By Joe Moscato
Envision the ideal healthcare system: one in which patients receive optimal treatment from primary care providers and specialists alike, while these providers in turn are able to maximize revenue and maintain close control over the direction and operation of their own practices. All too often, the fragmented U.S. healthcare system falls short of this ideal—but a new healthcare model may transform it into reality. Generex Biotechnology has envisioned a new end-to-end solution for patient centric care, from rapid diagnosis through delivery of personalized therapies.
Generex’s vision extends beyond traditional healthcare models, by providing support to physicians while maintaining ongoing relationships with patients through an MSO network (including a large diabetes-focused group based in Arizona). The vision for this model is to deliver and manage healthcare services for patients with chronic, complex medical conditions, particularly diabetes.
This MSO subsidiary, called NuGenerex Health, will employ ophthalmologists, podiatrists and medical staff, with an on-site clinical laboratory and pharmacy to provide ancillary health services for chronic care patients. By bringing specialty ancillary care directly to the patients who regularly visit the practices, NuGenerex Health provides an integrated, collaborative care model to not only enhance patient wellbeing, but also to comply with CMS guidelines for diabetes and chronic care management that can lead to 5-star ratings and increased reimbursements. Additionally, Generex has subsidiaries, the NuGenerex family of companies, that offer a wide range other medical services and products for the practices, including software solutions, innovative therapies, medical devices for wound care, and regenerative medicine products. The overall aim is to enhance the doctor/patient relationship through a single point of access for high-quality ancillary products and services.
Furthermore, the company is implementing database systems to support service offerings for chronic care and medication therapy management as well as patient support services. Together with an integrated medical record across specialties and a robust, proprietary analytics tool, the data systems will provide a powerful source of patient outcomes data that can not only enhance the company’s operational performance, but can also be de-identified and packaged for sale to insurers and employers that want to optimize their performance.
On the treatment side, NuGenerex acquired Olaregen, a regenerative medicine company focused on developing products in the wound care space. Its lead product, Excellagen®, is a three-dimensional flowable dermal matrix that is cleared by the FDA for 17 indications of wound care management, representing more than 92 million potential cases. NuGenerex also acquired Pantheon Medical and MediSource Partners, companies that offer orthopedic implants, surgical kits and supplies, and biologics. The physicians in the MSO have access to these products at a discount and can pass those savings on to their patients.
Additionally, in the continued quest to develop innovative treatments, Generex completed an acquisition of a majority stake in ALTuCell, Inc., a cellular engineering and biotech company focused on fulfilling a large unmet need in cell, molecular and regenerative therapy for the treatment of diabetes and other autoimmune and neurodegenerative diseases. The company’s proprietary and unique technology overcomes the major barriers to transplantation by a novel strategy utilizing patented microencapsulation technology, enabling a transplantable, cell-based therapy that avoids detection and rejection by the immune system.
Finally, another part of the vision for the new MSO model is to accelerate clinical development. Because NuGenerex Health will have diabetes specialists working together, the company will have access to approximately 25,000 people who depend on insulin to manage their diabetes. These patients may be candidates for volunteering in future clinical studies of ALTuCELL cellular therapy for Type I diabetes.
The vision Generex has of an MSO that goes beyond only providing ancillary services has the goal of allowing patients to receive comprehensive and easier access to healthcare, while in parallel reducing the administrative burden on the HCPs—allowing them to spend more time providing the highest-quality patient care and continued ownership of their practices. Ultimately, this model could streamline the cost of U.S. healthcare, offering benefits to patients and providers in ways never before possible.
Joe Moscato is President and CEO of Generex Biotechnology, an integrated healthcare company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies.