The Medical University of South Carolina and Medtronic have signed on to a value-based healthcare collaboration, which aims to reduce the costs of managing chronic and acute conditions through standardized treatment pathways.
The five-year program will start by developing an evidence-based care model for vascular diseases, spanning a patient’s early identification, diagnosis, treatment and follow-up.
More than 3 million people in South Carolina have at least one chronic disease, such as cardiovascular disease. The two institutions project that the total cost of chronic disease in the state between 2016 and 2030 could reach $687 billion.
Medtronic and MUSC also plan to implement a standardized, episodic care pathway for joint replacement surgeries, addressing the bundled-payment methodology implemented by the Centers for Medicare & Medicaid Services.
They also hope to establish best practices and streamline processes for patients who can benefit from enhanced respiratory monitoring, or those who need a tracheostomy procedure for breathing assistance.
“Through our collaborative partnership, we plan to combat chronic disease and address community health needs in South Carolina and beyond,” said MUSC President David Cole, M.D. The university also aims to build upon its existing curriculum in value-based care.
MUSC previously launched a strategic partnership with Siemens Healthineers, targeting areas including pediatrics, cardiovascular care, radiology and neurosciences, to lower costs and improve outcomes—for example, by reducing the amount of time it takes for stroke patients to receive treatment.