MINNEAPOLIS--(28th Annual Orthopaedic Trauma Association (OTA) Meeting today shows that generic implants can deliver significant cost savings without sacrificing quality or outcomes.)--Scientific research presented at the
“These studies demonstrate the ability of generic implants to significantly lower implant costs to hospitals, insurance carriers and patients while providing high quality care, potentially saving the health care system billions of dollars in unnecessary costs”
The Reno Orthopaedic Clinic and the University of Nevada School of Medicine jointly conducted two independent IRB-approved studies that were presented as posters at the OTA national meeting. These studies, utilizing The Orthopaedic Implant Company’s (OIC) generic screws, examined the costs, implementation and clinical outcomes of a cost-containment program at Renown Regional Medical Center in Reno, Nev. Results showed that generic orthopaedic implants provide a high-quality, safe and affordable option for patients and hospitals.
The authors concluded that generic screw utilization resulted in hospital cost savings of more than 65 percent, highlighting the ability of generics to dramatically lower implant costs and procedures. They noted that the savings are similar to those seen within the generic drugs market.
“These studies demonstrate the ability of generic implants to significantly lower implant costs to hospitals, insurance carriers and patients while providing high quality care, potentially saving the health care system billions of dollars in unnecessary costs,” said the studies’ lead author Peter Althausen, M.D. “We’re excited but not surprised by the studies’ findings. These results empower surgeons, hospitals and patients to feel comfortable choosing generic implants without having to worry about sacrificing quality.”
The studies looked the use of generic equivalent 7.3 mm cannulated sacroiliac and femoral neck screws used in orthopaedic trauma procedures. The generic 7.3 mm cannulated screws made by OIC performed as well as conventional screws for the fixation of femoral neck fractures and posterior pelvic ring injuries without affecting patient care, quality or outcomes.
In the first study, 45 femoral neck fracture patients treated with generic 7.3 mm cannulated screws made by OIC were compared to 50 patients treated with conventional screws. The study looked at operative time, estimated blood loss, complication rate, shortening, screw cutout, conversion to arthroplasty and varus collapse. There were no measurable differences between both sets of patients, and the hospital saw a 67 percent cost reduction by using OIC’s generic screws resulting in an annual savings of $34,653 for the hospital.
The second study compared 35 patients treated with generic cannulated screws from OIC against 44 patients treated with conventional screws for posterior pelvic ring injuries. In the generic group, surgeons implanted 45 screws and 40 washers. In the conventional group surgeons implanted 59 screws and 50 washers. A blind reviewer found there was no increase in operative time, estimated blood loss, complication rate, screw cutout, screw deformation or screw loosening. The hospital realized a 73 percent cost reduction, which translates to an annual savings of $14,472. Hospital implant costs were decreased significantly without any associated increase in complication rate or radiographic outcome.
Both studies concluded that, if generic implants were more commonly used, the results could have profound implications for the treatment of trauma patients.
OIC entered the medical device market in 2010, pledging to save more than a billion dollars in health care costs by 2015. The company’s implants are 50 to 60 percent of the average market price of premium implants, potentially saving health care systems millions of dollars a year. All OIC products are FDA approved and manufactured in ISO 13485 facilities.
About The Orthopaedic Implant Company
The Orthopaedic Implant Company (OIC) is more than an implant company. It is a movement to rethink the world of health care, offering a progressive, new business model that can cut health care costs by more than 50 percent - with the real possibility of saving the overtaxed health care system a billion dollars by 2015. A brainchild of a unique blend of expert practicing surgeons, hospital insiders and orthopaedic peers, OIC develops, manufactures and markets a broad range of orthopaedic implants that are driven by evidence-based practices and are humanly priced.
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