US Patent and Trademark Office grants Patent to Ventegra for its Acquisition Cost Index (ACI) Price Reimbursement Technology Platform for Prescription Drugs
GLENDALE, Calif .– (COMMERCIAL THREAD) – The United States Patent and Trademark Office (USPTO) has granted U.S. patent number 11,023,979 B2 (June 1, 2021) which covers reimbursement technology based on the costs of the acquisition cost index (ACI) of Ventegra (benchmark price index) until 2034.
Ventegra, a leader in transparent cost-plus pricing methodology, is a new business-class Medical Benefits Manager (MBM) that manages healthcare costs to help customers gain efficiencies, reduce their expenses and improve the overall quality of care.
This recently issued patent covers the ACI technology that powers Ventegra’s reimbursement platform to ensure that Ventegra reimburses pharmacies and bill payers based on current market conditions and drug costs. The technology helps replace archaic reimbursement practices, certifying that customers are billed the same amount that the pharmacy was paid for.
ACI was developed from over 400 years of combined experience in the pharmaceutical benefit industry. Ventegra industry experts recognized that the reimbursement paradigm needed to be reset and subsequently began operating a successful ACI pharmacy network based on this proprietary and now patented technology in 2013.
By updating prescription costs daily and eliminating pharmacy disputes over reimbursement, ACI makes manually derived cost lists obsolete. Usually used by traditional Pharmacy Benefit Managers (PBM’s), these lists are updated arbitrarily with several possible costs for a given drug.
Using its patented ACI solution, Ventegra operates its nationwide network of more than 67,000 pharmacies with greater administrative efficiency, eliminating hidden discrepancies, clawbacks and additional charges that plague the traditional PBM business model.
ACI provides a verifiable track of billing and payment for each claim based on a single, consistent cost for each drug, ensuring payers and patients are never overcharged by hidden margins. Ventegra’s ACI is available daily for evaluation and validation for all participating pharmacies and customers.
The Ventegra ACI complaints handling platform reflects the information available for daily drug cost and market availability every 24 hours, 365 days a year in a fully automated and transparent manner. For example, if a drug were to become available in the market or were in short supply, Ventegra ACI pricing technology would immediately reflect this in the allocation of prescriptions, thus ensuring fair payment for prescription requests for the drug. payer, patient and pharmacy.
Ventegra CEO Robert T. Taketomo, Pharm D, MBA, said, “Ventegra is the country’s first and largest provider of medical benefits, which is not a PBM or group purchasing organization, compare to our Patented Acquisition Cost Index (ACI) which provides the real-time data needed to accurately reimburse pharmacies based on current market conditions and drug costs. This system gives our customers the assurance that what they are billed is what was paid at the pharmacy, and the customer and pharmacies have access to this cost information to validate each transaction.
Taketomo adds, “We are delighted that the US Patent Trademark Office has recognized the uniqueness of our Ventegra ACI technology and granted this patent. The patent strengthens Ventegra’s differentiation among its competitors and offers the protection of our ACI product for a sustainable competitive advantage in the marketplace, further strengthening Ventegra as a ‘force for good’ and a leader in transparent pricing methodology and pricing cost plus. ”
Ventegra uses innovative programs and products to ensure appropriate use of prescription drugs while reducing costs for our customers. As Medical Benefit Manager (MBM), we are a new model of professional-class healthcare that helps clients become more efficient, lower costs and improve the overall quality of care. Our offerings include innovative and cost-effective solutions designed for medical groups, healthcare systems, self-insured plans, TPAs, government entities, brokers and consultants, and non-profit organizations. Ventegra’s state-of-the-art MBM model, coupled with a solid foundation of corporate stability and community engagement, has made our company a powerful force in the healthcare industry since its inception in 2004. We are part of a Elite level of B certified companies who hold each other accountable for maintaining a balance between purpose and profit. www.ventegra.com