Financial
ANOVA Orthopaedic Solutions Announces Patent Application for Processes that Reduce Costs, Increase Hospital-Physician Alignment, and Improve Efficienc
BRENTWOOD, Tenn. – ANOVA Orthopaedic Solutions announced the filing of a non-provisional patent application providing methods that result in reduced costs, increased surgeon alignment, and improved efficiencies across the orthopedic supply chain and facility orthopedic service lines. The filing is entitled: A METHOD FOR COLLECTING AND MANAGING DATA AND PROCESS REQUIREMENTS OF THE MEDICAL DEVICE SUPPLY CHAIN AND PERIOPERATIVE SURGICAL SERVICES FOR FACILITIES AND CONVERSION OF THAT DATA INTO SYSTEMS THAT REDUCE COSTS AND IMPROVE EFFICIENCIES “We believe the methods and processes described in this pending patent represent game-changing, paradigm shifting approaches to the orthopedic supply chain and perioperative processes that reduce costs and inefficiencies and maintain quality,” said ANOVA founder and CEO, Walter Spires. “The healthcare environment is rapidly changing and will continue to do so in the face of reform and economic pressure. All sides of the “orthopedic triangle” (surgeons, facilities, and implant companies) find themselves deeply entrenched in what has become an expensive, inefficient model that is not sustainable in this cost-sensitive economy that also demands quality outcomes. Those demands dictate the need to modify our approaches to the orthopedic supply chain and facility perioperative processes. Having begun my orthopedic career more than thirty years ago and been part of management teams with implant, facility, and surgeon management companies, I am convinced it is possible to adapt to changing market conditions and deliver quality patient care efficiently while reducing costs. We believe the contents of our pending patent represent significant advances toward achieving those goals.” While details of the pending patent are confidential, ANOVA has had success executing the business model for more than two years. With millions of baby boomers and their parents lining up for more care and services that will strain an already overburdened system, ANOVA considers the model both timely and strategic. Spires said, “Facilitating change is a difficult assignment. Some stakeholders resist because change can be painful. We believe we have created a path to help facilitate some of the requisite changes. We are pleased to have demonstrated success that validates our model and methods.”