Value-Based Medical Technology Association Formed to Promote Technologies Designed for Healthcare Value
WASHINGTON, July 14, 2015 /PRNewswire/ -- The Value-Based Medical Technology Association (VBMTA) was launched today to enable healthcare providers to provide better care with fewer resources through the use of value-based medical technologies. The VBMTA is a 501(c)(6) non-profit trade association promoting market access to reliable, low-cost medical technology supporting the legal, regulatory and other trade interests of its members.
Rick Ferreira, Chairman and CEO of Intralign Health, LLC and VBMTA Board Chairman, stated that today, most medical device firms utilize traditional technology models that render hospital device and accessory spend disproportionate to the value delivered. He noted that in many clinical areas, premium-priced devices fail to show benefits over standard devices.
"This model is unsustainable because providers cannot continue to cover these costs while providing appropriate care," Ferreira said. He cited patient satisfaction and outcome survey results that show value-based devices actually have the same efficacy, safety and patient satisfaction as premium devices. "We believe that VBMTA will serve as an important vehicle to educate providers and hospitals on the benefits of value-based medical technologies, and can help hospitals access technologies designed for healthcare value, not for the legacy manufacturer's bottom line."
Value-based medical technologies represent quality (parity, safety and efficacy commensurate with brand counterpart) medical devices, but at lower cost, thereby delivering greater value. The VBMTA membership comprises companies that deliver superior total delivered value through a variety of solutions. For example:
- Proven technologies ("stable technologies"),
- Direct sales models and/or rationalized sales representative involvement,
- Innovative logistical, product delivery and sales support models ("disruptive delivery innovations") aimed at lowering costs and,
- Business models that drive out non-value added costs.
In addition to Rick Ferreira, the VBMTA's Board of Directors is also led by Vice Chairman Anthony Viscogliosi, President, Paradigm Spine, LLC.
About VBMTA
The Value-Based Medical Technology Association (VBMTA) organizes medical technology companies that provide hospitals with technology solutions that save money and provide quality. This enables healthcare providers to provide better care with fewer resources. VBMTA was founded in April, 2015. Its members include US technology companies committed to value-based care. For additional information, visit www.vbmta.com or contact the association at [email protected].
Media contact:
Kathy-Ann Gobin
KNB Communications
203-504-8230, ext. 134
[email protected]
SOURCE Intralign Health, LLC
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