Medtronic Launches Low-cost Hip And Knee Program, Forecasts Surgical Robot Revenue By Fy 2019
Medtronic Launches Low-Cost Hip and Knee Program, Forecasts Surgical Robot Revenue By FY 2019 Medtronic expects "material revenue" from its new robotic surgery business in fiscal year 2019, company executives said during Medtronic's investor day presentation held recently. They also unveiled plans to offer value-based hip and knee replacement devices, and confirmed submission for FDA approval of the first "hybrid closed loop" insulin pump. Bryan Hanson, president of Medtronic's Minimally Invasive Therapies Group (MITG), said 150 employees are now working on the companys surgical robots, which initially will roll out in India, reports Reuters . Medtronic is looking to compete with robotic surgery pioneer and leader Intuitive Surgical, the Verb Surgical joint venture of Johnson & Johnson and Verily, and a growing list of new players. Hanson said Medtronic's value proposition is lowered costs for surgical robots, which are generally more expensive than conventional surgical methods. "It is costly today. We are going to be looking to eliminate that as a barrier," Hanson said during the presentation, according to Reuters. Medtronic is utilizing the same approach for its new orthopedics venture: a low-cost knee and hip replacement portfolio tied to the new bundled payment model by the Centers for Medicare and Medicaid Services (CMS), designed to slash costs to these most common surgical procedures, which cost Medicare about $7 billion in hospital bills each year. The plan encourages hospitals to use less costly implants that result in target clinical outcomes, such as reduced readmission rates or shortened recovery duration. We dont consider these to be value products at all, said Geoffrey Martha, president of the Restorative Therapies Group, reports the Star Tribune. These Continue reading >>
Press Release | Newsroom | Medtronic | Medtronic Launches Orthopedic Solutions Business To Help Providers Deliver Outcome-focused Care And Succeed In New Value-based Bundled Service Models
Medtronic Launches Orthopedic Solutions Business to Help Providers Deliver Outcome-Focused Care and Succeed in New Value-Based Bundled Service Models Orthopedic Solutions Offers Comprehensive Services for Joint Replacement Episodes of Care, Including the Launch of a Total Knee Arthroplasty System DUBLIN and DALLAS - Nov. 10, 2016 - Medtronic plc (NYSE: MDT) today announced the launch of Medtronic Orthopedic Solutions, a comprehensive offering for total joint replacement episodes of care designed to drive clinical and economic outcomes. This offering is in response to the high costs associated with hip and knee replacements, along with the growing emphasis on improving patient outcomes, and specifically addresses the Centers for Medicare & Medicaid Services (CMS) recently implemented Comprehensive Care for Joint Replacement (CJR) model - a bundled payment initiative that holds approximately 800 hospitals accountable for the quality of care they deliver for hip and knee replacements. Medtronic Orthopedic Solutions offers a consultative program designed to help providers meet CJR requirements by reducing system costs while addressing patient satisfaction and outcomes; it will support providers from pre-surgical planning through the 90th day post discharge. In addition, Medtronic is launching a value-based total knee arthroplasty system at the American Association of Knee and Hip Surgeons Annual Meeting (AAKHS), which is currently taking place in Dallas. The Total Knee Arthroplasty System will be widely available in the first half of 2017. "Medtronic is here to help speed the adoption of value-based healthcare in orthopedics by helping hospitals drive down costs while keeping outcomes top of mind," said Geoff Martha, EVP and president of Medtronic Restorative Therapies Gro Continue reading >>
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Is Medtronic Developing A Total?
