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SOURCE inVentiv Health, Inc.
Breakaway's Sophisticated, Customized Counsel Helps Clients Thrive Amid Change
BURLINGTON, Mass., Sept. 16, 2013 /PRNewswire/ -- inVentiv Health, offering best-in-class clinical, commercial and consulting services, today announced the launch of its new policy arm, Breakaway Policy Strategies, a joint venture between inVentiv and the partners of Mehlman Vogel Castagnetti, a leading, bipartisan lobbying firm.
Breakaway helps companies address the diverse challenges posed by a nationwide healthcare system being reshaped by increasing government regulation and dramatic shifts in the private healthcare market. The firm provides strategic analysis and policy guidance to help healthcare stakeholders navigate transformative changes arising from decisions made daily by Federal and state policymakers.
Changes already underway include the emergence of Accountable Care Organizations, Health Insurance Exchanges and bundled payment arrangements. Additional changes will take effect next year, leading to dramatic expansions of health coverage for American consumers and increasing government influence over hospitals, health plans, employers, doctors, patients, employers, biopharmaceutical firms, and device companies.
"Now more than ever, clients must have a sophisticated understanding of the sweeping changes taking place in America's healthcare system," said Paul Meister, CEO of inVentiv Health. "Navigating this new landscape requires seasoned experts with historical knowledge, a deep understanding of political context, and the ability to anticipate what's next. Through Breakaway, we offer experts with an unmatched level of health policy expertise."
The collaboration expands inVentiv's presence in Washington, D.C. and enhances its broad portfolio of services. For Breakaway, the investment enables an expansion of research capabilities and the addition of top-notch talent.
Breakaway's team combines extensive experience in the public sector with equally deep private sector expertise. The team has extensive know-how in private health insurance markets, private programs in Medicare and Medicaid, and emerging delivery models. Drawing on all this experience, Breakaway delivers unparalleled analysis, strategic solutions and practical advice to guide clients through changes in how healthcare will be delivered, consumed and paid for.
Dean Rosen, one of the nation's top policy experts and former health policy director for Senate Majority Leader William H. Frist, will serve as Breakaway's President and Chief Executive Officer. While working with Frist, Rosen helped shepherd through Congress The Medicare Prescription Drug Improvement and Modernization Act of 2003. He also played a major role in advancing many other major health reform laws during his career in public service, including the Health Insurance Portability and Accountability Act (HIPAA) and The Patient Safety and Quality Improvement Act. Rosen also was Senior VP of Policy and General Counsel at Health Insurance Association of America, and worked on the House Ways and Means Committee. He will continue in his role as a partner at Mehlman Vogel Castagnetti.
"Federal and state policymakers are reshaping the future of healthcare daily," said Rosen. "No matter what policies are written or how healthcare may change, Breakaway understands policy details, knows the decision makers, and is closely connected to the system in which these decisions are taking place."
Breakaway closely tracks policy developments at the state and federal level, providing timely, comprehensive reports, including the Weekly Breakdown Newsletter, the Monthly Affordable Care Act (ACA) Implementation Guide, and in-depth analysis of topics such as Medicare Physician Payment Reform. Beyond comprehensive research, Breakaway's approach to policy analysis provides strategies for the real world, tailored to individual client challenges.
Joining Rosen at Breakaway is Rick Smith, former Executive Vice President for Policy and Research at the Pharmaceutical Researchers and Manufacturers of America (PhRMA) and Vice President for Research and Policy at America's Health Insurance Plans (AHIP). Also on board is Margaret Nowak, former head of policy at Walgreens, Medicare analyst at the Congressional Budget Office and Director at Avalere Health. Colette Desmarais, a former top staffer for Senator Charles Grassley (R-IA) and Deputy Director at AHIP's Public Programs Policy Unit, also is part of the Breakaway team. Complementing this team is an extended staff of lawyers, budget analysts, specialists in government programs, and health policy experts who can swiftly assist stakeholders in navigating new models, rules and regulations.
Breakaway's services complement those of inVentiv Health's premier public relations firm, Chandler Chicco Companies, the world's largest pure-play healthcare communications group. Chandler Chicco recently appointed Heather Gartman as its new D.C. office head. A two-decade public relations veteran, Gartman was previously at Ruder Finn and Zeno Group.
When coupled with inVentiv's clinical, market access, adherence and communications expertise, Breakaway can design strategic solutions to help clients with policies that impact reimbursement, access to products and improved patient outcomes.
About Breakaway Policy
Since the beginning of 2013, Breakaway has been providing analytical support and strategic counsel to Fortune 500 health care companies, as well as health care trade associations and foundations. A health policy joint venture between inVentiv Health and the partners of the bipartisan lobbying firm Mehlman Vogel Castagnetti, Breakaway provides research, analysis, practical advice, and strategic solutions to help a wide range of healthcare stakeholders navigate the transformative changes taking place in today's healthcare market. Breakaway offers health strategy and research for the real world. For more information, visit http://www.BreakawayPolicy.com.
Mehlman Vogel Castagnetti is a DC.-based, bipartisan strategic government affairs firm that helps a wide range of entities, including health care providers, physicians, biopharmaceutical companies, and health plans, achieve their objectives in the nation's capital.
About inVentiv Health
inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to the life sciences industry. inVentiv offers convergent services that accelerate the performance of companies working to improve human life. In 40 countries around the world, inVentiv's 12,000 employees work with more than 550 pharmaceutical, biotech and device companies, as well as companies that see health as a central part of their mission. inVentiv Health, Inc. is privately owned by inVentiv Group Holdings, Inc., an organization sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty Lane Partners and members of the inVentiv management team. inVentiv Health helps clients transform promising ideas into commercial reality. For more information, visit http://www.inventivhealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause our performance to differ materially. These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. Such factors include, without limitation: the impact of our substantial level of indebtedness on our ability to generate sufficient cash to fulfill our obligations under our existing debt instruments or our ability to incur additional indebtedness; the impact of customer project delays and cancellations and our ability to sufficiently increase our revenues and manage expenses and capital expenditures to permit us to fund our operations; the impact of the consummation of any future acquisitions; the impact of any change in our ratings and the ratings of our debt securities on our relationships with customers, vendors and other third parties; the impact of any additional leverage we may incur on our ratings and the ratings of our debt securities; our ability to continue to comply with the covenants and terms of our senior secured credit facilities and to access sufficient capital under our credit agreement or from other sources of debt or equity financing to fund our operations; the impact of any default by any of our credit providers; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability to accurately forecast insurance claims within our self- insured programs; the potential impact of pricing pressures on pharmaceutical manufacturers from future healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; the potential impact of financial, economic, political and other risks, including interest rate and exchange rate risks, related to conducting business internationally; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operation, and achieve the resulting synergies; the resolution of purchase price adjustment disputes in connection with our recent acquisitions and related impacts; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our client base; our ability to comply with all applicable laws as well as our ability to successfully adapt to any changes in applicable laws on a timely and cost effective basis; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the possibility that client agreements will be terminated or not renewed; any potential impairment of goodwill or intangible assets; consolidation in the pharmaceutical industry; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; our ability to convert backlog into revenue; the potential liability associated with injury to clinical trial participants; the actual impact of the adoption of certain accounting standards; and our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Holders of our debt instruments are referred to reports provided to investors from time to time and the offering memoranda provided in connection with the issuance of our notes for further discussion of these risks and other factors.
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