Stryker Sustainability?

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Unsure about PA... However, I think SSS is gaining a lot of traction nationally with hospitals looking at decreasing profit margins and increased costs as ObamaCare fully kicks in. Stryker likely is going to gut SSS of the old Ascent people (which is fine), and put in folks that they want leading the division who have the Stryker mindset and talent level. Lastly, Ascent paid reps on a weird team based bonus + salary model that isn't very incentivizing for personal achievement. Expect that commission structure to change quickly as well. J&J bought SteriMed a month or so ago which in a lot of ways legitimized SSS in the eyes of hospitals that were on the fence. There's a stigma attached to it for sure, but I think it's a great business model with a lot of growth potential which is hard to find in the device industry these days.
 




Anonymous said:
Unsure about PA... However, I think SSS is gaining a lot of traction nationally with hospitals looking at decreasing profit margins and increased costs as ObamaCare fully kicks in. Stryker likely is going to gut SSS of the old Ascent people (which is fine), and put in folks that they want leading the division who have the Stryker mindset and talent level. Lastly, Ascent paid reps on a weird team based bonus + salary model that isn't very incentivizing for personal achievement. Expect that commission structure to change quickly as well. J&J bought SteriMed a month or so ago which in a lot of ways legitimized SSS in the eyes of hospitals that were on the fence. There's a stigma attached to it for sure, but I think it's a great business model with a lot of growth potential which is hard to find in the device industry these days.
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#1
 








Anonymous said:
who is running this division? I see this everywhere and it is going to EXPLODE
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No.. they are just your local recycle garbadge company.. it's like the guys who come around your neighborhood once a week and dump your recycled garbadge you save.
They have been around for awhile.. come and go,, like their employees. They don't stay long.. very high turnover rate.
 




You might be missing the bigger picture............ As a consultant who helps hospitals with efficiencies, You are missing so many other parts of the hospital as I saw your system in the OR but not in the cath lab, radiology or cysto areas.

All of these areas use a ton of disposables.
 




Actually, the Division remanufactures electrophysiological catheters, a variety of other catheters, both invasive and non-invasive products used in / out of the OR and the patient floor. Often, account manager's within the division earn the majority of their monthly revenue from their cath lab business. Anyways, go to the website and see the product line for yourself.
 




Anonymous said:
Actually, the Division remanufactures electrophysiological catheters, a variety of other catheters, both invasive and non-invasive products used in / out of the OR and the patient floor. Often, account manager's within the division earn the majority of their monthly revenue from their cath lab business. Anyways, go to the website and see the product line for yourself.
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The fact is, someone wanted to know about the company. From a standpoint of looking for a job, this is not the best place to work. They have a rediculous turn over rate, none of their employees are happy, for long. They hire people with no medical background. People who have no O.R. experience, or any experience when it comes to working in hospitals and knowing the in's and out's of healthcare. A high school kid could do their job.. it's not rocket science. Who cares what the company does, the hospitals are forced to use the company.. I have been in the business a long time, and have seen their people come and go, most last a year or two, if that.
 




Do you guys actually get what is happening in health care and how a good consultant can(and HAs)help Ors and labs drive down ASP's by upwards of 30%? many of these consultants used to be device reps so they know how fat the margins are.

When your Md's are all working for the hospital, do you really think they are going to continue to get every toy? NO, they are going to be told what to use, what they can't use etc. Why? the CFO is now their boss.

This sustainability is a brilliant business idea that is just scratching the surface(JNJ just bought a like company) so for people to call it a high school type grad job?

You just don't get it pal. Bottom line? why are high priced device reps needed in ortho rooms? they're not.

Wake up, obamacare or not, a tidal wave of cost cutting is coming
 




Anonymous said:
Do you guys actually get what is happening in health care and how a good consultant can(and HAs)help Ors and labs drive down ASP's by upwards of 30%? many of these consultants used to be device reps so they know how fat the margins are.

When your Md's are all working for the hospital, do you really think they are going to continue to get every toy? NO, they are going to be told what to use, what they can't use etc. Why? the CFO is now their boss.

This sustainability is a brilliant business idea that is just scratching the surface(JNJ just bought a like company) so for people to call it a high school type grad job?

You just don't get it pal. Bottom line? why are high priced device reps needed in ortho rooms? they're not.

Wake up, obamacare or not, a tidal wave of cost cutting is coming
Click to expand...

People who bash the idea see the lack of talent Stryker inherited from Ascent. Once all the Ascent Management people are sent packing (Andy M in Philly to name one) then the sky is the limit for this division. It is a great idea at the right time! Just the wrong bozos leading!

Stryker does not spend a 1/2 billion dollars on company for giggles.
 




Bottom line, The hospitals are forced to use reprocessing. Most don't have a choice. Ascent had the most product.. But, not anymore.. Due to J&J , Sterilmed is gaining. I can speak from listening to Dr's during my cases that as soon as they can get rid of Ascent, they are.
It's not so much their product, as is the way that company does business..Along with the high turnover rate and the inexperienced people they hire to collect the trash. Just because someone from Stryker is being moved into the Ascent positions, doesn't mean crap. Those are the guys who couldn't make it...
 




Actually, the Division leadership is made up of studs mostly from Stryker Endo. The old Ascent types are quickly being moved out if they suck. I don't know about the turnover rate nationally. I know though that it does vary from region to region and that in about 12 months it'll be a very different division than it is now. The bottom line though is one man's trash is another man's treasure and doctor's reuse items all the time in the operating room already (kingfisher etc) that touch tissue. hospital's need to save money (ever lowering medicare reimbursement rates), and this is an easy way to do it.
 




