How Does A Vendor Implant Recall Affect Your Financial Performance?

Richard Dormer,MHA

November 4, 2014

Under Stryker’s recent settlement, Stryker will provide a base payment of $300,000 to patients that received the Rejuvenate or ABG II hip systems and underwent revision surgery by November 3, 2014, to remove and replace the devices. (READ MORE HERE)

When we see news releases such as this from a major orthopedic reconstructive vendor, we always ask – how does this impact hospitals? These are the following questions hospitals must consider:

  • Do you have a policy in place that addresses recalls?
  • Do you have a communication plan to speak with Physicians and Manufacturers?
  • Do you understand reimbursement implications?
  • Do your managed care contracts exclude payments for recall surgeries?

If your hospital is impacted by an implant recall please call VIE, as we have a validation process to ensure that you are not financially negatively impacted. VIE can also provide your hospital with talking points for a manufacturer discussions to ensure your hospital is not losing revenue which can impact your profits. Call (732) 359-7646 Ext. 503 to speak with me today.

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