Dr. Philipp Leucht at NYU Langone Health has worked to improve outcomes for high-risk hip fracture patients by addressing all aspects of their care.
The French spine company Implanet has executed multiple device company partnerships to expand its portfolio. We asked the CEO about lessons he’s learned and advice he would give to other orthopedic executives.
As orthopedic executives think about 2023 and beyond, we provide perspective and advice about extensive issues that current and potential hospital customers face.
Nanochon is targeting a $2 billion market in the U.S. with its Chondrograft implant for cartilage repair and replacement.
Dr. Laith M. Jazrawi, Chief of Sports Medicine at NYU Grossman Medicine, discusses cordless arthroscopy and the promise of orthobiologics.
We round up third-quarter commentary from orthopedic executives as they focus on market expansion, technology, ASCs and staffing.
Dr. Denis Dufrane, CEO and Co-founder of Novadip, discussed how the company’s products accelerate the healing of bone defects and injuries.
Stéphane Lavallée wants to increase access to robotic-assisted surgery for every company and across procedures with an open robotic system.
ORTHOWORLD Experts talk you through market forecasts, company sales and key trends.
We spoke with Alok Sharan, M.D., about why spine surgeries are moving to ASCs and what players in the spine market should expect.
We spoke to the company about its progress in untangling itself from Zimmer Biomet, OUS markets and ZimVie’s medium-term priorities.
We spoke with neurosurgeon Samuel Browd, M.D., Ph.D. about the newfound importance of artificial intelligence in orthopedics.
We met Dr. Rothrock through his use of Stryker’s Capri Expandable Corpectomy Cage, and asked for his thoughts on the state of spine implant technology.
Randy Roof, Founder and CEO of Cutting Edge Spine, built his company believing he could do better for patients, surgeons and the industry.
Companies set their sights on enabling technology, ASCs, personalized procedures and implants, registries and director-to-consumer marketing.
We spoke to ZimVie CEO Vafa Jamali about the new opportunities and finding the right areas of the spine market to drive innovation.
Implant companies are headed for self-imposed and avoidable failure with their patient engagement software.
What are the most significant opportunities and challenges for the orthopedic industry in 2022? Regulatory commentators weigh in.
The dust is starting to settle about what may be long-term in the orthopedic manufacturer-to-hospital supply chain and what may have been an anomaly.
A few months ago, Gary Miller, Ph.D., gave a commencement speech to the University of Florida’s graduating engineers. It was…
Jean-Paul Burtin was attracted to orthopedics by its possibility for innovation. The enticement did not disappoint.
Obstacles like global supply chain issues and staffing shortages are affecting every player in the market, to varying degrees.
New products and technologies, new global opportunities and competitive hires are top of mind for these leaders.
Monogram Orthopedics seeks to personalize joint replacement through a combination of innovative implants and robotics.
The oversubscribed $12.5 million Series D round sets Catalyst to expand product lines and build out its infrastructure to support growth.
While autologous live cell therapies are not new, Royal Biologics is creating a unique value proposition through its growing ALC portfolio.
Technology updates, the competitive landscape and surgeon and patient interest are pushing orthopedic companies to speed robotic iterations and innovations.
Second-quarter commentary from ortho executives focused on acquisitions, knee replacement sales performance and enabling technology’s impact.
The differences between the hospital and ASC setting are vast and present a learning curve for those managing, operating in and selling to outpatient centers. However, the growth opportunity connected to ASCs is significant for those companies that examine the big picture and build foundational relationships.
As businesses mature and seek to expand, exporting may become a viable option. Introducing new or existing products to other locations seems like an obvious step for companies wanting to increase their customer base.
OMTEC held a keynote that delved into the state of the orthopedic market and what lies ahead for volumes and technology.
OEM and contract manufacturer executives share that businesses can prepare for disruptions by fostering resilient plans, leadership and teams.
Often, when a business reaches a certain level of maturity leadership begins to think about expansion beyond their original products or their home market. But what does that growth look like, and how might you accomplish it?
Mr. Lin has led the U.S. operations for United Orthopedic for more than a decade. He has learned that trust and people are the most critical factors in a successful business.
These companies recently received notable FDA 510(k) clearances, funding or launched products and studies. We highlight robotics/digital, spine and orthobiologic applications.
