Paul Joyce

Thinking “Sole Vendor”❓ Vendor consolidation has become an increasingly popular strategy, driven by large orthopedic companies, and employed by both hospitals and private practice orthopedic groups in recent years. ➤ Why the shift? Economics…the orthopedic marketplace is under growing pressure to drive down prices for the implants it provides. The cost of doing business in medicine continues to rise and margins continue to shrink. As a way to combat reductions in average selling price, large orthopedic companies have worked hard to leverage hospitals and private practice groups into agreements that tie lower prices to exclusivity on the purchasing front. The pros and cons: 👇 ➤ Single Vendor: 🔹Pro - Agreement to a single vendor will result in an immediate reduction in the cost of certain implants in a company’s portfolio. This can lead quick savings on often used implants like those related to total hip and total knee arthroplasty. 🔸Con - The financial savings realized in one category of products is often offset by a new commitment to purchase higher priced options in another category and can lead to neutralized savings or even an overall cost increase. This is especially true as new technologies enter the market. 🔹Pro - Consolidation of implant options can streamline operations. When surgical staff see the same products used case after case it’s natural to presume efficiency will improve. 🔸Con - Consolidating vendors ALWAYS requires some portion of the practicing surgeons to switch away from the implant systems they currently use and believe in. Experience suggests that getting all the players to agree on the new implant company of choice is often a deal breaker. ➤ Open Market: 🔹Pro - Competition drives pricing down. When the marketplace is opened up companies will compete for the business. If there is a genuine opportunity, i.e. a real willingness for surgeons to look at new options, there will be a substantial opportunity for price reduction. 🔸Con - More moving parts equals a greater opportunity for things to slip through the cracks. Purchasing groups/practices that struggle to stay on top of things may not realize the savings opportunities available in the open market. 🔹Pro - Access to the open market maximizes options for surgeons…solutions tailored for the specific situation. No single company regardless of size and scope has the best product offering for every surgeon and every situation. 🔸Con - Much like the single vendor option, realizing a cost savings on the open market will often require change, or at a minimum the willingness to genuinely explore different options. Imagine you’re buying a car. It has to have very specific features, the color is non-negotiable, it must come from a specific dealership, and you’re only willing to talk with a particular salesperson. Might that affect your negotiating power? The answer is yes. #orthopedics #orthopedicsurgeon #ascdx

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MedTech, a $500 billion industry will more than double as TechMed becomes the new market driver. Alan Cohen, head of the prolific DCVC investment group that is fueling the next generation of medical devices has identified a new segment of the medical device industry, “TechMed”. “Whereas MedTech players are primarily product companies that monetize device sales, TechMed companies are funda­men­tally software- and platform-centric.” “The economics and business-model impli­ca­tions of the TechMed movement more closely mirror the dynamics we see from dominant tech platforms and ecosystems.” Immersive medicine, the use of media as medicine, sits firmly in the TechMed space and will drive considerable job growth for those capable of wielding media to impact change to human health and behavior while generating an amazingly potent data stream. Read all of Alan’s thesis here: https://lnkd.in/gx5BMab2 See him present next at LSI’s awesome medical conference on September 19th (Day 3) at #LSIEurope24 in Sintra, Portugal.

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There are many reasons the bi-annual, bi-coastal DeviceTalks meetings are a "Do Not Miss" for those in our #medtech industry. *Speakers that are on the cusp of innovation, the bellwethers of where our industry is headed *The right "mix" of large corporations, startups, midcaps, and everything in between *Forward thinking, yet rooted in the basics. We stand on the shoulders of the pioneer giants before us to learn where our industry has been, where it is today, and what we need to do for tomorrow *The BEST People (people who serve the MedTech ecosystem are special) *The BEST People (big points deserve two spots) In this wrap up of #DeviceTalks Boston, Tom Salemi, Kayleen Brown, Chris Newmarker, Paul Melnychuck and I discuss the highlights of this two and a half day event held May 2&3. Thank you for inviting me to chat with you all about the industry we all love and this great event! LISTEN HERE: https://lnkd.in/gEM-hNch #medtech #DTBoston2024 #DeviceTalksWeekly The Mullings Group #AI #medicaldevices #FDA #plastics #3dprinting #neuromodulation #sustainability #biocompatibility #podcast #lifesciences #patientsfirst

