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Maximize returns and mitigate audit risks with automated explant management and warranty claims processes.

Hospitals struggle with manual processes to file warranty claims for medical device explants. Fragmented documentation, incomplete tracking, and cross-department communication challenges cause the process to break down, putting hospitals at risk of missing out on unpaid claims and compliance issues with OIG audits.

InVita’s WarrantyTracker™, co-developed with the Mayo Clinic, provides an automated solution for comprehensive explant management. Offering enterprise-level visibility—from claim initiation to credit realization, WarrantyTracker streamlines the warranty claims process, making it easy for hospitals to maintain compliance, pursue eligible warranty credits for cash-back opportunities, and circumvent potential OIG penalties.

WarrantyTracker

Maximize returns and mitigate audit risks with automated explant management and warranty claims processes.

Hospitals struggle with manual processes to file warranty claims for medical device explants. Fragmented documentation, incomplete tracking, and cross-department communication challenges cause the process to break down, putting hospitals at risk of missing out on unpaid claims and compliance issues with OIG audits.

InVita’s WarrantyTracker™, co-developed with the Mayo Clinic, provides an automated solution for comprehensive explant management. Offering enterprise-level visibility—from claim initiation to credit realization, WarrantyTracker streamlines the warranty claims process, making it easy for hospitals to maintain compliance, pursue eligible warranty credits for cash-back opportunities, and circumvent potential OIG penalties.

Benefits:

  • Provides visibility to all stakeholders on the status and resolution of warranty claims.
  • Simplifies the warranty claims process and addresses federal compliance regulations and requirements.
  • Assures accurate reporting and analytics to support audit reports required by the Office of Inspector General (OIG).
  • Automates the identification of eligible devices for warranty credit.
  • Offers highly configurable capabilities that can adapt easily to warranty claim processes or used as a platform to create an entirely new process altogether.
  • Automates manufacturer updates to provide hospital teams and vendors visibility into the claims process and current information.
Photo hands typing on laptop keyboard with holographic icons overlaid.

Streamlined explant management with built-in compliance safeguards.

WarrantyTracker is the only automated warranty claims solution for comprehensive explant management – from identifying eligible devices to finalizing warranty claim submission. It leverages integrations with device manufacturers, the Food and Drug Administration, Electronic Health Records, and Materials Management Information Systems.

This estimates product return eligibility, tracks product receipt by the manufacturer, and also receives notifications of the credit outcomes. With built-in compliance safeguards, it ensures hospitals avoid potential penalties from OIG audits, streamlining the critical components needed for efficient tracking and reporting of warranty credits for explanted devices.

Explore related Implant & Explant Management solutions.

Only platform to connect the implant and explant lifecycle – tissue, non-biologic medical devices, recalls, explants, and warranty claims.

risk sharing

First-ever clinical software that makes it easy for hospitals with risk-share contracts to pursue risk-share claims following a medical device explant.

interface integration

Integrating critical interfaces into implant and explant lifecycle management software ensures streamlined processes, built-in compliance safeguards, and rapid, efficient information exchange.

Graphic depicting $25-50k.

Pursue $25,000-$50,000 in potentially missed warranty credits.

Graphic depicting 70-80% Reduction Time

70%-80% reduction in time to assess/submit warranty claims and reconcile credits.

Automate claims, maximize cash flow, and minimize audit risk.

Woman sitting in front of laptop viewing charts.

Streamline claims and accelerate cash back with a manufacturer-integrated solution.

Hospitals must follow specific steps to comply with medical device warranty claims procedures: Identify qualifying devices, return the device to manufacturers, identify delayed, approved, or rejected claims from the manufacturer, and receive and apply for warranty claim credits. Without a streamlined process in place, accurately capturing reporting and passing these credits on to Medicare is nearly impossible.

WarrantyTracker simplifies this by integrating with manufacturers, offering hospital staff instant access to vital information. This manufacturer-integrated software efficiently identifies warranty-eligible devices, ensuring hospitals capitalize on every cash-back opportunity.

Maintain compliance with multi-departmental transparency.

Communication breakdown among hospital departments handling device warranty credits is the most common cause of noncompliance, stemming from the challenges involved in pursuing, tracking, and passing on medical device warranty credits to Medicare. Consider the multiple departments involved in the process—billing compliance, revenue cycle, supply chain, accounts payable and clinical departments – each touchpoint becomes a potential area for errors, delays, or oversights.

Initiating and tracking claims, coupled with applying received credits is pivotal. Employing the right automation eliminates inter-departmental guesswork, streamlines processes, and offers transparency throughout the process. This not only ensures accurate claim resolutions but also averts potential compliance penalties and fines.
implant lifecycle
quality-efficiency

Collect claims on risk-share contracts.

A significant amount of money remains unclaimed by healthcare systems that use risk-share contracts because the process of tracking these devices, identifying claim opportunities, and filing for compensation is extremely difficult and cumbersome for hospital personnel. When claims don’t get filed, the risks don’t get shared.

RiskControl for WarrantyTracker, makes it easier for hospitals with TYRX risk-share contracts to pursue risk-share claims following a medical device explant. Easily identify, submit, track, and manage your risk-share claim contracts for optimal cost-saving opportunities available to your hospital. Take control of TYRX risk share warranty credit claims.

If you never missed a risk-share rebate, what could you fund with the savings? Manage your risk-share contracts with minimal resources and never miss an allowable claim under your agreement again with RiskControl.

Track joint replacement revisions for compliance.

With CMS’ 2019 emphasis on joint replacement revisions, especially knee and hip orthopedic procedures, health systems face heightened accountability. This initiative aims to reduce procedure costs for Medicare and Medicaid by spotlighting warranties and urging providers to consider cost-saving options like no-charge replacements.

Not all orthopedic procedures have warranties, so diligent tracking is essential. The OIG will expect clear evidence to show hospitals are actively seeking cost reductions with vendors. Without such proof, hospitals may be perceived as having received undue reimbursements, risking significant financial repercussions and potential fines.

WarrantyTracker’s integration with manufacturers ensures the automation of pursuing, tracking, and passing on medical device credits to Medicare. With the addition of orthopedic devices, WarrantyTracker makes tracking joint replacement revisions streamlined and efficient.
photo of joint

How much warranty credit is your hospital losing because of fragmented compliance processes?

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