"The CMS proposed bundled payment initiatives mandate for hip and knee replacements could have an impact on the company's business. Medtronic doesn't currently have hip or knee replacement lines, but similar initiatives could spread to other specialties. Participating hospitals are at risk for the cost and quality of joint replacement surgery and post acute care for 90 days after surgery. "As bundled payments take hold, we expect to offer unique comprehensive solutions to healthcare providers, encompassing our devices, associated diagnostics and home-based patient monitoring programs, all wrapped in risk sharing business models," Mr. Ishrak said"" "The CMS proposed bundled payment initiatives mandate for hip and knee replacements could have an impact on the company's business. Medtronic doesn't currently have hip or knee replacement lines, but similar initiatives could spread to other specialties. Participating hospitals are at risk for the cost and quality of joint replacement surgery and post acute care for 90 days after surgery. "As bundled payments take hold, we expect to offer unique comprehensive solutions to healthcare providers, encompassing our devices, associated diagnostics and home-based patient monitoring programs, all wrapped in risk sharing business models," Mr. Ishrak said"" Medtronic is not developing a "total". Medtronic is not even getting into the hip and knee game. There is no growth in hips and knees. you actually sound like an idiot with that response. Just because pricing pressures are constantly here doesn't mean their is no future growth in hip and knees. If I were to look up I think the forecast for 2020 would be a much higher market in dollars. Volume is going to increase and help fight price decreases. Pricing of joints were just recently o Continue reading >>
Cervical Systems - Cervical Disc Replacement - Artificial Cervical Disc | Medtronic
Cervical Disc Replacement Treatment Options REPLACING A CERVICAL DISC WITH AN ARTIFICIAL CERVICAL DISC Healthy spinal discs provide a cushion and a joint between your adjacent vertebrae. When your discs deteriorate, the space between the vertebrae narrows, compressing and pinching nearby nerves. To relieve the pain and discomfort caused by the compression, a surgeon can remove and replace the collapsed or herniated disc with an artificial disc that mimics a healthy disc providing both cushion and joint. The replacement and rebuilding of the joint with an artificial disc is termed cervical disc arthroplasty or cervical artificial disc replacement. Artifiical disc Replacement at Two Levels, Using the Prestige LP Cervical Disc WHY DOUG CHOSE A CERVICAL ARTIFICIAL DISC REPLACEMENT "I learned about the Prestige disc visiting a couple of the physicians at teaching hospitals in Chicago." Cervical artificial disc replacement is a type of joint replacement procedure.An artificial disc, such as the Prestige LPTMcervical disc made by Medtronic, is placed between two adjacent cervical vertebrae to replace a diseased cervical disc. It is designed to maintain the distance between two adjacent cervical vertebrae. Two Prestige LP cervical discs can be used to replace two diseased cervical discs that are next to each other and require surgery. Dr. Jack Zigler uses a bone model to describe cervical arthroplasty, also known as cervical disc replacement. Dr. Zigler is with the Texas Back Institute in Plano, Texas. The Prestige LP cervical disc system has two components (a ball and trough design) that the surgeon attaches to the vertebrae on either side of the disc. These components are made of a mixture of metals commonly used in spine surgery (titanium ceramic composite) and a ceramic ma Continue reading >>
Medtronic Buys Twin Cities Start-up Firm Responsive Orthopedics
Medtronic PLC plans to jump into the market for dependable, lower-priced knee and hip implants next year, after acquiring a Twin Cities start-up company that specializes in selling devices to hospitals in government cost-cutting programs. During a presentation to investors Monday, Medtronic executives revealed that they had acquired Minneapolis-based Responsive Orthopedics in a private deal with undisclosed terms. The deal is part of Medtronics overarching strategy to capitalize on the national push for greater value in health care purchasing. Its an area of obvious interest for us, Medtronic Chief Executive Omar Ishrak told investors at a presentation in New York City on Monday. A Medtronic spokeswoman said the Minnesota-run med-tech company has been a minority investor in Responsive Orthopedics since 2014. Led by industry veteran Doug Kohrs, Responsive Orthopedics was founded with an unusual vision in the med-tech world to sell lower-cost