DUBLIN- June 28, 2018 - Medtronic plc (MDT), the global leader in medical technology, today announced the launch of the MiniMed(TM) 670G Performance Guarantee Program - an outcomes-based offering for payers and employers designed to mitigate costs for diabetes-related complications. With this Guarantee, Medtronic will provide flat-fee reimbursements up to $25,000 per pump over 4 years for qualifying diabetes-related inpatient hospitalization and emergency room admissions for eligible in-network patients in the United States.
"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," said Alejandro Galindo, president of the Advanced Insulin Management division within the Diabetes Group at Medtronic. "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 program will provide an opportunity for Medtronic to work with payer and employer partners to identify patients who would benefit from the MiniMed 670G system, including those who may be most at-risk for diabetes-related adverse events. Given Medtronic`s comprehensive suite of products and services, including offerings like the standalone Guardian(TM) Connect continuous glucose monitoring system, the company is well positioned to identify these patients and transition them to the MiniMed 670G system, where they will be supported by our existing patient engagement program.
The MiniMed 670G system, featuring SmartGuard(TM) technology and Guardian(TM) Sensor 3, is the world`s first self-adjusting insulin pump that delivers personalized amounts of basal insulin every 5 minutes based on real-time sensor glucose values. A growing and compelling body of both real-world and clinical trial data demonstrate improved Time in Range (the percentage of time spent in the optimal glycemic range of 70-180 mg/dL), A1C (a marker of blood sugar control over time) and Quality of Life for people using the system to manage their type 1 diabetes. SmartGuard technology is the only algorithm available anywhere in the world with the ability to reduce the risk of hypoglycemia by 44 percent, stabilize glucose at recommended levels, and minimize blood sugar variability.1
"In-patient admissions are a major driver of costs in the diabetes population, particularly among patients on multiple daily injections.2 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," said Suzanne Winter, vice president of the Americas region for the Diabetes Group at Medtronic. "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."
About the Diabetes Group at Medtronic (www.medtronicdiabetes.com)
Medtronic is working together with the global community to change the way people manage diabetes. The company aims to transform diabetes care by expanding access, integrating care, and improving outcomes, so people living with diabetes can enjoy greater freedom and better health.
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world`s largest medical technology, services, and solutions companies - alleviating pain, restoring health, and extending life for millions of people around the world. Medtronic employs more than 86,000 people worldwide, serving physicians, hospitals, and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic`s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
1 Bergenstal RM, Klonoff DC, Garg SK, et al. Threshold-based insulin-pump interruption for reduction of hypoglycemia. N Engl J Med. 2013;369(3):224-232.
2 OPTUM Diabetes data set Oct 2015 - Sep 2016.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Medtronic plc via GlobeNewswire