Medical technology group Medtronic is staking a big claim on the efficacy of its MiniMed 670G insulin pump system, with a new programme that offers a performance guarantee to payers and employers using the device.
Quality level
Through its Performance Guarantee Programme, the company will offer flat-fee reimbursements of up to $25,000 per pump over four years for any patients who are hospitalised due to diabetes-related incidents in the US.
The medical device maker is moving towards a value-based healthcare system that helps to reduce the burden of diabetes-related healthcare costs.
Alejandro Galindo, president of the Advanced Insulin Management division within the Diabetes Group at Medtronic, said: “This new program demonstrates the strong confidence we have in our ability to deliver improved clinical outcomes with our MiniMed670G system and our commitment to value-based healthcare that not only improves outcomes but drives down the enormous burden of diabetes-related healthcare costs. Medtronic is committed to working with new partners, in new ways, to create a paradigm shift in healthcare so that incentives are based on delivering better outcomes and quality of care for our patients."
The MiniMed 670G system was approved by the FDA in 2016 as the world's first self-adjusting insulin pump that delivers insulin based on real-time data. The system, designed for use by patients with type 1 diabetes, uses an algorithm which the company states can reduce the risk hypoglycaemia by 44%.
Medtronic hopes that the programme enables it to work with payers and employers to identify patients who would benefit from the MiniMed 670G system.
Suzanne Winter, vice president of the Americas region for the Diabetes Group at Medtronic, said: "In-patient admissions are a major driver of costs in the diabetes population, particularly among patients on multiple daily injections. The innovative technology and strong clinical performance behind our MiniMed 670G system makes us the only company uniquely positioned to offer this tangible guarantee on outcomes. We believe this will be a compelling value proposition for payers and employers, as we create a new industry standard for diabetes contracting that can lead to improved health outcomes, contained costs and improved quality of life for diabetes patients. We look forward to establishing this novel program with our payer and employer partners."