ZygoFix zLOCK technology facilitates a percutaneous approach to lumbar fusion. By fusing the facet joint with a small but rigid titanium implant, surgeons can stabilize the back and bring on pain relief in a less invasive way.
It took focus and persistence to reach regulatory clearance in the U.S., but Dr. Schwartz knew he had a revolutionary product.
Historically, orthopedic and spine device vendors have focused largely on the surgeon as a primary customer. From the hospital’s perspective,…
Culture is the operating environment within an organization. It speaks to leadership, relationships, expectations and values that drive us to our goals.
OrthogenRx markets GenVisc 850 and TriVisc biologic products. OrthogenRx executes at a level of efficiency that allows them to invest in pricing programs.
Consider new geographies early in your worldwide expansion based on ease of regulatory and reimbursement processes.
Executives from Stryker, Smith+Nephew and Medtronic offered advice to smaller companies that seek to be acquired and shared their own perspective on their strategies.
In finalizing its payment rules for 2021, the Centers for Medicare & Medicaid Services made multiple announcements that could impact where orthopedic care is delivered.
The Ogmend Implant Enhancement System acts like a wall anchor for bone to help enhance fixation and achieve stability when screws have lost fixation.
Dr. Alejandro Badia, Hand and Upper Limb Surgeon, shared perspectives on healthcare, vendor engagement and pursuit of clinical and business leadership and influence.
A look into three companies outside the U.S. in the $100 million to $300 million revenue bracket: LimaCorporate, Medartis and AK Medical.
Matt Woods, Founder of Ortho Consulting Group, touched on three key points as the European orthopedic market adapts in these unpredictable times: the cancellation of industry meetings due to COVID could slow the pace of innovation, EU Medical Device Regulation (MDR), and accelerating M&A activity.
How is artificial intelligence shaping orthopedic technology? While the timeline for broader acceptance of AI in orthopedics is uncertain, its vast scope and power are already making an indelible impact.
Startups must focus very tightly on a specific target market and value proposition to have the best chance of avoiding the doom loop of medtech innovation.
Historically, total ankle replacements have had low success rates compared to the more popular knee, hip and shoulder replacements.
CEO Nick Deeter says that 95% of children continue to receive adult orthopedic products that were never intended for them nor cleared by FDA for use in children. WishBone seeks to change the paradigm of pediatric orthopedics with its child-focused implants and sterile packaged disposable kits.
Eeric Truumees, M.D., First Vice President of NASS’ Board of Directors, is optimistic that the online virtual annual meeting event in October will allow attendees to benefit from broader input in smaller doses.
GreenBone Ortho uses technology that mimics nature to create a long-term solution using rattan, a type of wood, as the base material.
The impact of COVID-19 is vacillating between acute and chronic. There is both need and opportunity for a dedicated ambulatory strategy for OEMs.
Mr. Johnson founded Zavation, a spine company, and Superior Polymers, a PEEK manufacturer. He credits the foundational business principle to his success in orthopedics.
As the U.S. contends with the continued spread of COVID-19, hospitals maintain a grim outlook for 2020 and into 2021.
X-ray vision is typically associated with B-level science fiction. But it’s also a fairly accurate description of what surgeons can experience while using Augmedic’s xvision spine system.
Device companies need to understand that the surgeons they serve are on the cusp of significant change.
Surgeon entrepreneurs launch the Journal of Orthopaedic Experience & Innovation that highlights clinical, economic and industry innovations.
Marshall Steele, M.D. shares insights on orthopedics and on how the COVID pandemic may change relationships and contracting strategies.
The company has developed a number of fundamental technologies to eliminate the cables that are currently endemic to endoscopic procedures.
Preoperative planning, surgical instrumentation and bony ingrowth are advancements that surgeon Alan Davis, M.D., says are a must for future total ankles.
Mr. Francesco Siccardi opens up about market opportunities, headwinds and strategies for Medacta while dealing with the COVID-19 outbreak.
In this video, trauma surgeon Peter Althausen, M.D., says COVID-19 will shift procedures to outpatient settings and place scrutiny on implant utilization.
Tiger Buford talks about changes to technology and the roles of product development and sales and marketing post-COVID-19.
Mr. Bihl feels that orthobiologics are in a unique position to address unmet needs that remain prevalent despite advancements in traditional orthopedic products.
