Sorry, but your analogy sucks. Bottom line, there is very little differentiation in terms of value added between payers (i.e. insurance companies). At the end of the day, they send a check. When it comes to the technology a physician is implanting in a patient, there are some notable differentiators. If I found out my loved one's physician chose company A over company B because they were being incentivized not due to the clinical benefits of one system over another...well I think you can guess where I am going with this. Try googling "hippocratic oath". It is amazing how some will rationalize their decisions/behavior for money. After you are done googling, rent "Less then Zero". Bio has some interesting technology and has made contributions in some niche areas. However, when it comes to standing toe to toe with BSX, MDT, and STJ, they fall short on many different levels. They will ALWAYS be a niche player. Buying business will only carry them so far. Sooner or later they will have to produce the goods. That doesn't mean that some of these whores they have hired wont make a few bucks at the expense of patients and physicians. JMHO.
Are you serious? I have worked CRM in three major markets now, and have yet to see the Hippocratic Oath hold up to the lure of the All-Mighty Dollar.
Look. I can hardly blame these guys. On top of medical school and malpractice insurance, they have to keep their wives bamboozled with gobs of cash so they don't stop to realize how geeky these guys are.
I'll give you that SOME doctors are more straight-laced than others, but ultimately they have to get paid to stay in business. CMS payouts are barely keeping up with inflation, so they've GOT to make up the difference somewhere. Clinical studies are the answer. Not only do they offer a chance to pad the pocket, but they are also FDA-approved giving them the guise of legitimacy.
So, if you are suggesting that BIO is buying their business through clinical studies - then, fine. Guilty. But you can cram it up your ass if you are claiing that ANY other company out there is not engaged in the same practice.
You are dead-on with your assertion that we have some unique "niche" technology. It's SO unique that Boston buys it from us and sells it as their own, but beyond that BIO's problems have been pretty simple.
Not enough feet on the street.
Not enough penetration into the teaching institutions.
The layoffs at MDT and BSX have flooded the market with answers to the first problem.
The recent hiring of PN from BSX is the beginning of the solution for the second. If BIO can become part of an EP's Fellowship....
Look - we're easy to beat up. We are an underdog. But you know what - some guys like the underdog, and ultimately, I could give a Rat's Ass how a company does nationwide if I can pay my bills with the help of those physicians who value working with ME regardless of what's in my bag.
Good luck...