How Will These 2 Major Healthcare Changes Affect Medical Device Companies?




Medsider Radio: Learn from Medical Device and Medtech Thought Leaders show

Summary: How will healthcare reform affect care delivery and reimbursement? And what will the impact be for medical device companies? These are probably the 2 biggest questions that medtech companies need to answer in order to succeed in the future. Unfortunately, there aren’t solid answers at this point. But there are some people that can help! In this interview with Brian Contos, Executive Director for the Advisory Board Company, we learn how medical device companies can respond to the changing healthcare dynamics. Interview Highlights with Brian Contos - Brian explains the following trends: From 2005-2011, lower extremity angioplasty procedures increased by 67%, venous ablations increased by 400%, and venous angioplasty 62%. Yet coronary intervention procedures decreased by 20%.- How will the increased scrutiny regarding the appropriateness of certain procedures impact healthcare providers and medical device companies?- The number of hospitals offering catheter-based revascularization has increased by 30% over last 10 years. What are the results of these trends?- How will reduced reimbursement affect the recent influx of POL’s (physician-owned labs)?- From 2008-2013, inpatient reimbursement of peripheral arterial revascularization increased by 15%. However, physician fee schedules for endovascular specialists have decreased substantially over the last 5 years. Will this continue?.- Value-based purchasing (VBP) programs, readmissions reduction incentives, value-based payment modifiers for physicians, bundled payments for care improvement initiatives, and commercial ACOs. What do all of these healthcare delivery changes mean for medtech companies?- Percutaneous transcatheter heart valves and renal denvervation. Is there too much hype around these two spaces? Brian provides us with his expert opinion.- What is the one major initiative that medical device companies need to really grasp as we head into the new era of healthcare?- And much more!This Is What You Can Do Next 1) You can listen to the interview with Brian Contos right now:2) You can also download the mp3 file of the interview by clicking here. Don't forget – you can listen to this interview and all of the other Medsider interviews via iTunes. And if you get a chance, leave us an honest rating and review. 3) Read the following transcripts from my interview with Brian Contos. Read the Interview with Brian Contos I hate to have these interviews interrupted. So before we dig in, listen to these quick messages: First, to get free email updates when another Medsider episode goes live, simply go to Medsider.com/free. We don't send emails often. But when we do, they're full of valuable content. No spam…ever. Just go to Medsider.com/free to sign up. Second, Medsider is on iTunes. Just go to Medsider.com/iTunes and you can subscribe to the podcast for free. That way, all the new episodes will automatically download to your iTunes account. It's super easy. Also, if you like the podcast, don't forget to rate it. That really helps us out. Okay, for you ambitious doers…here's your program… Scott Nelson: Hello, hello everyone. It’s Scott Nelson, and welcome to another edition of Medsider. This is the program where you can learn from proven and experienced med tech and medical device thought leaders and experts, and on today’s program we have Brian Contos, who’s the Executive Director for the Advisory Board Company, a global technology research and consulting firm partnering with 150,000 leaders in 3700 organizations across healthcare and higher education. So without further ado, welcome, Brian. Appreciate your coming on the program. Brian Contos: Great. Well, thank you, and thank you for inviting me to the discussion today. Scott Nelson: Absolutely. 00:00:39 So let's first start out with a little bit more about you as well as the role you play within the ...