FRANKLIN, Tenn.--(BUSINESS WIRE)--MedSolutions (http://www.medsolutions.com/) announced today that it has closed its acquisition of Plainville, Conn.-based Triad, a leading musculoskeletal (MSK) specialty benefits management company. Originally announced on September 5, 2013, this is the first significant acquisition for MedSolutions and enables the company to broaden and deepen its existing services in this area of growing medical spend.
“MedSolutions’ now-expanded musculoskeletal offering is another important step in helping us fulfill our longtime mission of driving positive change in the healthcare system,” said Gregg Allen, M.D., FAAFP, MedSolutions’ chief medical officer. “Together with Triad, we are expanding our ability to deliver proven, tailored products and services that measurably improve patient outcomes and reduce costs.”
Triad specializes in programs that address pain management, spine surgery, joint surgery and physical medicine (PT, OT and chiropractic). When combined, these areas of medical care average 18 percent of commercial medical care payers’ costs and 10 percent of Medicaid costs. Like MedSolutions, Triad’s patient-centered approach coordinates care among all involved from diagnosis through treatment and recovery. Health plans and accountable care organizations (ACOs) could see a reduction in spending of 20 percent by implementing the comprehensive musculoskeletal programs offered together by MedSolutions and Triad.
The acquisition of Triad is fully aligned with MedSolutions’ strategic growth plan, which includes a significant effort by the company to diversify its portfolio of products and strengthen its current programs. While MedSolutions will remain focused on developing new products and services internally, the company will also continue to evaluate promising acquisition opportunities that enhance existing solutions and help clients tackle new challenges.
“By adding the expertise of Triad, MedSolutions continues to solidify its leadership in the medical cost management space. Here we have an opportunity to rapidly expand and enhance our musculoskeletal solution to more comprehensively support this area of growing medical spend,” said Gino Tenace, MedSolutions’ chief strategy officer. “We believe MedSolutions can provide the necessary support to further drive and accelerate the growth that Triad has already achieved, while maintaining and expanding their excellent customer relationships.”
Vince Coppola, Triad’s president, added, “My team and I are thrilled to be working with MedSolutions because we see so much alignment in the services we provide. In creating a stronger, unified company, we are better able to serve our customers, patients and providers.”
About MedSolutions
MedSolutions is a medical cost management company delivering proven solutions that enable commercial, Medicare and Medicaid payers, as well as other leading healthcare organizations, to reduce spend while still preserving the quality of care their members expect and deserve. The company achieves this through proven, tailored programs for Diagnostic Testing and Imaging Management, Oncology Management, Cardiology Services Management, Post-Acute Care Management and Comprehensive Musculoskeletal Management. MedSolutions is proud to help 28 million Americans receive higher quality, lower cost healthcare. The company has been recognized for outstanding customer service and effective call center management by the International Customer Management Institute and has received the prestigious J.D. Power and Associates Award. Visit www.medsolutions.com.
