The costs and benefits of innovative medical technology
 

Charged with cutting costs 10%, 15%, 20% or more, today�s materials management professional knows that knocking a few pennies off a contract price just won�t cut it anymore. Today�s environment calls for bolder solutions.

That�s why many materials managers place greater stock today in concepts such as product standardization and utilization control than in purchase price. But what about technology?

It seems like technology has always been the black hole. It�s where all the money goes after someone sees a new gadget at a trade show.

Given the schedules most health care professionals carry today, it�s difficult to take the time to truly assess vendors� claims about the clinical efficacy and cost-effectiveness of innovative technology. Sometimes it�s easier to simply dismiss them, or to close your doors to all technology vendors.

But in today�s competitive environment, where payers and consumers are more knowledgeable about technology and standards of care than ever before, you might be paying a stiff price by closing the door to new technologies -- or waiting until your competitor down the street adopts them.

Consider some of the following which, when they were first introduced, were on the cutting edge of technology. Today, they represent the standard of care:

• The titanium suture anchor, which revolutionized soft-tissue reattachment procedures. It reduced time in surgery, time in rehab and the number of revision surgeries.

• Patient-controlled analgesic devices, which put pain control into the hands of patients. It created lower drug-delivery costs and quicker patient rehab and discharge. The PCA system also helped fuel the growth of home health care.

• Blood filtration devices, which delivered a new level of protection against infections, adverse reactions to blood transfusions and a reduced incidence of complications in open heart surgery.

• Convective warming devices for surgical patients, which reduced OR time, blood loss, infections and patient length-of-stay.

• Pulse oximetry, which, by giving beat-to-beat blood oxygen levels, has saved thousands of lives and reduced health care costs dramatically.

If there�s one thread throughout these examples, it is this: These technologies have improved patient care and reduced health care costs.

In today�s market, it�s a given that unit prices must be as low as possible. But because new technology can sometimes bring patient care to a new level, it�s difficult to compare "apple-to-apple" prices with existing devices and procedures.

That�s why you need to work with vendors who can take the time to demonstrate the ramifications on your facility of innovative technologies. You need vendors who respect your mission of providing exceptional patient care at the lowest possible cost. And you need someone who will be there when you need him or her � time after time.

You need the members of IMDA.

Chances are, you already do business with one of IMDA�s 100 members throughout the country.

We are local, independent companies that specialize in bringing to market innovative technologies, either from start-up companies or well-established players. We carry relatively few lines, so we know each of them intimately. Our representatives are technically adept, so they can demonstrate to you and your clinicians how to maximize the benefits from the devices you purchase.

Yes, our logistics capabilities are superb. Next-day delivery is typical, and most of our members are EDI-capable. But our greatest value to you is our knowledge of how innovative technology can help you accomplish your goals of improving patient care, cutting costs and excelling in today�s managed care environment.

For commodity products, call your general-line distributor. For new, cost-effective technologies, rely on specialty sales and marketing organizations. Rely on IMDA members.

Copyright � 1997 IMDA.