Innovative ECMO Concepts Announces Major Growth and Program Enhancement Milestones Following Growth Capital InvestmentSeptember 26, 2023
Innovative ECMO Concepts Announces Major Growth and Program Enhancement Milestones Following Growth Capital Investment
Following capital infusion, leading ECMO program partner has doubled its provision of wholly outsourced ECMO programs and rolled out significant new service offerings
McKinney, TX, Sept. 20 – Innovative ECMO Concepts, the leader in helping hospitals implement and expand life-saving and profitable extracorporeal membrane oxygenation (ECMO) programs, today announced the achievement of a number of key milestones on its growth and service enhancement roadmap. These initiatives were put into motion less than one year ago, following a growth capital investment from 1315 Capital.
Among these milestones, Innovative ECMO Concepts has doubled the number of wholly outsourced ECMO programs that the company operates nationally, while simultaneously doubling the size of its highly experienced ECMO travel team. In addition, the company has rolled out new service offerings to its growing client base, expanded its leadership team, and enhanced support for their talented workforce, all while controlling costs for clients.
“The past year has been one of impressive growth and restructuring at Innovative ECMO Concepts, and I couldn’t be prouder of how far our company and team have come in such a short amount of time,” said John Martin, CEO of Innovative ECMO Concepts. “What’s perhaps most impressive is that this growth has walked hand-in-hand with an up-leveling of service and support for our clients. At the end of the day, stronger ECMO programs save more lives—and that’s what this company is all about.”
Beyond program and travel team growth, additional key milestones achieved over the past year include the following:
- The addition of a new Maintenance of Competency online training program to help hospitals ensure their staff meet ELSO requirements and are ready to perform ECMO at all times
- The addition of new offerings in ECMO financial analysis, including financial modeling of new ECMO programs; financial review of charges, billing and collections; and coding and documentation review
- The addition as a senior strategic advisor of Dr. Ara Balkian, Medical Director at LA Children’s Hospital and Founder of the Pediatric Resource Group, who has unique and deep financial expertise on ECMO reimbursement
- A complete revamping of travel team schedules and compensation, which now offer team members significant flexibility and six months a year off
- The addition of highly skilled new talent in operations, sales and marketing, scheduling and logistics, finance, HR and IT
- The transition to online scheduling software for provider convenience
- The maintenance of 2022 pricing levels for hospital clients, despite record inflation and wage growth
“ECMO has the power to save hundreds of thousands of lives every year and improve the financial stability of hospitals in a time of economic challenges,” said John R. Mehall, MD, MBA, President of Innovative ECMO Concepts, who joined the company in January 2023. “I became a part of this company because I’m passionate about bringing this life-saving, cost-effective therapy to more hospitals and, together, saving more lives. The amount of progress we’ve made on this path in 2023 alone is inspiring, and I’m looking forward to continuing this important growth.”
Innovative ECMO Concepts was founded in 2014 by Hayden Miller, MS, CCP, and Thomas Preston, MS, CCP, FPP, both of whom continue to drive the company’s day-to-day progress toward its mission of supporting the ECMO community and continually improving patient outcomes by way of education, research, and evaluation of current ECMO data.
Innovative ECMO Concepts also launched a significantly enhanced website in August. To learn more, visit www.InnovativeECMO.com.