September 7, 2004
For Immediate Release
FOOTHILL RANCH, CA -- Medical and Surgical Procedure Volume, Reimbursement and Top Regional Hospitals by Volume Data Now Available in TrueData(TM) Reports from MedMarket Diligence and Medical Technology Partners
Drawing on the coding and reimbursement consulting experience of Medical Technology Partners, a highly respected industry resource, MedMarket Diligence has introduced TrueData(TM) Reports, a series of data reports presenting procedure volumes, discharges, physician and hospital reimbursement and top volume hospitals by region. Designed as resources to guide decisions about market development in medical technology, each report covers a specific medical/surgical procedure and, depending on the detail clients require, may provide multiple years of data on procedure volume and discharges, physician fee and facility reimbursement and the top hospitals by region in volume of procedures.
“Medical product companies of all types need to measure and anticipate the changes in delivery of healthcare at a medical procedure-specific level, and to do so requires authoritative, consistent and useful data,” says Patrick Driscoll, president of MedMarket Diligence. “For this reason, we evaluated many possible sources of this data and concluded that Medical Technology Partners was the perfect company to join forces with and serve this industry need.”
“We have developed comprehensive datasets on ICD-9, CPT-4 and DRG-coded medical/surgical procedures as part of our internal resources to provide reimbursement consulting to the medical product industry,” says Jerry Stringham, president of Medical Technology Partners, “and we are therefore pleased to have the opportunity to leverage these resources to the benefit of the industry in the unique TrueData(TM) Reports. We are also very pleased to work with MedMarket Diligence, a company with real experience serving the needs of the medical product industry for true data and insights.”
Drawn from multiple federal and other sources, including the National Hospital Discharge Survey, the Healthcare Cost and Utilization Project, and Medicare, among others, and combined with the reimbursement consulting-driven insights of Medical Technology Partners, each TrueData(TM) Report provides a comprehensive, multiple-year assessment of the trend in procedure volume and reimbursement. Standard, off-the-shelf reports are priced based on procedures being identified by conventionally used names and/or the use of multiple similar ICD-9, CPT-4 or DRG codes.
While the full spectrum of medical/surgical procedures may be presented in individual TrueData(TM) Reports, examples of reports available include:
TrueData(TM) reports can be put to a wide range of uses, including:
· Hospital selection for clinical trials.
· Trends in payer mix, age distribution and regional distribution reveal opportunities and challenges for product development and sales.
· Top volume hospitals by region reveal untapped market potential in specific sites. This data enables the Sales department to target their sales force and objectively evaluate sales performance.
· Strategic planning for new product launch or selection of test markets for new products.
· Trends in the aggregate U.S. volume of procedures illustrate the net effect of changes in clinical practice and technology utilization, revealing opportunities or challenges for market growth.
A particularly valuable component of TrueData(TM) Reports is data on the top hospitals by region performing each medical/surgical procedure, revealing real opportunities for the marketing and sales of medical products.
The TrueData Reports are described in detail at www.mediligence.com/truedata.htm, including sample data. Multiple options are available for the reports with pricing based on detail required and numbers of procedure reports ordered.
About Medical Technology Partners
Medical Technology Partners helps companies understand and work with the new reimbursement realities within the health care marketplace by way of reasonable and functional strategies and plans. MTP is committed to excellent customer service, advancing patient care, making timely and accurate recommendations, and reasonable and flexible pricing arrangements. President Jerry Stringham has spent much of the past sixteen years as a reimbursement strategy consultant. Beginning in December 1988, Mr. Stringham began providing reimbursement consulting to diverse medical and pharmaceutical companies. Mr. Stringham holds a BS in Mechanical Engineering from the Massachusetts Institute of Technology and an MBA from Harvard Business School. He has been part of five medical device start-up organizations operating out of New England. Mr. Stringham founded Medical Technology Partners in 1998 to fill the growing need for business-oriented reimbursement consulting. Mr. Stringham's experience in industry, including as a Principal in the health economics practice of a major CRO, brings expertise to new technology reimbursement challenges.
About MedMarket Diligence
MedMarket Diligence provides tactical decision-making solutions on medical technology to the medical products and investment industries. The company publishes the “MedMarkets” newsletter, a monthly analysis of the market implications of new medical technology and dedicated reports on technology markets. For more information on MedMarket Diligence, LLC, contact Patrick Driscoll at (949) 859-3401, e-mail, or visit http://www.mediligence.com.