SpineMark Corporation’s President and CEO, Marcy T. Rogers provides an overview of her company’s spine center of excellence model that combines high-quality, patient-focused care with state of the art technology and advances in research.
What is SpineMark Corporation?
Established in 2004, SpineMark is developing a national and international network of spine care centers providing research, education and integrated operative/non-operative spinal services in a manner that focuses on high patient and physician satisfaction, customer service and quality. "Our specific business strategy is to brand premier spine care centers in target markets by partnering with physicians, healthcare facilities and research companies and providing a consumer-driven product," explains Rogers. With the first spine care center opening later this year in Denton, TX and eight more centers under development, each center will utilize a multi-disciplinary team of experts to provide a full spectrum of spine services including surgical, imaging, chiropractic, rehabilitation, nutrition, diagnostic, pain relief and other ancillary services. The development of a total of thirty-five centers with associated organizations for conducting research via Food and Drug Administration ("FDA") trials is planned over the next five years.
Who are SpineMark’s Partners?
SpineMark seeks partners and equity relationships that are integral to developing spine centers in its target markets. SpineMark’s clinical partnering model is used as a reference point to create a unique partnership between the parties for both clinical care and research. Generally, all partners hold an equity interest in the center. Partners can include, but are not limited to:
Physicians and physician practices that want comprehensive, multidisciplinary spine services for their patientsunder the umbrella of a center of excellence model;
Profit and nonprofit hospital systems interested in strategic partnership; and
Free standing facilities, such as ambulatory surgery centers ("ASCs"), wishing to develop spine as a key product line in their centers. "With an enormous outpatient component and a host of minimally invasive spine surgeries that are performed, ASCs are a good candidate for partnership," adds Rogers.
Currently SpineMark is working with Cirrus Health, Titan Healthcare and is receptive to forming other partnerships.
Is There a Demand for SpineMark?
While there is nothing new about spine centers, the demand for them has never been greater. Research provided to SpineMark by third party advisory groups such as Sg2 and The Advisory Board predict huge growth with more than 1,100,000 spine surgeries for 2014, a fifteen percent annual growth rate and $2.5 billion in annual major spinal procedure revenue, reports Rogers. "The Internet and patient demand, along with new technologies that translate to shorter surgical and recovery times and procedures that can be performed in an outpatient setting, has fueled a surge in the industry and we are at the forefront of that movement," she adds.
How Will SpineMark Lead the Industry?
In addition to its myriad of spine services, SpineMark centers also incorporate a clinical research arm or spine research organization (SRO™) under SpineMark CRO Management, Inc. By offering medical device manufacturers a network of dedicated sites for FDA trials, SpineMark centers will have access to the latest technological and surgical advances and spine care products. Access to these features will promote high patient and physician satisfaction and improve the quality of care and cost efficiencies. "By utilizing a ‘pull strategy’ that encourages research, development and FDA approval, we want to get new biomaterials, devices and techniques to market more quickly and into the hands of our physicians and patients," explains Rogers.
How Are SpineMark’s Network of Centers Linked?
One of the cornerstones of SpineMark’s projected clinical and financial success is the development of advanced information technology systems for clinical centers and research programs. The clinical operating system (COS) will link the network of centers. The system is designed to improve operating efficiencies, patient satisfaction, clinical care, ancillary product development and financial performance. To this end, it can be utilized by each of SpineMark’s centers to assist in clinical care, research, cost and clinical outcome collection and reporting, marketing,
training, billing and financial services and other applications.
What is the Primary Key to SpineMark’s Success?
With a business strategy designed to ensure top-quality care and patient and physician satisfaction, proactive marketing is ultimately the biggest key to success. Marketing efforts are directed at physicians, affiliated providers, healthcare systems and hospitals, medical device and pharmaceutical companies, payors, patients and employers in an effort to educate the major participants about the centers, their services, cost savings and other benefits. "Through diverse marketing techniques, SpineMark can effectively reach its target audience in order to recruit physicians, attract patients and employers, attain primary care physician referrals, contract with payors, obtain medical device and pharmaceutical sponsors, partner with hospitals, ASCs and other healthcare facilities, amongst many other goals," explains Rogers.
Source:
Marcy T. Rogers, M.Ed.: President and Chief Executive Officer, SpineMark Corporation, Management Technology Resources, 8910 University Center Lane, Suite 650, San Diego, California 92122; (858) 623-8412; mrogers@spinemark.com; www.spinemark.com.