Joint replacement surgeon Vinod Dasa, M.D., says there will be a heightened focus on eliminating waste and redundancies, especially in the “last mile” of the supply chain.
While the spine industry has focused on 3D printed cages, enabling technology and minimally invasive surgery, it has forgotten a critical priority: infection prevention, says Aakash Agarwal, Ph.D., Director of Research at Spinal Balance.
In anticipation of leveraging conversations with surgeons at AAOS’ Annual Meeting, this column focuses on major trends reshaping the device company and provider relationship. Each of these trends represent opportunity for orthopedic companies.
In moving to the provider side of orthopedics after spending decades in industry, Doug Leach has learned a valuable lesson: Partner with providers. Not just the surgeon.
Benjamin Reinmann, M.D., says that the joint replacement market is moving away from the implant toward services driven by technology and keeping value-based patient care on the radar.
Spine surgery faces utilization management challenges that are influencing patients’ access to care and surgeons’ abilities to navigate the current payor environment. Device companies can better serve surgeons and their patients by remaining abreast of changes to the payor climate.
Many of the lessons that Tom Afzal has applied throughout his career he learned while working at American Hospital Supply Corporation—one of the largest medical device companies in the ‘70s-‘80s—his first professional position after college. As part of a management path program, Mr. Afzal was required to work in many functional areas of the company—sales, marketing, finance, production, R&D, quality, etc.
For years, orthobiologics and other forms of regenerative medicine have sought to mimic and enhance the body’s natural ability to heal itself. Carmell Therapeutics has a new approach to that end-goal. The company’s proprietary process is designed to bind and cross-link regenerative factors in lyophilized platelet-enriched plasma into solid and semi-solid plasma-based materials to accelerate healing in bone, tendon and wound care.
Over the last five decades, the orthopedic career of Hendrik Delport, M.D., Ph.D. has evolved from surgeon to researcher to teacher to innovator. He says further advancement in total knee arthroscopy requires a change in surgeon performance, not in device design.
Patrick Vega’s quarterly column is intended to prompt orthopedic device company thinking beyond price by better understanding the provider environment and by pursuing provider partnerships that convert one-time sales into long-term strategic and trusted partnerships. He explores core elements of hospital value analysis and purchasing, and ways that your sales channel can successfully navigate the processes.
A 2017 physician survey revealed that 86% of offices’ prior authorization activities had increased significantly over the last five years, with the average office spending two full workdays to receive a prior authorization. Kim Norton, Vice President of Reimbursement at Simplify Medical, lends insights on how this trend affects the spine market.
Not everyone can credit a decades-long successful career to their dog. But Frank Bono, CTO and CO-Founder of Paragon 28, Inc. does exactly that. He shares what he learned at startups and large orthopedic corporations, offers advice for the next generation of new hires and shares his thoughts on extremities reconstruction, the last orthopedic frontier.
X-BOLT Orthopaedics addresses the issue of screw cutout in hip fracture repair with technology that replaces the lag screw for femoral head fixation. Studies indicate that the system significantly reduces the reoperation rate.
Marty Altshuler and Rick Henson were given an opportunity to acquire spinal products and transition from distributorship to a full line implant manufacturing company. They made the deal and founded ChoiceSpine back in 2006.
The spine market’s evolving reimbursement landscape can be hard for device companies and surgeons to navigate. While at NASS, we asked reimbursement expert Kim Norton for a high-level view of the reimbursement shifts taking place today. Ms. Norton is Vice President of Reimbursement for Simplify Medical and serves as a consultant, including in reimbursement and payor relations for Aesculap.
Magnus Rene has been part of the additive manufacturing revolution in orthopedics. Now he serves on the Board of Directors for Integrum, developer of the OPRA osseointegrated prosthetic implant system.
Surgeons were clear: they are interested in leveraging innovations in materials, robotics, AI and wearables for the benefit of their patients and their practices. They will look to the data to measure progress.
Robotics remains a hotly-discussed topic amongst orthopedic surgeons. OMTEC® 2019 provided a stage for the continued debate during the surgeon keynote, with active robotic users calling for technology advancements and a non-user recommending that adoption be based on data and outcomes.
The growth of robotics, additive, outsourcing and mid-sized device companies and contract manufacturers are among the main narratives that we-like Mr. Madani-expect will shape industry dynamics in the coming years.