The reality is that with the healthcare economy in the dump, healthcare systems are looking for ways to save money and reprocessing is ideal. Think about this in terms of your insurance premiums, how many people do not have insurance, pharma/device company price gouging, and waste that takes place in hospitals. The healthcare deficit isn't going away and affects every single one of us and our families.

The fact that JNJ bought Sterilmed is significant to validating reprocessing. We don't go in just to support cases. We have to be knowledgeable in many competitors products/selling tactics. We work with C-suites, supply chain folks, and clinical staff to understand their needs and provide cost saving solutions with quality products.

As far as the turnover rate, this goes for any company...you don't make the numbers, you're gone. To say that the employees aren't happy is a generalization. We now have individual compensation plans upwards of 200k/year depending on the market, so it's up to the rep to determine their income. The potential income is nothing to be laughed at in this economy with so many educated people in jobless situations. We don't have four hour days. We have to continuously focus on compliance through education, trial/support cases, and be present in our accounts. If a rep isn't willing to do this (and the numbers will show), then there's the door. The grass is greener here if you're willing to work. To say, "it's not rocket science" is a cliche. Because of the stigma associated with what we sell it takes strategic thinking, concise execution, and measurable results.

Hospitals aren't forced to use us. They choose to use us. And to say that Sterilmed offers more products, yes they do. The issue with Sterilmed is they don't have the customer service to drive the savings. I have a physician owned hospital in the market that doesn't want to reprocess. That's fine and rather unfortunate they filed for bankruptcy. We can't convert everyone/every system. I have another hospital that shut the doors. This translates into lost income for physicians, lost income for reps, lost jobs for clinical staff, and most importantly lost healthcare services for that community.

And yes, quite a bit of revenue comes from the EP products, not cath lab. There is a difference. But EP cases aren't performed in every facility in every market, so for many of the account managers their revenue/savings are driven by the OR's. Give consideration to the fact that our savings provides the $$$$ to facilities to purchase other OEM products and capital equipment....

So if you think of SSS as trash collectors, that fine. You're missing the reason why we are present. One day every one of us will be looking at our insurance bill with amazement as to the cost of healthcare.

As far as Andy, I believe he's no longer with the company. Like any company changes are always made for the betterment of the organization. This means job security is a thing of the past for each of us.
 








Do you guys actually sell to surgeons or is it more geared to OR Managers/Materials. I see this as a big plus, I sell ortho and I am getting tired of kissing ass to my Drs. Once you flip an account do you need to cover cases or do you jump to the next account and visit once and while?
 




Anonymous said:
The reality is that with the healthcare economy in the dump, healthcare systems are looking for ways to save money and reprocessing is ideal. Think about this in terms of your insurance premiums, how many people do not have insurance, pharma/device company price gouging, and waste that takes place in hospitals. The healthcare deficit isn't going away and affects every single one of us and our families.

The fact that JNJ bought Sterilmed is significant to validating reprocessing. We don't go in just to support cases. We have to be knowledgeable in many competitors products/selling tactics. We work with C-suites, supply chain folks, and clinical staff to understand their needs and provide cost saving solutions with quality products.

As far as the turnover rate, this goes for any company...you don't make the numbers, you're gone. To say that the employees aren't happy is a generalization. We now have individual compensation plans upwards of 200k/year depending on the market, so it's up to the rep to determine their income. The potential income is nothing to be laughed at in this economy with so many educated people in jobless situations. We don't have four hour days. We have to continuously focus on compliance through education, trial/support cases, and be present in our accounts. If a rep isn't willing to do this (and the numbers will show), then there's the door. The grass is greener here if you're willing to work. To say, "it's not rocket science" is a cliche. Because of the stigma associated with what we sell it takes strategic thinking, concise execution, and measurable results.

Hospitals aren't forced to use us. They choose to use us. And to say that Sterilmed offers more products, yes they do. The issue with Sterilmed is they don't have the customer service to drive the savings. I have a physician owned hospital in the market that doesn't want to reprocess. That's fine and rather unfortunate they filed for bankruptcy. We can't convert everyone/every system. I have another hospital that shut the doors. This translates into lost income for physicians, lost income for reps, lost jobs for clinical staff, and most importantly lost healthcare services for that community.

And yes, quite a bit of revenue comes from the EP products, not cath lab. There is a difference. But EP cases aren't performed in every facility in every market, so for many of the account managers their revenue/savings are driven by the OR's. Give consideration to the fact that our savings provides the $$$$ to facilities to purchase other OEM products and capital equipment....

So if you think of SSS as trash collectors, that fine. You're missing the reason why we are present. One day every one of us will be looking at our insurance bill with amazement as to the cost of healthcare.

As far as Andy, I believe he's no longer with the company. Like any company changes are always made for the betterment of the organization. This means job security is a thing of the past for each of us.[/QUOTE

blah blah blah.. Same old speech,,just another day. I have seen great reps from Ascent be there one day and gone the next. This story is b.s. great effort though...
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Anonymous said:
People who bash the idea see the lack of talent Stryker inherited from Ascent. Once all the Ascent Management people are sent packing (Andy M in Philly to name one) then the sky is the limit for this division. It is a great idea at the right time! Just the wrong bozos leading!

Stryker does not spend a 1/2 billion dollars on company for giggles.
Click to expand...

Wow Andy M!
 








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