MIT Holding, Inc. (MITD) Offers Unique In-home Infusion Expe MIT Holding, Inc. (MITD) Offers Unique In-home Infusion Experiences Utilizing Fully Licensed Compounding Pharmaceuticals
Los Angeles-based MIT Holding has an established working arrangement with one of the approximately 400 compounding licensed pharmacies remaining in the United States. Currently, many big name pharmaceutical companies are buying up these compounding pharmacies to eliminate competition. However, MIT Holding has a contractual arrangement with a well-respected and highly qualified compounding pharmacy that enables it to fulfill its own infusion and other specialty prescriptions. This capability provides MIT Holding with a distinct advantage over local “mom-and-pop” infusion centers in the rapidly growing $11 billion a year U.S. infusion therapy market.
The two most recognized names in the infusion sector are CVS Health Corp. (NYSE: CVS) and Walgreen Co. (NYSE: WAG). Both of which have established footprints into the home infusion market through a series of strategic acquisitions that highlight the growing demand for home infusion services.
CVS earlier this year completed its acquisition of Coram LLC, the specialty infusion services and enteral nutrition business unit of Apria Healthcare Group Inc., and in May entered into a definitive agreement to acquire Omnicare (NYSE: OCR). The acquisition of Omnicare is expected to greatly expand CVS’s specialty pharmacy business and increase its ability to dispense prescriptions in assisted living and long-term care facilities.
MIT Holding is also uniquely positioned for opportunities in the prescription dispensary and in-home infusion services markets. That is because MIT Holding’s business model is built around the company’s full suite of in-home recovery services, which begins when MIT Holding sends a company representative to a patient’s hospital bed on the day of discharge to establish a blueprint for successful home recovery.
Following the initial contact, MIT Holding will send a registered nurse (RN) directly to the patient’s home to provide infusion therapies and consultation. The typical four-hour infusion procedure allows the RN to establish a personal working rapport and customized recovery regimen for the patient, while cross-marketing MIT Holding’s complete suite of services. The RN offers a thorough analysis of the patient’s needs, from medications, durable medical equipment, doctor appointments, therapy sessions, insurance billing, insurance inquires, and a financial overview of the expected expenses of the remaining recovery period.
With current MIT Holding patients, this cross marketing approach is effective by including all other household members. MIT Holding benefits with an immediate expansion of its patient base by offering its services to meet the medical needs of these family members. Results have shown that families and patients often realize valuable savings on their medications, including the original infusion therapies.
MIT Holding’s new approach establishes a digital databank of information on the patient’s recovery regimen, which was created at the bedside of the patient at the point of discharge. This creates a new revenue stream of vital records necessary for doctors and hospitals to comply with new mandatory federal requirements, documenting their patient’s recovery.
Through its innovative and comprehensive in-home recovery services, which include specialty drugs, infusion services, compounding pharmaceuticals, direct insurance inquiries, insurance billing, and cross marketing efforts, MIT Holdings is in prime position to take advantage of multi-billion dollar markets. Based on IMS Health data, the specialty pharmaceuticals market is valued at $77.5 billion, constituting roughly a quarter of the overall market and growing at more than double (8.8%) the rate. Combined with the $11 billion home infusion market, these sectors are rapidly approaching the $100 billion mark.
For more information visit www.mitholding.com or contact William Nalley at 305-515-8077
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