Reno, Nevada-based Orthopaedic Implant Company (OIC) has announced a partnership with Atlanta, Georgia-based IPG Integrated Surgical Solutions (IPG).
A little over a decade ago, OIC President and Chief Executive Officer Itai Nemovicher was working as a sales manager for an orthopedic manufacturer. His experience left him dissatisfied with the pricing structure for orthopedic products. This frustration led to the creation of OIC.
OIC’s mission is to “lower the cost of orthopaedic procedures by developing more affordable implants with the perfect balance of quality, service and price for surgeons, hospitals and patients.” For the past 10 years, the company has been focused on its mission. For OTW’s coverage of OIC’s recent 10-year anniversary, see “Orthopaedic Implant Company Celebrates 10-Year Anniversary.”
OIC believes that its mission is complimentary to IPG. Both companies “aim to foster a more fair and equitable healthcare environment for patients built on market transparency and appropriate device costs.”
Founded in 2004, IPG is a privately held company providing surgical cost management solutions. IPG has more than 400 health plan clients and facilities throughout the United States. This includes hospitals and surgery centers.
The partnership means that IPG health plan clients and facilities will realize savings associated with OIC implants. Savings which are “passed along to the patient.” This furthers the companies’ shared goal of “providing more price transparency and affordable surgical care.”
Nemovicher told OTW, “The reality right now is that ortho trauma procedures are rapidly shifting from the hospitals to outpatient settings and surgery centers, which will see an increasing number of underinsured and cash-pay patients. And with CMS [Centers for Medicare and Medicaid Services] reimbursement rates changing to reward more value-based initiatives, it’s imperative that surgeons and their facilities have the ability to make more informed decisions about costs for themselves and for their patients, especially when price variations for the same procedures are staggering within and between metro areas across the country.”
Nemovicher continued, “IPG believes what we believe—that in order to change the culture of healthcare, we must actively look for ways to make high quality surgical care more affordable…We have a responsibility to provide implants that can heal patients both clinically and financially. Our partnership with IPG helps us continue to do this.”
Patrick Holland, director of Manufacturing and Implementation with IPG, told OTW, “We are excited to be partnering with OIC. This will allow us to bring more cost-effective, high quality options to sports medicine and trauma patients across the country.”
