Zimmer Biomet ($ZBH) is rolling out what it calls its Signature Solutions, a package of services that includes consulting and supporting technology aimed at helping hospitals and clinics cut costs while providing improved outcomes for patients.
The suite, which set its roots at Zimmer in the mid-1990s, is targeting the growing movement in the industry to embrace what is called “value-based” healthcare. In other words, government and insurance carrier efforts for reducing the costs of healthcare.
For example, two major mandates for cost cutting were launched in the U.S. last year. Those were the Comprehensive Care for Joint Replacement act and the Medicare Access and CHIP Reauthorization Act of 2015, the company said. The movement is also being seen in Europe and Canada as well, both of which have passed similar policies aimed at determining reimbursement based on patient and health economic outcomes.
"Signature Solutions will encapsulate our exclusive and extensive knowledge of the new healthcare landscape into the first end-to-end suite of clinical services, technologies and proprietary analytical tools, which are designed to work seamlessly with the institutions' existing infrastructure to improve quality outcomes, provide more efficient care and increase provider throughput,” David Dvorak, Zimmer’s president and CEO, said in a statement.
In the first phase of the Signature Solutions rollout, the company said it will offer the package to musculoskeletal healthcare operations at select, academic facilities in the U.S., with a broader release expected to come next year.
The package includes engagement tools to help educate patients about the procedure and treatment options in hopes they follow pre-op, intra-op and post-op/rehab protocols; data collection and analysis to better follow patient outcomes like overall satisfaction with care, pain management, etc.; and consulting services to improve overall productivity, efficiencies and streamlining protocols.
Biomet said it has advised more than 450 hospitals and healthcare facilities globally on how to improve the value of their musculoskeletal programs by providing better care, lowering costs and increasing the number of patients treated.
- here’s the release
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