MUSC) today announced a five-year value-based health care partnership intended to transform and improve care for patients in South Carolina. The collaboration will focus on developing solutions that improve the health outcomes and care experiences for patients while also reducing costs.
More than three million South Carolinians have at least one chronic disease such as cardiovascular disease, and the projected total cost of chronic disease between 2016-2030 in South Carolina is $687 billion1. The initial focus of the partnership will be on addressing chronic diseases and acute conditions prevalent in South Carolina.
"Together with MUSC, we are committed to fundamentally improving the way patient care is delivered," said Omar Ishrak, Medtronic chairman and chief executive officer. "Medtronic has a long history of collaboration with health care providers to invent and develop new markets to solve a variety of clinical problems. The partnership with MUSC is an extension of that collaboration, as we look to systematically work together to develop scalable programs aimed at improving patient outcomes while reducing the cost of care."
In one initial program, the two organizations plan to standardize a comprehensive vascular disease care pathway across the entire continuum of patient care, ultimately implementing a model for the identification, diagnosis, treatment and follow-up care of patients with vascular disease who can benefit most from medical intervention. This evidence-based model is designed to help clinicians identify and treat patients earlier in their disease progression.
Medtronic and MUSC also plan to implement a standardized care pathway program for joint replacement patients that addresses the bundled payment methodology implemented by the Centers for Medicare and Medicaid Services (CMS). The episodic care pathway intends to establish best practices and streamline processes to improve the quality of care for patients while reducing costs. Similarly, Medtronic and MUSC also plan to standardize care pathways designed to reduce adverse events and optimize care for patients who can benefit from enhanced respiratory monitoring, or who need a tracheostomy procedure for breathing assistance.
The partnership also creates a unique opportunity for MUSC to build upon existing curriculum to educate future health care professionals about value-based health care.