David Hovda, CEO of Simplify Medical, shares how he got from the U.S. Navy to orthopedics, lessons he learned along the way andhis outlook for the spine industry.
In this fourth installment of his quarterly column, Patrick Vega of Vizient Advisory Solutions provides a description of ambulatory settings and strategies, and suggests ways that device companies can capitalize on the shift from inpatient surgical settings to hospital outpatient departments, ASCs and outpatient sites of care. Contributors to this article hypothesize that device companies that better understand the outpatient setting can more effectively adapt their products, services and support to meet customer needs.
Ortho Spine Partners’ business model is new to us. Using complementary perspectives from device company and hospital purchasing sides as a team approach, they serve as hired strategists and executors for product commercialization and corporate activities. Orthopedics is a relationship-driven industry, and the modern sales process requires different relationships. OSP’s leadership is betting that its surgeon, hospital, sales rep and device company contacts, as well as its out-of-the-box thinking, can be leveraged to provide small partnering companies with national scale typically not attainable by young companies.
DePuy Synthes announced the Anterior Advantage Matta Method in 1Q19. The namesake of the program, Joel Matta, M.D., is a surgeon at The Steadman Clinic, Co-founder and Chairman of the Anterior Hip Foundation and a pioneer of the anterior approach. He began using the anterior approach in the late ’90s and has remained dedicated to the technique, noting that it results in tissue preservation and shorter recovery time. More than two decades later, he remains committed to teaching and advancing the anterior approach.
Future-minded orthopedic and spine surgeons will advise industry stakeholders and the manufacturing community at OMTEC® 2019.
The global orthopedic technology and manufacturing community will convene for OMTEC® 2019.
As hospitals, health systems and their associated provider environments become ever more complex, traditional approaches to establishing relationships, selling products and servicing accounts have become less effective. OEMs that endeavor to both understand the customer environment, in its full continuum, and meaningfully invest in a partnership with providers can be rewarded with market share growth, reciprocal value and more permanence in their relations with providers and IDNs.
In January, The Hip Society and The Knee Society in partnership signed an agreement to acquire Current Concepts in Joint Replacement. For nearly 40 years, CCJR has educated thousands of joint replacement surgeons around the world, giving them a platform to debate surgical techniques and discuss trending topics of the day-conversations that have advanced orthopedics. The bi-annual conference will hold its Spring Meeting from May 8-11 in Cleveland, Ohio, and is expected to host surgeons, device companies and contract manufacturers.
Dr. Bob Poggie reflects on trends in materials to increase durability of articulation and reliability of implant fixation; design solutions to improve kinematics; computer-driven advances in design and manufacturing and surgical tools to increase accuracy, reliability and efficiency of procedures.
The world of foot and ankle is vibrant and full of opportunity to solve real problems. Honesty in implant improvement must take place at the design stage. Foot and ankle has the trifecta of implants. Depending on the case, I need hardware, soft tissue reconstruction and a biologic enhancer. This is unique in orthopaedics, and the company that wins recognizes the problem to be solved in its totality and not just a piecemeal approach.
What is the size of the Japanese orthopedic market and its subsegments? What market forces should companies consider in 2019?What are the orthopedic technology buzzwords in Japan today?
Companies often treat the Japanese market as an afterthought-after they’re established in the U.S. and Europe, they’ll decide what it takes to enter Japan. But as the U.S. market shifts to value-based care and as hospitals consolidate suppliers, and as the EU implements the stricter Medical Device Regulation, the Japanese market may look more attractive.
Dr. Martin Roche: “The surgeon still wants to operate, but if this technology makes the procedure more consistent, efficient and generates improved outcomes, the patients will request it and surgeons will utilize the data to potentially develop the next surgical procedures and personalized implants.”
Extremities, sports medicine, digital health and the hospital supply chain remain attractive areas for orthopaedic innovation, according to investors who spoke during this year’s Musculoskeletal New Ventures Conference. This seems like a natural course, with extremities and sports medicine being high-growth segments of orthopaedics and innovations in digital health and supply chain routinely mentioned as solutions to complex industry challenges. The sentiment that we took away from the discussion was optimism about the number of investment opportunities available, and about orthopaedics as a whole.
