
Access MediQuip
closedOutsourced management of implantable medical devices.
Date | Investors | Amount | Round |
---|---|---|---|
$46.9m | Growth Equity VC | ||
Total Funding | 000k |
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Founded in 1997, Access MediQuip was the first and largest national provider of outsourced management solutions for implantable medical devices. The company's primary business involved purchasing implantable devices, such as orthopedic and spinal implants, directly from manufacturers, delivering them to surgical facilities, and then managing the billing and reimbursement process with commercial payers. This model allowed healthcare facilities to mitigate financial risk associated with high-cost implants, as they did not have to worry about reimbursement from insurers.
The company worked with thousands of healthcare providers, payers, and over 175 manufacturers. Its services were designed to manage the acquisition, financing, and delivery of devices. In March 2010, the company launched a Recall Management Service to identify and track patients with recalled or defective devices. However, in May 2015, Access MediQuip announced it was undergoing a corporate restructuring and that its division for implantable device procurement and management would cease operations. Its division, Beacon Device Services, which specialized in the pre-authorization of implantable devices for hospitals and surgery centers, was slated to continue operations.
Keywords: implantable device management, surgical implant outsourcing, medical device reimbursement, third-party implant billing, orthopedic implants, spinal implants, recall management service, healthcare financial risk, medical device procurement, surgical device billing