|Medtronic Care Management Services and American Well Announce Strategic Partnership to Integrate Telehealth Capabilities|
Partnership Focused on Enabling Care for Chronic, Co-Morbid Patients
DUBLIN and BOSTON - October 16, 2017 - Medtronic plc (NYSE:MDT) today announced its Medtronic Care Management Services (MCMS) business and American Well® entered into a first-of-its-kind strategic partnership to enable a more complete telehealth solution focused on the unique needs of the complex, chronic, co-morbid patient population.
Under the terms of the agreement, the businesses will work together to enable patient access to American Well's telemedicine services on MCMS' video-enabled platforms, and to allow bi-directional data flow between the two parties. The telehealth solution will provide information from MCMS' remote patient monitoring to clinicians performing consultations using American Well's telemedicine capabilities, and enable information from these telemedicine visits to be included in MCMS' clinical management software. The partnership is designed to provide greater patient access to their care team, while improving clinician access to the critical information needed when making care decisions - especially as they evaluate opportunities for early intervention.
"We are thrilled to partner with American Well to provide an innovative, patient-centric solution to our customers," said Sheri Dodd, vice president and general manager, Medtronic Care Management Services. "Providing care to complex, chronic, co-morbid populations requires access to, and coordination between, multiple clinical specialties. Our work together will help clinicians gain a more complete view of a patient's health status when making care decisions, and will help ensure access to information from telemedicine interactions is available to the broader care team while the patient remains in their own home."
The use of telehealth solutions is increasing exponentially due in part to the increasing complex, chronic, co-morbid patient population - whose multiple disease diagnoses require ongoing attention from several clinical specialties, and whose care drives more than 70 percent of total U.S. healthcare spending.1 MCMS and American Well's strategic partnership brings key components of telehealth services together, with the goal of reducing the cost of care and improving patient outcomes for this unique population.
"We are delighted to partner with Medtronic Care Management Services to connect patient monitoring data into telehealth visits. This will help clinicians more effectively manage patients while providing patients with flexible access to expert care when they most need it," said Ido Schoenberg, CEO of American Well. "These new capabilities will serve clients of both Medtronic Care Management Services and American Well, enhancing the capabilities available to health plans, major health systems, and other customers pursuing more efficient care of complex patients."
Medtronic is committed to developing services and solutions that address healthcare needs by improving clinical and economic outcomes. As a trusted source for hospitals, clinics, home health agencies, and payers, Medtronic Care Management Services is committed to improving patient outcomes, and delivering economic benefits to the healthcare system. This approach supports the company's transition toward expanding traditional medical device product offerings to broader healthcare services and solutions, providing meaningful clinical and economic value for hospitals, physicians, patients, and payers.
American Well uses telehealth to improve people's access to quality care. The company serves a telehealth ecosystem of more than 250 healthcare partners nationwide, including most major health plans and more than 70 health systems comprised of over 975 hospitals.
About American Well
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
American Well, The Exchange, and Amwell are registered trademarks or trademarks of American Well Corporation in the United States and other countries. All other trademarks used herein are the property of their respective owners.
1 Gerteis J, Izrael D, Deitz D, LeRoy L, Ricciardi R, Miller T, Basu J. Multiple Chronic Conditions Chartbook. AHRQ Publications No, Q14-0038. Rockville, MD: Agency for Healthcare Research and Quality. April 2014.