Here are eight things for spinal surgeons to know for March 1, 2018.
NuVasive 2017 revenue breaks $1B
NuVasive shared its 2017 fourth quarter and full-year financial results. The company's revenue saw a 7 percent boost to $1.03 billion in 2017. For 2018, NuVasive expects revenue between $1.095 billion and $1.105 billion. Read more from the financial report, here.
Globus Medical sees 2017 sales of $636M
Globus Medical reported its 2017 fourth quarter and full-year financial results. Global sales hit $636 million, a 12.8 percent boost from 2016. The company made its first sales of the ExcelsiusGPS robotic and navigation system, introduced nine spine products and earned 10 FDA clearances for trauma systems in 2017. Read more from the financial report, here.
K2M, International Spine Study Group Foundation join forces for spine data collection
K2M is teaming up with the International Spine Study Group Foundation for a data management initiative. K2M licensed its BACS Data Management tool to ISSGF for spine patient data collection, inclusive of patient-reported outcomes measures. The BACS Data Management tool is a cloud-based data collection and operative reporting system that tracks outcome metrics.
Eye surgeon gets 17 years for defrauding Medicare at least $73M
South Florida ophthalmologist Salomon Melgen, MD, received a 17-year sentence Feb. 22 for stealing at least $73 million from Medicare, the SunSentinel reports. Dr. Melgen was previously convicted of 67 crimes, including healthcare fraud, submitting false claims and falsifying records in patients' files. He has been in custody since his April 28, 2017, conviction. Dr. Melgen was ordered to pay $42.6 million in restitution to Medicare; he could be ordered to pay more in the future. Read more about the case, here.
Orthofix 2017 net sales hit $433.8M; spine reaches $82M
Orthofix International reported its fourth quarter and full-year financial results for 2017. Full-year net sales reached $433.8 million, a 5.9 percent increased compared to 2016. The spine fixation segment reached net sales of nearly $82 million, an 8.3 percent jump from 2016. Read more from the financial report, here.
Study: spine surgeons win 75% of malpractice lawsuits
A retrospective study in The Spine Journal evaluated all publicly available spine surgery malpractice case outcomes between 2010 and 2014. The verdict favored the surgeon defendant in 77 — 75 percent — of the 103 cases. For the 26 cases won by the plaintiff, the average settlement amount was $2,384,775. Read more, here.
Dr. James St. Louis expands to Saturday hours for outpatient procedures
Since adding spine in January, Physician Partners of America has seen such demand for procedures that James St. Louis, DO, will add Saturday office hours beginning March 3. Dr. St. Louis joined PPOA in January and has already performed 50 outpatient spine procedures. Throughout his career, Dr. St. Louis has performed thousands of outpatient spine surgeries; he is a founder of Laser Spine Institute.
Orthopedic surgeon dies in plane crash while traveling between offices
While traveling to his practice in Yuma, Ariz., orthopedic surgeon John Serocki, MD, died after his single-engine plane crashed into a building in Kearny Mesa, Calif., according to NBC San Diego. Along with operating three private practices, Dr. Serocki was a surgeon at Scripps Memorial Hospital La Jolla (Calif.) and Otay Lakes Surgery Center in Chula Vista, Calif.