LONDON, May 22, 2019
/PRNewswire/ -- Smith & Nephew (LSE: SN, NYSE: SNN), the global
medical technology business, today presented new data at the
International Society for Pharmacoeconomics and Outcomes Research
(ISPOR), Annual Meeting in New
Orleans. This data, presented for the first time, compared
90-day episode of care outcomes for its proprietary OXINIUM™,
Oxidized Zirconium alloy, bearing surface with all other
non-OXINIUM bearing surfaces for total hip replacement surgery. Key
takeaways included:
- OXINIUM reduced post-acute average cost per 90-day episode
of care by $595
(9.88%)1 helping providers in bundled payment systems.
These savings are the result of lower use of Skilled Nursing
Facilities (SNFs), fewer related hospital readmissions, and less
time in inpatient rehabilitation.
- When compared to patients implanted with all other bearing
surfaces, those implanted with OXINIUM demonstrated:
-
- 21.3% lower rates of 30-day all cause
readmissions1,
- 12.7% lower rates of 90-day all cause
readmissions1,
- 15.9% lower rates of discharge to skilled nursing facilities
(SNFs)1
- 11.9% lower average length of stay in SNFs1,
and
- 34.4% lower revision rate in the first 90 days1
If OXINIUM was used in all US primary hip procedures in 2020,
projected volume to be 498,0002, there could be an
estimated $296 million savings to the
US health system*.
The study reports on data collected using the Comprehensive Care
for Joint Replacement (CJR) model developed by Centers for Medicare
and Medicaid Services (CMS) to improve outcomes through a bundled
payment model. Recognition by CMS of OXINIUM as a unique bearing
surface has enabled this large-scale comparison of OXINIUM versus
non-OXINIUM bearings for the first time.
Patients have a higher risk for postoperative complications and
readmissions when discharged to a skilled nursing facility compared
with patients discharged to home3. With the
increased emphasis on quality and value, readmission rates are an
important indicator for quality of patient
care4.
"Smith & Nephew is committed to helping patients live a Life
Unlimited. This comes to fruition through innovative technologies,
like the OXINIUM hip bearing surface, that lead the way in
healthcare by reducing the economic burden of
readmissions1 and helping patients return home
sooner1," said Mike
Donoghue, Smith & Nephew Senior Vice President of Global
Orthopaedics.
OXINIUM femoral heads launched in 2002 and have now been
implanted over 700,000 times worldwide5.
About OXINIUM
More than two decades ago, Smith & Nephew introduced
OXINIUM™ Oxidized Zirconium. This patented metal alloy
is available for many of our knee and hip implant
systems.
About Smith & Nephew
Smith & Nephew is a portfolio medical technology business
that exists to restore people's bodies, and their
self-belief. Smith & Nephew has leadership positions in
Orthopaedics, Advanced Wound Management and Sports Medicine, more
than 16,000 employees and a presence in more than 100 countries.
Annual sales in 2018 were $4.9
billion. Smith & Nephew is a member of the FTSE100
(LSE:SN, NYSE:SNN). For more information about Smith & Nephew,
please visit our corporate
website www.smith-nephew.com and follow us
on Twitter, LinkedIn or Facebook.
Forward-looking Statements
This document may contain forward-looking statements that may
or may not prove accurate. For example, statements regarding
expected revenue growth and trading margins, market trends and our
product pipeline are forward-looking statements. Phrases such as
"aim", "plan", "intend", "anticipate", "well-placed", "believe",
"estimate", "expect", "target", "consider" and similar expressions
are generally intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause actual
results to differ materially from what is expressed or implied by
the statements. For Smith & Nephew, these factors include:
economic and financial conditions in the markets we serve,
especially those affecting health care providers, payers and
customers; price levels for established and innovative medical
devices; developments in medical technology; regulatory approvals,
reimbursement decisions or other government actions; product
defects or recalls or other problems with quality management
systems or failure to comply with related regulations; litigation
relating to patent or other claims; legal compliance risks and
related investigative, remedial or enforcement actions; disruption
to our supply chain or operations or those of our suppliers;
competition for qualified personnel; strategic actions, including
acquisitions and dispositions, our success in performing due
diligence, valuing and integrating acquired businesses; disruption
that may result from transactions or other changes we make in our
business plans or organisation to adapt to market developments; and
numerous other matters that affect us or our markets, including
those of a political, economic, business, competitive or
reputational nature. Please refer to the documents that Smith &
Nephew has filed with the U.S. Securities and Exchange Commission
under the U.S. Securities Exchange Act of 1934, as amended,
including Smith & Nephew's most recent annual report on Form
20-F, for a discussion of certain of these factors. Any
forward-looking statement is based on information available to
Smith & Nephew as of the date of the statement. All written or
oral forward-looking statements attributable to Smith & Nephew
are qualified by this caution. Smith & Nephew does not
undertake any obligation to update or revise any forward-looking
statement to reflect any change in circumstances or in Smith &
Nephew's expectations.
™Trademark of Smith & Nephew. Certain marks
registered US Patent and Trademark Office.
*Estimates based on the 2019 Risk Adjusted Modeling Results
showing a $595 reduction in
post-acute average cost per 90-day episode of care.
References:
1. Smith & Nephew Oxinium CJR: Risk Adjusted Modeling
Results: Avalere Health, April 2019. Q4 2017 to Q2 2018
Claims from the Medicare Standard Analytic File
2. Singh JA, Yu S, Chen L, Cleveland JD. Rates of Total Joint
Replacement in the United States:
Future Projections to 2020-2040 Using the National
Inpatient Sample. The Journal of Rheumatology. 2019 [epub
ahead of print]
3. Bini SA, Fithian DC, Paxton LW, et al. Does discharge
disposition after primary total joint arthroplasty affect
readmission rates?; The Journal of Arthroplasty.
4. Ramos N., Karia R., et al; The Effect of Discharge
Disposition on 30-Day Readmission Rates After Total Joint
Arthroplasty; The Journal of Arthroplasty.
5. Global Oxinium Sales 1996 - P2 2019: data on file with Smith
& Nephew.
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SOURCE Smith & Nephew