artificial knees and hips with streamlined size offerings and instrument sets. A more typical marketing strategy for the major orthopedic implant companies would be to innovate more features and models that can drive premium pricing. In a Star Tribune story last month, Kohrs said Responsive Orthopedics implants are intended exclusively for health care providers taking part in federal programs to reduce the costs of hip-and-knee procedures. Such bundling initiatives drive hospitals toward medical devices that can be purchased more cheaply but deliver the same quality of care. Hip and knee replacements are the most common inpatient surgery for Medicare patients, with more than $7 billion spent on 400,000 procedures in 2014 alone. But the average total cost of care and recovery ranges between $17,000 and $33,000 per patient. Medicares Continue reading >>
Medtronic I Radius360
Members of ourRadius360 team have had success in value-based healthcare in their own institutions, and weve synthesized their best practices as the basis of our approach. Our purpose is to reduce episode costs, improve quality, and increase patient satisfaction the elements of care that impact CMS reconciliation payments the most. These drivers for success require time, organization, and leadership commitment. We bring the infrastructure and people power it takes to establish each of these in your organization. Our Established Blueprint for Success ACROSS THE CONTINUUM OF CARE Radius360addresses the entire continuum through essential protocols and interventions, all delivered through partnership, and derived from physicians with expertise in bundled payments. TheRadius360 model is designed around your organizational success and can be initiated without any upfront investment on your behalf. Youll experience immediate peace of mind as we: Initiate partnership and align financial and institutional goals Address immediate financial strain on hospitals pertaining to joint repair Facilitate physician /hospital incentive alignment Implement expert-derivedRadius360 protocols and interventions with on-site project management and support technologies Manage performance review and process improvement planning Our commitment to creating true value in healthcare delivery means that we do not and should not get paid unless the hospital is successful in reducing its total episode costs while improving patient quality and outcomes. Based on the CJR model, our success fee will be aligned with the success of the CJR program. CJR EPISODE RECONCILIATION PAYMENTS OFFER UPSIDE OPPORTUNITY1 Continue reading >>
Medtronic I Responsive Orthopedics Total Knee Arthroplasty System
Contraindications include but are not limited to: Overt or suspected latent infection of the knee joint Active infections at other sites that may spread to the knee joint. Should a patient have any infection prior to implantation, the foci of that infection must be treated prior to, during, or after implantation Patients with inadequate musculature or neuromuscular disorders leading to loss of function in the limb or possibly leading to complications in post-operative care Patients with poor bone stock compromised by disease, infection or prior implantation that cannot provide adequate support and fixation of the device Severe ligamentous or muscle laxity, or inadequate soft tissue coverage to allow for normal healing and re-establishment of proper mechanics Change in positioning, loosening, bending, cracking, fracture, deformation or wear of one or more of the components Pain, dislocation, subluxation, decreased range of motion, or shortening or lengthening of the leg due to improper positioning, looseness, or wear of components Femoral, tibial, or patellar bone fracture intraoperatively, or postoperatively due to trauma, excessive loading or poor bone stock Allergic reactions to materials of components Superficial or deep infection, which may delay healing and necessitate the removal of the prosthesis On rare occasions, arthrodesis of the joint or amputation of the limb may be necessary Nerve damage, deep vein thrombosis, periarticular calcification or ossification, articular injury, or vascular occlusion Never combine components with those made by different manufacturers. Do not implant any device that has been used, or if the package appears damaged, tampered with or breached. Surgeons should be familiar with the implant, instruments, and surgical technique before Continue reading >>
Medtronic Formally Jumps Into The Total Joint Segment With A Total Knee Replacement And Program
