Here are eight things for spinal surgeons to know for Feb. 19, 2015.
Dr. Allen Sossan accused of unnecessary spine surgery
South Dakota-based spine surgeon Allen Sossan, MD, has been accused of performing "unnecessary surgeries and unprofessional conduct." There were two federal cases and several other lawsuits brought by former patients and patients' family members. Former employees have also accused Dr. Sossan of fraudulent billing.
SGR fix carries $174.5B price tag, CBO says
Replacing Medicare's sustainable growth rate formula, as proposed in bipartisan legislation last year, would cost $174.5 billion from fiscal year 2015 to fiscal 2025. Through the two identical pieces of legislation introduced in the U.S. Senate and House in 2014, lawmakers are attempting to implement a permanent replacement to the SGR.
Medtronic's BMP revenue up again — 9%
Medtronic reported revenue growth in the third quarter of the 2015 fiscal year as the company moves forward with its Covidien acquisition. In particular, BMP revenue was up; it increased 9 percent to $122 million in the last quarter. In the second quarter of the 2015 fiscal year, BMP revenue was up 5 percent to $120 million.
$15.3M net loss for Mazor in 2014, what does 2015 hold?
Mazor Robotics reported more systems sold and utilization growth in 2014. The full year net loss for 2014 was $15.3 million, or $0.37 per share, down from the $20.5 million reported in 2013. The change is due to the decreased financing expenses which were offset by an increase in operating expenses attributed to the continued investment in sales and marketing.
Biomet co-founder Dane Miller passes away
Biomet co-founder Dane Miller, PhD, has passed away. He served as CEO of the company from 1977 to 2006. Under his leadership, Biomet grew from earning $17,000 in revenues in 1978 to more than $2 billion in sales in 2006.
In-office ancillaries under attack
The Department of Health and Human Services hinted at limiting the in-office ancillary services exemption in the Fiscal Year 2016 proposed budget. Opponents say the in-office ancillary services exemption has caused to over-utilization and rapid growth in these services.
Global surgical navigation systems market to reach $295.5M by 2020
The market was valued at $218.5 million in 2013, and it is expected to grow at a compound annual growth rate of 4.5 percent from 2014 to 2020.
Insurance status a factor in adolescent scoliosis surgery
A group of researchers examined the Healthcare Cost and Utilization Project Kids' Inpatient Database for 2000, 2003, 2006 and 2009 for patients under 18 years old who underwent surgery for idiopathic scoliosis. Researchers found that the patients with private insurance were more likely to undergo surgery than Medicaid patient.
More articles on spine:
Dr. Khawar Siddique buys $24M building for practice expansion
SpineCARE's Dr. Douglas Won implements Lumini micro-invasive surgery
Spinal implant material matters: What titanium can do for you (and your patients)