On telemedicine, Zimmer Biomet and Stryker have stark contrast

Blank One Way SignsTraditional medical device companies — including Medtronic, Boston Scientific, Zimmer Biomet and Stryker — are trying to prove their worth to hospital systems looking for more than just widgets to implant to treat a variety of maladies.

No where is this more apparent than in the world of orthopedics, where scrutiny has fallen on implant prices, even as the industry has responded by pointing out that a big part of the costs of a joint replacement happen when the patient has been released from the hospital. From April this year, the bundled payment regime was instituted in 800 U.S. hospitals by which Medicare would pay them a lump sum per joint replacement for a defined period. That period of time stretches from 3 days before the surgery to 90 days after it. If hospitals’ costs are lower than the Medicare lump sum, they win. Otherwise… well you get the picture.

Acutely aware of the cost-conscious, value-driven environment, ortho companies are looking for ways to help their customers navigate value-based care. Zimmer Biomet made an interesting play last week in buying a virtual or telerehab startup RespondWell for an unknown sum.

By Arundhati Parmar | MedCity News

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About Peter Coffaro 1149 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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