Medtronic targets Medicare bundled payments with knee replacement offering (MassDevice) Medtronic (NYSE: MDT ) said today that its getting into the large joint replacement business, aiming to capitalize on a new bundled payment program at the Centers for Medicare & Medicaid Services. The government insurer announced its 5-year Comprehensive Care for Joint Replacement program inJuly 2015, saying it would involve more than 800 hospitals in 75 geographic areas. The CJR program, which went into effect in January, bundles payments for hip and knee replacements from hospital admission to 90 days after discharge. The payment covers all related items and services paid under Medicare Part A and Part B for all Medicare fee-for-service beneficiaries, CMS said at the time. Reimbursement isalso pegged to outcomes and cost, giving Medicare the ability to claw back payments or reward good performance with addition payments; the CJR program aims to save about $150 million over 5 years. Today Medtronic said its new Orthopedic Solutions business, launching with a total knee arthroplasty solution, aims to help surgeons through the CJR process from pre-surgical planning through the 90-day post-discharge period.The knee offeringdebuted this week at the annual meeting of the American Assn. of Knee & Hip Surgeons; the Fridley, Minn.-based company said it expects the knee offering to be widely available in the 1st half of next year. Medtronic is here to help speed the adoption of value-based healthcare in orthopedics by helping hospitals drive down costs while keeping outcomes top of mind, restorative therapies presidentGeoff Marthasaid in prepared remarks. Our technological and operational efficiency know-how along with our insight into the various points along the care continuum helps us de Continue reading >>
Zimmer Enlists Medtronic To Advance Less Invasive Joint Replacement
Zimmer Enlists Medtronic to Advance Less Invasive Joint Replacement All of the major orthopedic device companies have programs whose goal is to make joint replacement surgery less invasive, but it's a particular priority for Zimmer Holdings. Zimmer is now collaborating with Medtronic's Surgical Navigation Technologies. Already Registered? Sign in to continue reading. Thanks, we've sent a link to reset your password Enter the email address associated with your account and an email will be sent to you to reset your password. Unfortunately we've not been able to process this request. Phone:(US Toll-Free): +1 888-670-8900; (US Collect): +1 908-547-2200 Phone (UK & Europe): +44 (20) 337 73737 New to In Vivo? Request a free trial today! Thanks, we've sent a link to reset your password Enter the email address associated with your account and an email will be sent to you to reset your password. Unfortunately we've not been able to process this request. Phone:(US Toll-Free): +1 888-670-8900; (US Collect): +1 908-547-2200 Phone (UK & Europe): +44 (20) 337 73737 Thanks, we've sent a link to reset your password Enter the email address associated with your account and an email will be sent to you to reset your password. Unfortunately we've not been able to process this request. Phone:(US Toll-Free): +1 888-670-8900; (US Collect): +1 908-547-2200 Phone (UK & Europe): +44 (20) 337 73737 Your username does not meet the requirements. Sorry - this email domain is not allowed. Sorry - public email accounts are not allowed. Please provide a work email address. An account with that username already exists. Unfortunately we've not been able to process your registration. Please contact support. Ask the Analyst is free for subscribers. Submit your question and one of our analysts will be in t Continue reading >>
Medtronic Launches Orthopedic Solutions For Joint Surgery
Medtronic Launches Orthopedic Solutions for Joint Surgery Medical device major Medtronic plc MDT recently announced the launch of Medtronic Orthopedic Solutions, a comprehensive offering for total joint replacement episodes of care. The product has been designed to reduce the high costs associated with hip and knee replacements along with an aim to improve patient outcomes. It specifically addresses the recently implemented Comprehensive Care for Joint Replacement (CJR) model by Centers for Medicare & Medicaid Services (CMS) a bundled payment initiative that holds around 800 hospitals responsible for the quality of care they deliver for hip and knee replacements. This new Orthopedic Solutions business is claimed to offer a consultative program to assist providers in meeting CJR requirements. While addressing patient satisfaction and outcomes, it will support providers from pre-surgical planning through the 90th day post discharge. Additionally, Medtronic is set to introduce a value-based total knee arthroplasty system at the American Association of Knee and Hip Surgeons Annual Meeting (AAKHS), which is currently taking place in Dallas. The FDA-cleared knee implant will be widely available in the first half of 2017. Management noted that the company has partnered with physicians to create the range of Orthopedic Solutions which include care pathways, patient monitoring with Medtronic care management services, the total knee arthroplasty system and bleeding control with the companys Aquamantys system. CMS is currently emphasizing on hip and knee replacements as these are the common inpatient procedures and often require lengthy recoveries. CJR model strives to improve patient care by encouraging hospitals, physicians, and post-acute care providers to work together to imp Continue reading >>
