SCOTTSDALE, AZ--(Marketwired - October 31, 2016) - Lattice Biologics Ltd. (TSX VENTURE: LBL) (OTCBB: BLVKF) ("Lattice Biologics"), an emerging biotech leader in cellular therapies and tissue engineering, with an emphasis on bone, skin, and cartilage regeneration, is pleased to announce it has formed a new strategic alignment with AllianceMed, LLC. As a third-party revenue cycle management company, AllianceMed serves as an advocate for physicians, medical professionals, and surgery facilities to increase the profitability of providing out-of-network benefits to patients. This partnership will help make Lattice's all natural AmnioVisc™ amnio viscosupplement available to a greater number of osteoarthritis joint pain sufferers while increasing reimbursement potential for providers.
THE COMPENSATION PROBLEM:
Balancing Insurance Issues with the Need for Modern Healthcare Solutions:
In today's climate, healthcare providers face a variety of challenges that impact the potential for profitability across their businesses. To offset rising costs and supplement flagging revenues, many practices are looking for new avenues to generate income and improve the standard of care for their patients.
Unfortunately, despite mounting evidence supporting the call for regenerative medicine and growing demand for innovative biologic products, such as AmnioVisc™, many new biologic treatments are not yet approved for reimbursement by most insurance plans. This puts care providers in the unfortunate position of either asking their patients to come out of pocket for promising therapies or resorting to more traditional treatments that may be less effective and pose increased health risks.
A SOLUTION THAT MAKES GOOD DOLLARS AND CENTS:
AllianceMed is working to combat this negative trend and increase treatment choices by helping physicians achieve the payments to which they are legally entitled. This is one of the few companies that consistently achieves reimbursement from insurance companies for new regenerative and biologic products. Lattice Biologics has selected AllianceMed as a key partner in great part due to its successful track record in this realm.
AllianceMed's novel approach to insurance reimbursement will make AmnioVisc™ a viable treatment option for new healthcare providers and patients, alike. This partnership will directly benefit many of the hundreds of physicians already working with the third-party revenue generating company and the tens of thousands of patients being serviced through its Patient Choice program. Additionally, beyond its current network, AllianceMed offers the potential to serve an even wider range of individuals across the United States.
"Regenerative medicine continues to surge forward with insurance reimbursement struggling to keep pace," states AllianceMed Co-President and Co-Founder, Matt Perez. "AllianceMed is a thought leader in developing advanced reimbursement strategies for clinically proven products and treatments. We align innovative clinical approaches with superior provider compensation to create a sustainable business model that will allow patients to receive the best care possible."
"This collaboration," Perez continues, "will help the approximately 27 million Americans, who are affected by Osteoarthritis (OA) who struggle to gain access to proven treatment methods, such as Lattice's AmnioVisc™ product."
AllianceMed's focus on education for providers and their knowledge of the complex and convoluted out-of-network (OON) benefits and insurance reimbursement arena affords healthcare providers with greater flexibility to prescribe the safest and most effective treatments for their patients by assisting in the collection of payments. Most significant for Lattice is that this paves the way for as many osteoarthritis patients as possible to receive the meaningful health gains offered by AmnioVisc™.
WHITE GLOVE TREATMENT FOR PROVIDERS AND AFFORDABLE RESULTS FOR PATIENTS:
Physicians who are interested in offering the highly-tested regenerative results from AmnioVisc™ can now receive comprehensive support for medical billing, insurance coding, allowables, and documentation from AllianceMed. This level of support will encourage more providers to experience the restorative properties of this amnio viscosupplement within their own practices, maximize reimbursement income, and make this powerful, all natural treatment available to and -- importantly -- affordable for their patients.
Armed with six months of excellent results from a 275-patient study to assess its efficacy and safety, AmnioVisc™ is the most studied amnio viscosupplement to date. In a controlled study, it demonstrated lasting safe pain relief and far fewer adverse effects than the current standard of care Hyaluronic Acid (HA) viscosupplements on the market1.
