Boston Scientific (NYSE:BSX) today said it’s building value-based offerings into its cardiovascular business to help its hospital customers optimize their operations, enlisting MedAxiom and TogetherMD to help build its Advantics service.
Advantics offers a variety of solutions for healthcare providers, including performance optimization, capital financing, care pathway transformation and patient management programs, Boston Scientific said. Advantics "emphasizes collaboration to meet unique customer needs," the company said.
MedAxiom, a subscription-based service for cardiology practices, offers data analytics, healthcare management consulting and "shared experiences" to its 320 provider members, according to its website. Its deal with Marlborough, Mass.-based Boston Scientific calls for it to help the medical device maker build programs to optimize cardiovascular care providers’ operations "from diagnosis to treatment and ongoing care," Boston said.
The deal with TogetherMD calls for the integration of its data analytics software into BSX’s cardiovascular line, including benchmarking data, analysis of ongoing operational and financial performance and billing & coding accuracy, according to Boston Scientific. The company said it plans to evaluate the TogetherMD tech, which that company claims can save a hospital $1.5 million a year, across its entire business.
“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," president & CEO Mike Mahoney said in prepared remarks.
"Most hospital systems can benefit from the sharing of best practices – and methods to make this easier to do are welcome," added Dr. David Hurrell of the Minneapolis Heart Institute. "We are already seeing how our work with Boston Scientific can improve the quality and efficiencies of cardiovascular care."
