The Journal of Managed Care Medicine recently accepted an economic analysis of minimally invasive spinal fusion using Baxano Surgical's AxiaLIF procedure for publication.
Scott Parker, MD, director of the Spinal Column Surgical Quality and Outcomes Research Laboratory at Vanderbilt University and Matt McGirt, MD, of Carolina Neurosurgery and Spine Associates authored the analysis. AxiaLIF, a pre-sacral interbody fusion procedure, is compared to transforaminal lumbar interbody fusion in the analysis.
Four key takeaways from the article show AxiaLIF:
• Lowered cost per procedure by $3,500
• Shortened hospital stays
• Reduced hospital readmission
• Had faster return to work
"This study adds to the growing body of evidence that minimally invasive spine surgery technologies can provide down-stream economic benefits by shortening hospital stay, reducing readmission and accelerating return to work," said Dr. McGirt in a news release. "In many cases, these down-stream cost savings can more than offset the upfront costs of MIS enabling implants and technologies."
The final article will appear in the fall issue of the journal. The Journal of Managed Care Medicine targets an audience of insurance company medical directors who make decisions regarding which technologies to cover.
"We look forward to leveraging this publication as a key part of our dialogue with payer-policy decision-makers," said Baxano Surgical President and CEO Ken Reali. This announcement is just another in a string of accomplishments for the company over the past few months; in June, the company reported the first clinical use of its Avance MIS Pedicle Screw System for non-cervical pedicle fixation.
The company reported first quarter revenue at $4.4 million and a net loss of $0.19 per share. The revenue was slightly below Mr. Reali's expectations, but a revised work strategy was developed to drive the company toward revenue growth and reduced operating expenses. The AxiaLIF revenue was down significantly during the first quarter, only reaching $1.2 million
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