Got a call from Medtronic in Memphis for a Product Manager job. Spoke to them about my hip and knee past experience. Didn't work out, but what is interesting is they are planning to enter the market with to knee and hip implants sourced from China in a market disrupting way. There's a Government program called CJR (https://innovation.cms.gov/initiatives/cjr) that forces a single bundled payment onto hospitals in 70 selected counties in the US. This started This month (April 2016). These counties get paid 1 payment, out to 90 days post surgery, for all services (lab, implants, surgeon, OR etc) associated with primary total knees and total hips. Medtronic, with their broad portfolio (now including Covidian and Chinese implants), will charge 1 price for all services and implants. The hospital avoids risk and negotiates one price with one supplier. The implant is priced in the procedure! Not separate. It will grab some share, but the bigger impact will be on pricing I think. They want to keep their costs low, and so were wanting to pay a Marketing Manager $125K including bonus, which represented the top of the scale.
This is not new. There is no way cheap chinese knock offs are going to be Medtronic's way into joint replacement. Why would they start from scratch with no market share and fight on price? That is not a good business plan.. The rest of the big companies will cave on price and still retain their market share.
This has been tried many times in the past. Small, new companies that enter the market on price ONLY as their advantage, have a short term gain but eventually they are crushed by the big boys. Anyway, would you want a Chinese implant put in your grandmother?
This thread is pretty hilarious being put on the Zimmer Biomet message board. You obviously know very little about where this company manufactures to keep their taxes low. Whole lot of American grandma's walking around with China manufactured implants from this company
The key here isn't where the implants are made, but rather the pricing is bundled with a large number of other services in a single payment, and a guarantee that Medtronic will cover overages. Who knows if reps will even be in the room for the knee/hip. To a hospital it offers one payment from the government and one price to a supplier, with no risk.
Plan revealed (newspaper article) http://www.startribune.com/medtronic-buys-twin-cities-start-up-firm-responsive-orthopedics/382180081/
In-bundling... Look into the future. This is what will happen with the healthcare reform and hospitals having to cut costs, so much fine print are in huddle deals. And customers don't even know until they are stuck in a contract paying a shit ton more...
In-bundling... Look into the future. This is what will happen with the healthcare reform and hospitals having to cut costs, so much fine print are in huddle deals. And customers don't even know until they are stuck in a contract paying a shit ton more... SORRY meant UN-bundling
Medtronic just bought another ortho company. The push for Zimmer's market share continues. Question: who will have more share of the hip knee shoulder space in five years, Smith and Nephew or Medtronic?
As Medtronic enters the market for joints, our execs blow a billion on a crap spine device and compression sleeves. My Stryker buddies are having a huge laugh at our expense. We thought Dvorak and team wanted to kick a$$. Where are the revolutionary ideas and products that enable us to leverage the strengths of the entire company?
Having your implants made outside the US has huge risks with the FDA. Sure, they're cheap, but you may not get to sell them.
You guys are clearly misinformed as to where these implants are made. Go ahead and spread the fear mongering about Chinese implants and look like a total fool when your surgeons learn the truth. They are made in the US of A.
Even devices labelled "Made in the USA" can simply be assembled in the USA using Chinese made components. And there are many other countries outside the USA where ZB devices and their key components are made. I've found that most surgeons want to know a) where is the device designed, b) where are the key components manufactured, and c) where is the device manufactured.
I interviewed with them and decided not to pursue it. They will be offering primary hips/ knees at about a 50% discount to current asp, only in the areas where CMS is mandating the single payment. How do they make money? Very simple, this is a rep less model and they will have a small group of clinical specialists to help with the first few cases. The implants are made in the US. The sales process is corporate sales to the CFO. I don't think they will grab much market share but they will succeed in lowering asp across the country.
Here's the launch announcement article. https://orthostreams.com/2016/11/medtronic-formally-jumps-into-the-total-joint-segment-with-a-knee-replacement-offering-and-a-program/
i just interviewed with them as well. Same shtick, different day. Sell everything for peanuts and go essentially repless. We all know any hospital worth their weight that doesnt want to have a patient readmitted within 90 days sees the value in having a rep present. It's sad to say, but most hospitals/techs/nurses are incompetent when it comes to our speciality. They have become accustomed to reps being present for Orthopedic cases that they actually complain when we are not there (in SOME hospitals, let's not get ahead of ourselves). I'm fully aware that a monkey could do my job from the outside, but pre and post-op and even sometimes intra-op depending on your tech, there are so many dipshits in an OR that rely heavily on us and I would gladly challenge any VP of Supply Chain who only looks at dollars & cents all day with no clinical background to bring in some cheap knockoff to save a few pennies. Good luck!
Not true. There are very specific laws regulating labeling of devices as Made in the USA. 'Simply assembling in the USA' does not necessarily warrant the "Made in the USA" label. These laws and rules are governed by US Customs and Border Protection Guidance 19 CFR 102. You might want to check them out before you get everybody worked up with your false assertions.
