Smith & Nephew's OXINIUM™ Technology for Hips could save the US Health System an estimated $296 Million in 2020
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.
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.
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.
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.
SOURCE Smith & Nephew
Company Codes: NYSE:SNN, LSE:SN