The continually evolving healthcare market presents significant challenges for sector operators; not only when it comes to complying with the latest regulatory demands, but the complex logistical realities of patient care as well. MIT Holding (OTC: MITD) has assembled a unique mix of offerings that allows it to act, via a growing portfolio of contractual and affiliate agreements, as well as key licenses, in the role of a single-source provider to a variety of outpatient service and other markets. One of the most important relationships established by the company is with the originator of automated, on-demand online referral packets, Curaspan Health Group. Curaspan, a recognized Health Information Exchange and Patient Transition software company that helps connect providers, payers and suppliers through secure patient-transition network technologies and assists patients through their transition between different phases of care, is an important ally for MIT Holding’s ability to deliver winning solutions across the aforementioned markets, which are rapidly expanding as more and more people realize the benefits of outpatient care.
Markets like in-home infusion therapy, or the administration of medication through (typically) injection or catheter, is one of the top service areas enabled by MIT Holding’s contract with Curaspan. In-home infusion therapy has proven to be as safe and effective as inpatient care across for many diseases, is more convenient and comfortable for the patient, and generally results in better care and patient outcomes.
The contract provides MIT Holding access to a real-time market consisting of the patients from over 5,400 Curaspan affiliated medical facilities. By sending out a registered nurse to consult with the patient, conduct the administration of infusion care, help establish the patient’s medication and equipment needs in greater detail, as well as make determinations about any follow up appointments, additional therapy, or billing and insurance, MIT Holding is able to establish tightly-knit relationships and a stable commercial footprint.
Furthermore, MIT Holding – which specializes in providing an entire menu of such in-home recovery services and even operates ambulatory centers in Georgia through its subsidiaries – liaises directly with customers and is able to establish meaningful contact before the patient even leaves the healthcare facility. This personal contact allows the MIT Holding representative to map out a comprehensive home recovery template tailored to the individual.
With direct contact and MIT Holding’s tailored approach, outpatient care becomes an easy option for the end user, even before the cost savings over staying in the hospital have entered the equation.
The in-home infusion segment of the outpatient market alone is headed steadily upward from the $15.9 billion seen last year and is expected to reach a global market of over $26.7 billion within just the next five years (Persistence Market Research), growing at a CAGR of around 9.0 percent on the strength of increasingly aged populations around the globe, and increasing incident rates of chronic diseases which require infusion therapy.
This is particularly true in North America and Europe, infusion therapy’s two largest markets, where antibiotics and anti-infective indications represent the mainstay for major sector players like Baxter (NYSE: BAX) and CareFusion (NYSE: CFN), and are set to outpace the underlying infusion therapy market by around 0.8 percent CAGR over the same interval.
By 2050, 19 percent of the U.S. population will be over the age of 65; the incidence rate of chronic conditions is expected to follow suit, with estimates that over 170 million Americans will suffer some form of chronic disease by as early as 2030 (Harris Williams & Co.).
At the same time, the Patient Protection and Affordable Care Act (ACA) will continue to bring huge numbers of previously uninsured patients into the market. With nearly 11.7 million of the previously forecast 32 million uninsured set to be covered under the ACA already added to the rolls in state and federal marketplaces as of March 2015, according to Health and Human Services Secretary Sylvia Mathews Burwell, we are already starting to see the leading edge of this massive trend. The implications for outpatient care could be enormous.
For an in-home comprehensive health recovery services company like MIT Holding, this underlying phenomenology will continue to be a growth driver for many years to come, undergirding the company’s business model with a firm foundation that will only increasingly seek out the convenience and savings benefits its service offerings can provide. Taking care of the patient’s needs from hospital discharge through to recovery, and yet being able to provide as much as a 90 percent savings over equivalent care if it took place in a hospital setting, is a key factor that will continue to fuel MIT Holding’s revenue fire, helping the company extend the success of a profitable 2014. First quarter 2015 revenues were double that of the year prior.
The company also rents and sells robust medical equipment for the home, a market on track to hit $12.6 billion by 2018 in the U.S. alone, according to a study published last year by market analysts Freedonia, growing at a CAGR of 8.2 percent from the roughly $8.5 billion seen last year. The increase in chronic diseases like cancer, kidney failure and respiratory disorders will be a major contributing factor to rising demand for hardware like oxygen concentrators needed for COPD (chronic obstructive pulmonary disease) and the like.
Another key advantage MIT Holding has is access to specialty drugs and custom compound pharmaceuticals, allowing the company to cost effectively address the medicinal needs of its patient customers and offer compelling availability/affordability advantages. With the specialty pharmaceuticals market at over $78 billion last year (Drug Channels Institute), MIT Holding is in a prime position to compete with the 250 plus URAC-accredited (Utilization Review Accreditation Commission) specialty pharmacies out there (including about 100 “In Process” companies expected to achieve accreditation this year), possessing an established customer pool that is built on comprehensive services and face-to-face contact. The company also distributes wholesale pharmaceuticals in the U.S. and overseas via its subsidiaries.
With MIT Holding and its affiliates now able to direct bill and receive payments from over 138 of the country’s top regional and national carriers on behalf of patients, carriers like Medicare/Medicaid, as well as major players like Aetna (NYSE: AET) and Cigna (NYSE: CI), the company is now more confident than ever about its business model. The company leverages a model built on the medical and financial benefits of a smooth patient transition that takes them all the way through from their discharge at the hospital to recovery within the comfort and familiarity of their own home.
Learn more by visiting the company’s newly overhauled website at www.mitholdinginc.com
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