The forthcoming EU Medical Device Regulation will impact your supply chain, both in manufacturing and distribution. You must talk with your partners now to ensure that you possess the information you need from themand they from youto meet regulatory requirements, your timeline for CE Market Approval and critical considerations for audits. Mike Wolf, Director of Solutions Delivery at Maetrics, outlines some talking points for you and your suppliers.
To measure and improve patient care, NASS has launched a diagnosis-based clinical data registry to track outcomes. The web-based platform will allow healthcare providers to collect and analyze their spine care data and compare it to the de-identified data in the entire registry.
The OMTEC 2018 Closing Keynote panel of surgeon entrepreneurs and executives fielded an audience question on ways that surgical techniques will change over the next five to 10 years, and what might that mean for new products. We thought it was great question with insightful answers, which we have recapped here.
We need to address the real problem. To orthopaedic surgeons on the OMTEC Closing Panel, the problem is delivery of care. Current instrument options, according to them, lead to changes in surgical planning, downtime between surgeries, significant cost assumed by the hospital or surgery center and inventory management conundrums.
The OMTEC 2018 opening Keynote Panel offered perspective on hospital actions and priorities while addressing critical industry topics including pressure from public and private payors, bundled payments, value analysis committees and outpatient surgeries.
Startup company Micro C Imaging is entering the fluoroscopy space by developing a hand-held x-ray and digital imaging device no larger or heavier than a digital camera.
In the field of orthopaedic surgery, over the last 100 years we have migrated from therapies based on limb removal to joint replacement to tissue repair, and we are beginning to see clinical solutions for tissue regeneration. These four Rs represent the history and future of clinical orthopaedics.
At AAOS, we sat down with the CEOs of Bioventus and Histogenics to ask about opportunities that their companies are embracing, as well as the health of the orthobiologics market. Both mentioned advancements in therapies demonstrated through clinical trials and outcomes, and both discussed the importance of keeping younger, active patients healthy and mobile. Here we recap a portion of those conversations.
Patrick Sweeney, M.D., is a spine surgeon with a special interest in minimally invasive surgery. He is also Founder and Medical Director of the Center for Minimally Invasive Surgery, an ASC, as well as an inventor/entrepreneur, and founder of a device company and an eHealth entity. We spoke with him about his diverse orthopaedic endeavors.
Orthopaedic device manufacturers’ ability to gain market share in the total knee and hip reconstruction spaces will be dependent upon their response to the shift of procedures to ambulatory surgery centers an uptick in bundled payments and any or all measures focused around cost. That was the message we took away from our conversations at the American Academy of Orthopaedic Surgeons Annual Meeting.
The changes in hospital purchasing methods reflect a multitude of stakeholders who must learn to work together to truly create value for the system, by realistically assessing needs, features, volume and durability when making purchasing decisions. It simply cannot stand on price alone. Like anything else, if surgeons want a voice in the process, they need to step up and become involved in these new processes and committees to ensure that their patients best interests are represented equitably.
Two of the greater challenges that trauma surgeons face today are an increased number of complex fractures and complications from fractures. Michael D. McKee, M.D., Program Chair of the Annual Meeting, outlined four trending surgeon issues that device companies could consider for product enhancement.
Topics that resonated in exhibit hall conversations and surgeon presentations at NASS 2017 were advancements in additive manufacturing, replacement or coating of traditional PEEK and the adoption of robotics and navigation. We chose five of our conversations to recap, including Mazor, Stryker and Zimmer Biomet, because they speak to the aforementioned technology trends and give insight into future product launches.
In his nearly 30 years with MTF, Bruce Stroever has watched the entity grow to more than 1,100 employees and over $400 million in annual revenue. An ORTHOWORLD Member, we asked Mr. Stroever to share how he has experienced success.
We spoke to Bone Solutions CEO, Drew Diaz, about topics ranging from data collection to struggles for startups and the future of orthopaedic technology.
Minimally invasive surgical (MIS) products are a staple of todays spine company portfolios. In anticipation of new devices to be launched at the NASS Annual Meeting, we asked James F. Marino, M.D., a thought leader in MIS and founder of companies NuVasive and Trinity Orthopedics, about the technologies.
An effective and efficient pathway to customers is important everywhere in orthopaedics, but perhaps nowhere is it more critical and complex than in China as the country moves to a Two Invoice policy. Manufacturers must prepare to eliminate the number of layers in their distribution channel.