7 Key Notes On Medtronic's Q1: Ceo Omar Ishrak's Take
7 key notes on Medtronic's Q1: CEO Omar Ishrak's take Written by Laura Dyrda| September 04, 2015| Print | Email Here are 10 takeaways from the conference call with Medtronic CEO Omar Ishrak discussing the company's first quarter of the new fiscal year and where Medtronic is headed in the future, based on a transcript from the call published in Seeking Alpha. 1. The company is still focused on three major growth strategies: therapy innovation, globalization and economic value. "We believe our three growth strategies are the right ones to achieve long-term growth and the resulting diversification, differentiated approach and competitive advantages will enable us to deliver on our baseline financial expectations," he said. 2. Medtronic recently formed a joint venture giving the company controlling interest in its largest distributor in Saudi Arabia, which is expected to deliver incremental revenue and improved margins in country. The company saw notable improvements in China, India and Russia. 3. The CMS proposed bundled payment initiatives mandate for hip and knee replacements could have an impact on the company's business. Medtronic doesn't currently have hip or knee replacement lines, but similar initiatives could spread to other specialties. Participating hospitals are at risk for the cost and quality of joint replacement surgery and post acute care for 90 days after surgery. "As bundled payments take hold, we expect to offer unique comprehensive solutions to healthcare providers, encompassing our devices, associated diagnostics and home-based patient monitoring programs, all wrapped in risk sharing business models," Mr. Ishrak said. 4. The Covidien integration was reported as successful thus far. There was continued revenue growth across all of the company's groups a Continue reading >>
Medtronic Launches Program For Total Joint Replacement Episodes Of Care
Medtronic launches program for total joint replacement episodes of care DALLAS Medtronic announced the launch of Medtronic Orthopedic Solutions, a comprehensive program for total joint replacement episodes of care designed to reduce system costs and improve patient satisfaction and outcomes, according to a company press release. Medtronic Orthopedic Solutions was created to address the rising costs of hip and knee replacements, specifically addressing the Comprehensive Care for Joint Replacement (CJR) model implemented by CMS by offering a consultative program to assist providers in meeting CJR requirements. In addition, Medtronic partnered with physicians to create tailored solutions within the program, which include care pathways, patient monitoring with Medtronic care management services, the total knee arthroplasty system and bleeding control with the companys Aquamantys system. This is about more than just offering implants or individual technologies and services; it is about partnering with all stakeholders throughout the entire episode of care to enable patient-centered care at the best value, Geoff Martha, executive vice president and president of Medtronic Restorative Therapies Group, said in the release. Continue reading >>
Medtronic I Orthopedic Solutions
The partnership you need to successfully move forward in value-based healthcare. VALUE-BASED HEALTHCARE SIGNIFIES A POWERFUL CHANGE FOR THE BETTER. ARE YOU FACING IT HEAD ON? The Comprehensive Care for Joint Replacement (CJR) program and the Bundled Payment for Care Improvement (BPCI) initiative from the Centers for Medicare and Medicaid Services (CMS) indicate a disparity between costs and outcomes. Costs are rising without a positive impact on outcomes. To address this, CMS is incentivizing hospitals to focus on value rather than volume, and to improve patient care while reducing overall episode cost.1 An entirely new approach is needed immediately to ensure sustainability and efficiency. The approach requires hospitals to think beyond what happens within their own walls, to the patients entire episode of