The medtech giant has launched a new orthopedics business centering on Medtronic Orthopedic Solutions, which includes a host of offerings meant to help health providers drive outcomes.
Medtronic on Thursday announced the launch of its Orthopedic Solutions Business, a Total Knee Arthroplasty System, and a Medtronic Orthopedic Solutions package meant to help health providers succeed under the new bundled payment models being rolled out by both public and private health insurers.
The new ortho business' results will be reported as part of Medtronic's Spine division within its Restorative Therapies Group. The Total Knee Arthroplasty System itself is expected to be widely available by early 2017.
"Medtronic is here to help speed the adoption of value-based healthcare in orthopedics by helping hospitals drive down costs while keeping outcomes top of mind," Geoff Martha, executive vice president and president of Medtronic Restorative Therapies Group, said in a news release.
"Our technological and operational efficiency know-how--along with our insight into the various points along the care continuum--helps us develop effective solutions, tailored to client needs. And we back this up by sharing potential savings with our customer, which means we get paid if our program is successful in reducing episode costs for customers," Martha said. "This is about more than just offering implants or individual technologies and services; it's about partnering with all stakeholders throughout the entire episode of care to enable patient-centered care at the best value."
Medtronic Orthopedic Solutions will include such products and services as:
- Care Pathways: a patient-focused program to uncover opportunities to reduce costs and improve outcomes;
- Patient Monitoring with Medtronic Care Management Services (MCMS): remote patient monitoring and engagement services to help patients effectively recover at home;
- Total Knee Arthroplasty System: an FDA-cleared knee implant designed to promote cost savings;
- Bleeding Control with the Aquamantys system: the established Medtronic technology uses radiofrequency energy and saline to provide hemostatic sealing of soft tissue and bone.
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Chris Newmarker is senior editor of Qmed. Follow him on Twitter at @newmarker.
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[Image of Medtronic Total Knee Arthoplasty System courtesy of Medtronic]