The complexity of reimbursement may be great, but the burden may be lessened if you begin with the end in mind and know what you’re up against and make good choices throughout the process.
The influence of hospital VACs has created a market access risk that you must consider when assessing new technologies-before product development begins. How do you reduce that risk?
Device companies are prioritizing supply chain alignment to achieve company vision, leverage expertise and obtain significant cost savings. For insight we turned to Jeoff Burris and Ken Jones, two thought leaders in this area, to show us how to accomplish these objectives.
The Trillennium Man was made with 3D scans of knees, hips and shoulders compiled into morphs that show the change in joint shape over the last 350 million years, and what joints might look like 4,000 years from now.
Proper implementation post-acquisition-close will allow your supply chain to deliver immediate and long-term value, and avoid integration delays and disruptions.
AAOS President Gerald R. Williams Jr., M.D., offers perspective on prominent areas for near-term technology advancements. His five-year outlook aligns with hot topics of recent years.
The U.S. hospital landscape steadily continues to be shaped by consolidation that is forced by competition, declining reimbursement and public and private payor cost and control measures. As these trends are expected to endure at least through the next decade, it’s imperative that you understand what your hospital customer base will look like several years from now.
The Chinese government has prioritized medical device development, as well as local and international investments by domestic device companies. Whether you’re a leader in the Chinese market or thinking of entering, its important to understand the trends and government initiatives shaping the country’s orthopaedic industry.
A shifting healthcare landscape in the U.S. presents opportunities for early-stage companies, who can use these tips to set up proper marketing and distribution channels right from the start.
The primary responsibility of the supply chain team post-M&A is the assurance of uninterrupted upstream and downstream product supply. These essential steps will assist you in identifying supply chain risk and developing a plan to minimize that risk.
How device manufacturers, surgeons and insurance companies are shaping the future of sustainable medicine.
Avoid disruptions in customer service and financial performance by reviewing the people, processes and supporting systems of upstream and downstream supply chains.
Data collection is paramount to the success of any orthopaedic device. What happens to the much-coveted postmarket data/initiative during and after a merger or acquisition? We posed this question to Vicki Anastasi, Vice President & Global Head, Medical Devices & Diagnostics Research with ICON plc.
In 2015, NASS conducted a survey taken by nearly 650 Members in the U.S. to support a clearer understanding of its Members practice settings.
To thrive in the healthcare environment of tomorrow, orthopaedic device companies will need to operate within a greater portion of the supply chain, assisting upstream and downstream customers in finding operational value. This will require companies to forge stronger relationships, focus on internal efficiencies and launch services, not just devices.
ORTHOKNOW interviewed the surgeon inventor of N-force’ to understand his take on the trauma market and the future of implant delivery.
The use of computer-assisted surgery systems that incorporate robotics, surgical planning and navigation have the potential to bring reproducible results to orthopaedics through imaging, alignment and guidance tools that control surgical variables. But, will hospitals pay for these technologies?
Post-surgical infection control is a priority in the reduction of complications, revisions and costs. It’s a topic of importance along the spectrum of development, from the research level, to start-up, through to the industry’s largest companies.
The arthroscopy/soft tissue segment reached sales of $4.5 billion in 2015, a four percent increase over 2014, according to ORTHOWORLD estimates. Growth in the market is buoyed by several factors: strength of the main players, smaller players expanding their portfolios to complement other product lines, industry focus and surgeon adoption of minimally invasive techniques and surgeons’ push to drive new technologies and techniques in ligament and tendon care and repair.
As declining margins squeeze every facet of orthopaedics and reimbursement undergoes yet another change, independent surgeons seek to diversify their practices to protect existing revenue and develop new streams. Some are aligning with or opening an orthopaedic urgent care center. In turn, the growth of orthopaedic urgent cares has attracted interest from other industry stakeholders, like major hospital systems and device distributors.
Companies that achieve success in their home market are frequently compelled to expand to international soil to take advantage of desirable demographics and less competition. However, selecting the right market for your product, and setting up an efficient and effective sales and distribution network, can be daunting tasks – especially for a young business.
The concept of value continues to dominate conversations in the orthopaedic industry. Brett Sanders, M.D., an orthopaedic sports medicine and shoulder surgeon, created Tensor Surgical to respond to industry trends.
