Reimbursement Rates to Have Strong Effect on Adoption of Minimally Invasive Vertebral Compression Fracture Treatments
TORONTO, Feb. 20, 2013 /PRNewswire/ — According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, physicians providing minimally invasive vertebral compression fracture (MIVCF) treatments will be very sensitive in their case volume to any future declines in procedure reimbursement.
Millennium Research Group has produced a Perception Pulse study, Vertebral Compression Fracture Treatments 2013, which analyzes the United States market for both vertebroplasty and vertebral augmentation in detail. The results are based on a survey of 200 physicians in the US who perform these procedures, including interventional radiologists and neuroradiologists, orthopedic surgeons and neurosurgeons, and pain management and physical medicine & rehabilitation specialists.
“Some unfavorable clinical data in the past has made insurers reluctant to reimburse for some of these procedures,” said MRG Senior Analyst Nick Morris. “But it can be hard to quantify the effects of this lack of reimbursement. We’ve performed a sensitivity analysis, and can anticipate how physician case volumes will change if reimbursement rates increase or decrease. Anyone selling into this market will find this analysis essential for planning.”
The latest report also takes a deep dive into the performance of sales forces at vertebroplasty and vertebral augmentation manufacturers. It details what types of sales rep communication physicians consider most important, and assesses how each company’s sales teams perform along six dimensions: overall helpfulness, product and treatment knowledge, professionalism, availability, business and practice knowledge and sales team continuity.
Additional findings of the report include the fact that, while vertebral augmentation carries a higher cost than vertebroplasty, physicians see it as having distinct advantages, and thus consider it equally cost effective.
Despite the fact that these procedures are minimally invasive, most physicians still prefer to perform them in the hospital setting. While some procedures will be moving to ambulatory surgical centers, there will be no big move to perform them in the office setting. Manufacturers will need to keep this situation in mind when marketing to physicians.
Millennium Research Group’s Perception Pulse reports provide unprecedented insight into the behaviors and preferences of those responsible for the purchase and use of medical devices, particularly illuminating why changes are happening in a particular market. Vertebral Compression Fracture Treatments 2013 is an essential tool for companies active in the US MIVCF market and looking to better understand brand perceptions and customer behaviors.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
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SOURCE Millennium Research Group