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Going back to first principles in lumbar fusion. As a Henry Bohlman spine fellow in Cleveland, we did not use interbody cages with uninstrumented lumbar fusions. The focus was on adequate decompression and use of autograft as the gold standard for fusion. I believe we have gotten lost in performing spinal fusions relying on pedicle screws and metal cages and have forgotten the fundamentals I learned as a fellow. Here are 3 fundamentals to consider for your next spinal fusion: 1. FacetFuse transfacet pedicle screws offers an easy and safer medial to lateral trajectory away from the canal. No need for robots. 2. Direct compression of the facet joint with 2 FacetFuse compared to 4 traditional pedicle screws, 4 set screws and 2 rods spanning the joint. 3. FacetFuse is low profile and sits medially, avoids the lateral muscles. Disclaimers:  1. All facet screws are not replicas of FacetFuse. Results with copies will not reflect those of FacetFuse. 2. Our surgeons use NanoFUSE Biologics a proven proprietary 45S5 Bioglass synthetic biologics which aids fusion. We innovate, no copies! LESS Exposure Advanced Spine Technologies (LEAST) are unique technologies invented for the LESS Exposure Spine Surgery (LESS) movement. NANISX: Pioneering Interventional Spine Innovations. LESSpine: Revolutionizing Orthopedic and Neurosurgical Spine Care. We are KIC Ventures—a rapidly expanding healthtech investment firm at the forefront of the less exposure spine surgery (LESS) movement, redefining outpatient spine surgery. Join us in shaping the future of spine surgery globally. Invest smartly—become an owner in the technologies shaping tomorrow. www.KICVentures.com www.NANISX.com NANISX KIC Ventures FacetFuse Sacrix NanoFUSE Biologics Inspan Sagitechnology LESS Spine MISquito AxioMed #LESS #Spine #Surgery #exposure #lessexposurespinesurgery #technologies #invented #fusion #backpain #implant #innovation #Entrepreneurship #Harvard #orthopedic #Resilience #Innovation #Invest #surgeons #industry #medicaldevice #instability #jamaica #stenosis Erik Spayde, MD This post is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities.

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Traditional dentistry communication and education methods presents many challenges, ranging from language barriers and anxiety to information retention problems. However, AI has the potential to significantly enhance patient engagement and improve communication in the dental industry. This technology offers a wide variety of benefits to patients and providers, including personalized education materials, virtual consults, language translation tools, and virtual reality simulations. In addition, it can track patient progress, analyze feedback, and streamline administrative processes, making for a better patient experience and improving oral health outcomes. #AI #PatientEducation #Dentistry

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I asked Anthony Fernando, the CEO of Asensus Surgical at the recent #SRS2024. Society of Robotic Surgery | SRS. Do we really need another large format surgical robot in the healthcare system? Is another robot the answer? What value is beyond the robot? In the most basic sense, aren’t the centers of data collection (video, imaging, advisement, and AR) perhaps just as valuable, if not more, than the surgical robotic system that in the most basic sense responds to “Here is what we know, now go and do it” ? What drives the acquisition of information that leads to knowledge, shortening training cycles, driving consistency, and advisement based on real-time actionable “right now” data? Worthy of a discussion.

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ASCs are the future battle ground for the soft tissue surgical robotics market - sub divided by new types of robots (Lower acuity) and better on workflows and efficiency... #surgicalrobotics #ASC #roboticsurgery

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If you're a refractive surgeon, your biggest competitor is not your neighbor down the street. It's indifference and lack of awareness. I receive google news alerts on a variety of topics and this one in Forbes caught me by surprise yesterday morning. How is it possible that 𝟮𝟱 𝘆𝗲𝗮𝗿𝘀 𝗹𝗮𝘁𝗲𝗿, we are still addressing the basic questions about LASIK? This is an unfortunate example of how we as an industry (surgeons, manufacturers and other stakeholders) have done a terrible job of educating the public on the benefits of vision correction procedures. Together, we can do better. Full article: https://lnkd.in/drm32jhm #ophthalpreneurs #privatepractice #leadership #ophthalmology #ophthalmologist #refractivesurgery #lensreplacement #personalizedvision

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Richard Meiklejohn and I had a fantastic chat with Sean Gilligan and Angie Volk from Amplitude Vascular Systems (AVS) on The MedTech Impact Podcast. We discussed the problems of treating cardiovascular calcified lesions and how AVS is solving these problems with their IVL technology. In this clip, Sean explains how AVS's Pulse IVL System stands out compared to other IVL technologies currently on the market and in development. Click the link in the comments section to listen to the full episode, and be sure to subscribe to stay up to date on the latest episodes. - 🚀 #medicaldevice #medicaldevices

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