FRANKLIN, Tenn.--(BUSINESS WIRE)--MedSolutions (http://www.medsolutions.com/) announced today an agreement to acquire Triad, a leading musculoskeletal (MSK) specialty benefits management company. The new venture will further MedSolutions’ goal of meeting an expanding need among its customers for products and services that reduce healthcare costs as a result of improving quality. The offering, known as Triad powered by MedSolutions, will be the first significant acquisition for the company.
“MedSolutions and Triad complement one another in many ways and, together, we will continue to work with payers to reduce healthcare costs while improving quality”
Triad is based in Plainville, Conn. and has specialized programs that address pain management, spine surgery, joint surgery and physical medicine (PT, OT and chiropractic). When combined, these areas of medical care average 18 percent of commercial payers’ costs, 17 percent of Medicare costs and 10 percent of Medicaid costs. Triad’s patient-centered approach coordinates care among all involved from diagnosis through treatment and recovery, improving patient outcomes and reducing overall costs. Health plans and accountable care organizations (ACOs) could see a reduction in spending of 20 percent by implementing this program.
“Triad helps expand our offerings by providing solutions to address a category of spending that is increasingly important to our customers – pain management,” said Gregg Allen, M.D., FAAFP, MedSolutions’ chief medical officer. “Unlike common approaches to musculoskeletal pain management, which are often siloed and address only one specific area of the pain management challenge, this program administers a comprehensive process. This development enables our company to provide additional services to help ensure a higher quality of care for patients and drive even greater value for our customers.”
Pain, normally considered a symptom of underlying medical issues, has evolved into a health problem unto itself, impacting more than 116 million Americans annually. Combining health care and lost productivity, chronic pain costs our country $560-$635 billion each year. Despite the overwhelming volume of patients experiencing musculoskeletal pain conditions, many providers are not sufficiently trained or resourced to effectively treat them. Triad’s approach consists of four main pillars of support:
- The application of evidence-based clinical guidelines, with a focus on guiding the physician to deliver medically necessary care that is safe and effective.
- Individualized care management and planning, using Triad’s innovative Pain Navigator technology to conduct an evidence-based care analysis and produce a plan specific to the patient and his or her pain condition.
- Provider education and decision support by credentialed, board-certified clinicians who are actively practicing in the same specialty as the treating provider and are regularly trained in current medical policy and evidence-based guidelines. These clinicians work directly with physicians to determine the best approach for an individual patient, taking into account the latest clinical findings.
- Coordination across the care continuum, including partnered coordination for disease management, case management, behavioral health and pharmaceutical management specialties. At four separate times during a patient’s care and recovery, the company will reach out directly to targeted patients to answer questions, track progress and ensure adherence to his or her individualized post-procedure care plan.
“MedSolutions and Triad complement one another in many ways and, together, we will continue to work with payers to reduce healthcare costs while improving quality,” said Gino Tenace, MedSolutions’ chief strategy officer. “While MedSolutions will continue to create new products and services through organic development, the Triad acquisition presents us with a significant opportunity to expand more rapidly into a healthcare segment that complements the current suite of MedSolutions’ products and helps fulfill our mission.”
Vince Coppola, Triad’s president, shared, “This is a great opportunity to accelerate and drive the growth of our business and to become a more efficient partner for our customers. My team and I are looking forward to working with MedSolutions.”
MedSolutions is a medical cost management company, saving money for health plans and people by improving patient care. We achieve this through management programs for advanced imaging, cardiac imaging, ultrasound, obstructive sleep apnea diagnosis and therapy compliance, radiation therapy, musculoskeletal, post-acute care and implantable cardiac rhythm devices. We are proud to help 28 million Americans receive higher quality, lower cost healthcare. MedSolutions has been recognized for outstanding customer service and effective call center management by the International Customer Management Institute and J.D. Power and Associates. Visit www.medsolutions.com.