ORTHOWORLD Members of all stripes-providers, OEMs and suppliers-say that they’ve been impacted by complexities in the reimbursement system. One theme-that is not new, but a necessary reminder-is that the sooner a company includes reimbursement in their commercialization preparations, the better-armed they are for market entry.
The advent of the Centers for Medicare & Medicaid’s Comprehensive Care for Joint Replacement (CJR) program fueled AAOS Annual Meeting conversations regarding the best response by hospitals, surgeons and device companies to bundled payment reimbursement models, including those that extend beyond joint reconstruction.
The capital associated with instrument sets is significant and, to some companies, somewhat unknown once inventory enters the field. As orthopaedic companies seek to speed their service to hospital customers and cut waste from operations, a greater focus has been placed upon inventory management.
To offset the shifting economic and regulatory environment, Bill Tribe, Ph.D., partner at consulting firm A.T. Kearney, foresees the need for companies to abandon traditional business models and begin to develop and implement distinctive, proprietary ones. Those will be based on the interplay of every facet of an organization, from executives to engineers to sales staff to supply chain managers.
Amid efforts to lower costs and increase value in the orthopaedic industry, sales and purchasing models are shifting. This is exemplified by the introduction of rep-less approaches, technology-driven inventory models and the evolving role of value analysis committees.
Erik Kubiak, M.D., an orthopaedic trauma and adult reconstruction surgeon, co-founded CoNextions Medical to treat tendon repairs differently.
Peter Bonutti, M.D., an orthopaedic joint reconstructive surgeon and inventor, discussed his many entrepreneurial endeavors and experiences in product and practice development.
Virak Tan, M.D., an orthopaedic hand surgeon, decided to invent his own external fixator for the finger after seeing patients in need of an improved technology.
Price pressure will continue to drive the orthopaedic industry’s narrative in coming years as cost containment measures from public and private payors trickle through the healthcare supply chain. Executives at OMTEC 2015 offered key insight on overcoming industry’s challenges.
Mobile communication devices, particularly smartphone and applications, have already changed how we handle many aspects of our lives, such as personal finance, shopping, travel and entertainment. They are also radically changing the way we think and make decisions about our healthcare.
Due to the rapidly changing product development landscape and the need to protect one’s own IP, as well as the increased difficulty in monitoring competitive product information, it is critical for all companies to establish and properly train their own IP police force if they want to enforce their own protected inventive designs.
Rarely does one company have the resources necessary to produce all of the products required to satiate the diverse demands of healthcare providers. Private labeling is one outsourcing tool for potential to meet customer needs.
Robert S. Bray, Jr., M.D., charged spine companies to make improvements in the following areas.
This article highlights the typical process of buying a company, with specific context for buyers and sellers who may be new to the process or are interested in picking up a few tips.
To better understand the expanding orthopaedic markets, the OMTEC 2014 Keynote CEO Discussion sought perspective on the trends in developed and developing countries. Here are their thoughts.
To succeed in the new market reality, manufacturers must be aware of the financial pressures and craft strategies to help surgeons and hospitals minimize costs and improve patient care.
Orthopaedic device companies that can demonstrate innovation in design and delivery, as well as efficiency in use and cost, will be best-positioned to succeed.
Large, cash-rich orthopaedic device companies have increasingly opted to acquire companies and product lines that allow for scale over focusing resources on in-house development.
Orthopedic product development must walk hand-in-hand with focused, timely intellectual property (IP) due diligence.
An integrated approach to commercialization maximizes the value of an idea and minimizes the monetary risk, says Stuart Lindquist of Kapstone Medical.
Device companies that adapt their strategy and approach have the opportunity to address pricing pressure head-on.
A more expansive view than the traditional IDE paradigm allows for greater benefits in the overall life of a medical device firm.
Orthopedics will be more challenging in the future than in the past, but there are opportunities to do well.
American medicine today is truly in crisis, but not for the reasons most often reported.
Your best chances of creating exponential value are found when you invest your own resources to more fully develop the idea before shopping it around.
Hospital executives and administrators are entering the sales equation and must be part of the device company’s product positioning strategy.
Conceiving the idea is just the first step. Deciding how far to take the idea on your own is a challenge, no matter how much experience you may have.