ORLANDO & ST. LOUIS–(BUSINESS WIRE)–Orchid Medical Inc. announced it has formed a strategic partnership with Medical Implant Solutions, LLC (MIS) to deliver a program that substantially reduces the cost of implantable surgical devices to workers’ compensation payers.
The Surgical Cost Containment Program (SCCP) leverages the competency of both companies. It employs MIS’s experience in controlling over-utilization of implantable devices and ability to influence the cost of the medical device through direct contracts with the manufacturer. SCCP also leverages Orchid Medical’s proprietary OMNI™ system, along with its operational and sales expertise to deliver SCCP to the payer cost-effectively.
“Our partner program brings the workers’ compensation industry a dynamic solution for one of the most cost-inflated areas of medical treatment for injured workers,” said Brian Carwile, CEO of Orchid Medical, who notes that mark-ups on medical implantable devices can be up to 300%, creating a major cost driver in workers’ compensation surgical claims.
Carwile, who has spent the last 10 years delivering ancillary services to the workers’ compensation market aimed at helping payers contain costs, said he is excited to bring this synergistic solution to payers.
By uniting MIS’s direct contracting ability, medical expertise, hospital relationships and billing validation capability with Orchid Medical’s cost-effective and customer-focused delivery system, SCCP provides medical implants at considerable savings, and without interrupting patient care.
With over 30 years as a practicing orthopedic surgeon, George R. Schoedinger III, MD, CEO of MIS, has devoted himself to utilizing physician leadership to improve the quality, efficiency and affordability of health care.
Schoedinger’s medical experience and passion is the force behind MIS’s business model. The model focuses on reducing unnecessary expense of implantable medical devices through lowering out-of-pocket costs, and providing economic validation for both the implant and physician through prospective and retrospective audits to prevent inappropriate or incorrect billing.
“The Orchid partnership takes the MIS model one step further by engaging a cost-efficient delivery system that aligns with my commitment to reduce the cost of surgery prevalent in workers’ compensation injuries,” he said.