AmnioVisc™ is a novel, targeted regenerative therapeutic that is delivering promising relief for patients suffering from all degrees of OA pain and can be used to treat knee, elbow, shoulder, wrist, foot, ankle, neck, and spinal joints. Amniotic fluid has been proven to be significantly more effective than traditional viscosupplements, such as those from animal sources or fermentation1.
AllianceMed, LLC is a revenue generating service company that works with surgery centers to help increase revenue by taking on the insurance carriers on their behalf. Serving as an experienced advocate, AllianceMed holds insurance companies accountable for the PPO benefits that were sold to the employers and their employees. AllianceMed strives to optimize profitability for facilities, doctors and medical providers. AllianceMed developed a unique program called Patient Choice that vets patients, informs and educates people on the benefits they have purchased. AllianceMed works with all providers to educate them on using PPO benefits with patients that are already a part of their practice. Using the Patient Protection Act, the company ensures that insurance companies cover all benefits the patient elects to use, including their out-of-network benefits. For more information, visit http://www.alliancemedllc.com/.
Established in 2014, co-founders Chris Duffy and Matt Perez set out to create a revenue generating service company that offers concierge billing services to physicians, medical professionals, and facilities that use out-of-network benefits to dramatically increase profits. AllianceMed's state-of-the-art business model allows practitioners to continue to practice medicine hassle-free with the best possible patient outcomes.
Lattice Biologics Ltd.
Chief Executive Officer
Telephone No: (480) 563-0800
Learn More and Order AmnioVisc™
Lattice Biologics Ltd. offers AmnioVisc™ in 0.5ml, 1.0ml, 2.0ml, 2.5ml, and 4.0ml sized doses. AmnioVisc™ is currently patent pending and available for distribution throughout the United States, Canada, and internationally.
Learn about AmnioVisc™ | Download the Brochure | See the Presentation
For samples, to order, or request more information about AmnioVisc™, please contact: Clinicals@LatticeBiologics.com | call toll-free: 1-855-286-8088
1Read the study's monograph here.
About Lattice Biologics Ltd.:
Lattice Biologics Ltd. is an emerging precision medicine leader in the field of cellular therapies and tissue engineering, with an emphasis on bone, skin, and cartilage regeneration. As a manufacturer of the highest quality allografts, Lattice is focused on next generation products to improve surgical outcomes.
Versatile allografts for a variety of surgical applications:
- Enhancing fusion in spine surgery
- Enhancing breast reconstruction post mastectomy for breast cancer patients
- Sports medicine indications, including ACL repair
- Promotion of bone regeneration in foot and ankle surgery
- Promotion of cranial healing following neurosurgery
- Enhancing wound repair in burn victims
- Subchondral bone defect repair in knee and other joint surgeries
The Company is currently exploring new technologies in regenerative and personalized medicine:
Lattice Biologics operates headquarters, laboratory and manufacturing facilities in Scottsdale, Arizona as well as offices in Toronto Ontario. The Company maintains all necessary licensures to process and sell its tissue engineered products within the U.S. and internationally. This includes Certificates to Foreign Governments from the U.S. Food and Drug Administration (FDA) and registrations for 29 countries, which allow the export of bone, tendon, meniscus, ligament, soft tissue, and cartilage products outside of the U.S.
Lattice Biologics (TSX VENTURE: LBL) (OTCBB: BLVKF) became a publicly traded company on January 4, 2016. For more information visit http://www.latticebiologics.com/.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the 'safe harbour' provisions of Canadian securities laws. All statements herein, other than statements of historical fact, are to be considered forward looking. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "potential", "future", "expected", "could", "possible", "goal", "intends", "will" or similar expressions. Forward-looking statements in this news release include, without limitation: information pertaining to the Company's strategy, plans, or future financial performance. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lattice to be materially different from those expressed or implied by such forward-looking statements.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management as of the date such statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The factors and assumptions that could prove to be incorrect, include, but are not limited to: that market prices will be consistent with expectations, the continued availability of capital and financing, and that general economic, market and business conditions will be consistent with expectations. The forward-looking statements are not guarantees of future performance. We disclaim any obligation to update or revise any forward-looking statements, except as required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
United States Advisory: The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the U.S. Securities Act) unless an exemption from the registration requirements of the U.S. Securities Act is available. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.
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