Thanks to innovative technology and a business model that lowers costs, robotic assisted arthroplasty is expected to grow rapidly in the next decade
SANTA CLARA, California, March 13, 2017 /PRNewswire/ -- Less than 5 percent of all total knee replacement operations performed last year in the United States were robotically-assisted, despite evidence suggesting these patients have better long-term outcomes compared to conventional surgery. The high capital costs that hospitals must absorb for acquiring and maintaining the systems are a major reason why so few patients have access to the benefits of the technology.
New Frost & Sullivan white paper titled Comprehensive Care for Joint Replacement (CJR) ROI Model – Comparative Analysis of Robot Assisted Versus Conventional Surgical Technique presents evidence that hospitals may be able to provide greater access to robotic assisted surgery without a massive capital expense by using a proven robotic assisted surgical system designed to make the technology more affordable – OMNIBotics®. The white paper will be released at the American Academy of Orthopedic Surgeons (AAOS) Annual Meeting.
With robotic assisted surgical systems already able to show faster rehabilitation times and an improved quality of care, the business model of OMNIBotics® is expected to help make robotic assisted arthroplasty the standard of care in the coming years.
As part of its research, Frost & Sullivan compared both hard and soft costs associated with conventional arthroplasty to costs using OMNIBotics® and another major robotic assisted surgery system. The OMNIBotics® model requires no capital investment from hospitals, rather adopting a fee-per-procedure model which encourages adoption. When compared to traditional arthroplasty, the superior results demonstrated in surgeries using the system translated into thousands of dollars in savings for each patient thanks to shorter sub-acute care stays and lower hospital readmission rates. These savings will be critical as providers adapt to bundled payment programs such as the Comprehensive Care for Joint Replacement (CJR) model launched by the Centers for Medicare & Medicaid Services (CMS.)
"When we compared costs for capital acquisition, the surgery itself and 90 days post-surgery, OMNIBotics® proved to generate the largest savings while allowing patients to return to full use of their knee the fastest," said Patrick Riley, Senior Analyst for Advanced Medical Technology at Frost & Sullivan. "Clinicians we interviewed reported their patients undergoing surgery with OMNIBotics® were returning to full activity within three to four weeks instead of the ten to twelve most patients experience with conventional knee arthroplasty."
Frost & Sullivan's white paper is intended to serve as a road map for hospital leaders in how they may be able to meet CJR mandates while at the same time adopting the latest surgical technologies and lowering costs all at the same time. The company believes the value proposition of technologies like OMNIBotics® will grow as providers seek new ways to improve the quality of care under bundled payment programs.
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SOURCE Frost & Sullivan