Regenexx Corporate Updates: 169,902 and 1,904
Regenexx is the world’s largest specialist-driven orthobiologics network. We’re also almost two decades old. The most exciting thing that’s happened in these past few years is that we continue to add more “corporate overage”. What’s that and why is that important? Let’s dive in.
What is Regenexx?
Regenexx is an invitation-only, specialist-driven medical network that focuses on replacing invasive surgeries with interventional orthobiologics. You can’t join our network because you want to, you have to be qualified in by the medical director (me) because you have the basic skill set we need. That means that you understand musculoskeletal problems and have a background in image-guided injections.
Once accepted, a provider has to jump through these additional hoops:
- IOF certification in whichever body areas that the provider is qualified to treat. For example, we don’t want a provider who doesn’t know interventional spine to treat patients with back or neck pain.
- Additional Regenexx-specific training. That begins with the provider spending a week at our Colorado HQ for onboarding to ensure that the rubber meets the road issues that can’t be put into a training course are handled.
No other group of physicians practicing orthobiologics takes training so seriously.
Next, every provider MUST track all treated patients in a treatment registry. This is not optional and this is enforced. No other network offering orthobiologics does this tracking of outcomes and complications.
Regenexx Corporate is a program where we work with self-funded employers to offer less invasive interventional orthobiologic procedures to replace more expensive orthopedic surgeries. The employers get to save approximately 40% or more on what they spend and the employees get much less invasive options to replace orthopedic surgery.
Why has only Regenexx been able to pull this off to date? Because of the screening and training discussed above. We can deliver care at a high level all across our network and can make sure that from Des Moines to Florida to Colorado to Washington that the ability to save money is real. This is unique, as in our experience, without the processes we have in place to generate cost savings, adding orthobiologics to a health plan would be cost plus (more expensive than current care) versus cost-minus (less expensive).
Our providers also get a unique benefit from jumping through all of these hoops. They are the only providers on the planet who get patients walking in needing platelet-rich plasma or bone marrow concentrate procedures with an insurance card. Hence, an interventional pain practice can offer orthobiologic procedures and get paid no differently than they would for any other insurance-covered procedure they offer.
Our Corporate Plan Growth
Last night and today we have a board meeting where we get caught up on how all of this is going. Here are some very real results that were reported:
- 169,902-That’s the number of new covered lives (employees) that were added so far this year through direct contracting with their employers. Each one of those people now carries a Regenexx coverage card and can walk into any one of our almost 80 US sites to get interventional orthobiologics paid for by their employer. We’re also approaching 600 companies that have been added to this list.
- 1,904-That’s the number of new patients wanting to use their insurance card that we referred to our provider network so far this year. This does not include patients who want to be evaluated and are paying out of pocket, this is only for patients with full coverage for orthobiologics. We expect that this number will be almost 4,000 by year’s end.
We also continue to add new sites at a furious pace. For example, this year, we will add dozens of new places where employees can get this care. All of the cities we’re in right now are listed above.Join us for a free Regenexx webinar.
What this Means to Patients and Doctors
If you’re a patient, what does this mean? First, you may have insurance coverage for what we do, so check to see if we have a contract with your employer. If you’re a doctor practicing orthobiologics and you feel that you can make the cut, we’re happy to change your world and allow you to get paid by employers to take care of their employees.
The upshot? The Regenexx corporate program continues to explode. The best part about all of this is that we’re changing lives by allowing employees who ordinarily wouldn’t be able to afford these game-changing procedures out-of-pocket, access to less invasive orthopedic care that’s covered through their plan. We’re also moving toward that goal of making this new field the default standard of care.