Warning: this video contains images from cardiac surgery
According to the American Hospital Association, hospital profit margins are slim: ranging from 4-8%. And payments from government programs are fixed cost and often money losers for the hospital. The average reimbursement for Medicare coronary artery bypass surgery is $31,000*. At year five, Cardiogenerics products would save hospitals $1300 or over 4% per Medicare reimbursed surgery.
CardioGenerics reusable-disposable devices could mean the difference between profit and loss for the average hospital’s cardiac surgery program.
- “Trendwatch Chartbook 2018, Trends Affecting Hospitals and Health Systems” American Hospital Association 2018 pg. 37
- Birkmeyer, J.D. et al. “Medicare Payments for Common Inpatient Procedures” HSR: Health Services Research 45:6 DEC 2010 pg. 1788
Our Solution Versus the Competition
The Market for Reusable-Disposable Medical Devices
The Market for medical devices is over $150 billion dollars per year. CardioGenerics intends to focus initially on the Cardiac Surgery sub markets of Off-pump beating heart surgery and Endoscopic Vein Harvest which are $150 Million and $600 Million markets
Our technology is to decouple single use medical devices into re-usable and disposable components. This is a huge, untapped market in medical devices