Medtronic (NYSE:MDT) today launched an outcomes-based reimbursement program for its MiniMed 670G automated insulin delivery system.
As part of its ‘MiniMed 670G Performance Guarantee Program,’ the medtech giant will dole out flat-fee reimbursements of up to $25,000 per pump over four years for diabetes-related inpatient hospitalization and ER admissions.
Medtronic said the program offers the company an opportunity to work with payers and employers to identify patients who could most benefit from the MiniMed 670G system.
“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,” Alejandro Galindo, president of Medtronic’s advanced insulin management division, said in prepared remarks.
“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,” Suzanne Winter, VP of the Americas region for Medtronic’s diabetes unit, added.
Medtronic’s MiniMed 670G system automates insulin delivery for people with diabetes, adjusting basal insulin doses every five minutes according to real-time glucose values.
The launch of its reimbursement offering comes on the heels of two major regulatory wins for Medtronic – this month, the MiniMed 670G won an expanded approval in the U.S., extending the product’s use to children under the age of 7. In the European Union, Medtronic won CE Mark clearance for the system.