care, inclusive of pre-op preparation, recovery, and overall wellness. But the process of changing to this new value model which includes shifting departmental alignment, service line infrastructure, organizational goals, and technology requirements is daunting. Value-based healthcare programs are here from CMS today. Private insurers and employers are likely to follow. For providers who seek to continue to provide joint replacement care, adapting to this change is imperative.1 THE OPPORTUNITY IN VALUE-BASED HEALTHCARE, AND CONSEQUENCES FOR THOSE WHO FAIL TO ADAPT, WILL GROW OVER TIME.2 Reconciliation payments will change with time. Those who invest in organizational change today have an opportunity to become centers of excellencepositioning their businesses for growth and success. Hospitals that implement change sooner are more likely to benefit later on: Reconciliation stop-gain /loss rates are mandated by CMS AN ESTABLISHED METHODOLOGY FOR SUCCESS IN VALUE-BASED Continue reading >>
Making Sense Of Medtronics Medtech Moves
Uniting the people who know, to talk about the things that matter HEALTHEGY NEWS - SHARING CRITICAL INSIGHTS ON HEALTHCARE INNOVATION Making Sense of Medtronics Medtech Moves There is a reason why last weeks Medtech Conference led off with an intriguing interview with Geoff Martha, Executive Vice President, Restorative Therapies Group at Medtronic. This week, the sector giant announced it is entering the enormous large joint market with the purchase of Minneapolis-based Responsive Orthopedics. The company says the deal will enable it to undercut the incumbents prices due to new government mandates that incentivize value-based care via bundled payments. The entry into orthopedics may sound surprising but it fits nicely into the acquisition strategy laid out last week in Marthas conversation with Stacy Enxing Seng of Lightstone. He didnt mention the Restorative deal, but Martha might as well have as the deal meets the criteria he laid out for acquisition. You can watch the interview here and listen to a portion of it in this weeks MedtechTalk Podcast . Medtronic is aiming to shake up the market with a knee replacement in early 2017 and a hip replacement a year later; the knee already has FDA clearance, but the hip does not. Company officials stressed that they view the products as premium quality, but not premium priced. They hope the pricing is feasible due to Responsives low-cost, disruptive business model. The bigwig is taking a targeted approach to the low-growth sector. It will target hospitals impacted by the Comprehensive Care for Joint Replacement (CJR) Model , making the move a value-based health care play. Under the CJR, hospitals will be penalized for high-cost hip and knee replacements, and receive financial rewards if the total cost of care (including rehabi Continue reading >>
Medtronic | Hip Knee Joint Replacement Surgery, Reduced Blood Loss
Talk to asurgeon in your area who uses Transcollation technology from Medtronic Advanced Energy, including those who have reduced their tourniquet usage in knee replacement surgery and/or use the anterior approach in hip replacement surgery. Your surgeons ability to control blood loss during your knee or hip replacement is crucial. Medtronic Advanced Energy develops products to help surgeons stop bleeding and reduce blood loss during surgery. As a result, these products may provide you with the following benefits: Reduced need for a blood transfusion, which may result in less risk of infection after surgery6 Reduced post-operative incidence of hemarthrosis, which may lead to a reduction in pain and swelling7 The Aquamantys System from Medtronic Advanced Energy uses patented Transcollation technology, a combination of radio frequency (RF) energy and saline that provides hemostatic sealing of soft tissue and bone during surgery. Hemostatic sealing reduces further blood loss during the procedure. More about the use of the Aquamantys System for knee and hip procedures >> At Medtronic, were changing the face of chronic disease. By working closely with physicians around the world, we create therapies to help patients do things they never thought possible. Medtronic Advanced Energy products help doctors and their OR staff stop bleeding and reduce blood loss during surgery. Our monopolar and bipolar sealers have been used to treat patients across a wide range of surgical procedures, including orthopaedic reconstruction, spine surgery, orthopaedic trauma and surgical oncology. Clinical studies have shown these products to be effective in controlling blood loss during orthopaedic surgery8,9 Aquamantys monopolar and bipolar sealers are not intended for contraceptive tubal coagula Continue reading >>
