LONDON, Nov. 8, 2016 /PRNewswire/ -- Smith &
Nephew (NYSE: SNN; LSE: SN), the global medical technology
business, announces that the U.S. health and wellness organization,
Provider PPI LLC, has adopted its Episode of Care Assurance Program
(eCAP), an innovation designed to mitigate risk associated with
readmissions in value-based healthcare reimbursement models.
Provider PPI LLC is a subsidiary of Highmark Health that provides
group purchasing benefits to the hospitals of Allegheny Health
Network and 60 additional healthcare providers in the western
Pennsylvania region.
Unplanned readmissions are costly to hospitals, surgeons and
patients and can result in significant financial implications under
the Comprehensive Care for Joint Replacement Model (CJR) and
Bundled Payments for Care Improvement (BPCI) initiative. For
patients, an unplanned readmission can turn an elective procedure
into an emergent procedure, complicating and extending the 90-day
episode of care. For hospitals and surgeons focused on value, as
defined by quality outcomes achieved through efficiency, unplanned
readmissions can negatively influence overall quality scores.
"We are excited about the significant value that Smith &
Nephew's Episode of Care Assurance Program will bring to our member
hospitals," said Paul Gallagher, VP,
Provider PPI. "Joint replacement and wound care are
important, busy clinical service lines for most every hospital in
our group and this unique program provides an added level of
quality assurance and cost control to their associated bundled
payment protocols."
The eCAP initiative pairs together Smith & Nephew's entire
line of primary total hip and knee reconstructive systems with two
of its most innovative wound care products: PICO™ Single Use
Negative Pressure Wound Therapy and ACTICOAT™ Flex 7 Silver-coated
Antimicrobial Barrier Dressing. Smith & Nephew warrants the
performance of its primary total knee systems, primary total hip
systems, PICO Single Use Negative Pressure Wound Therapy System and
ACTICOAT Flex 7 to perform as expected. If a patient is readmitted
within 90 days following a procedure for a surgical site infection
or to revise the implant due to a failure of a Smith & Nephew
product, Smith & Nephew will pay a hospital's unreimbursed
costs for the readmission up to the purchase prices of the implant,
PICO and ACTICOAT Flex 7.
This pioneering program can provide value and help to improve
quality associated with lower extremity joint reconstruction
surgery (LEJR). Building strong partnerships with healthcare
institutions and providers is the core of Smith & Nephew's
mission and has been a central pillar of the company for over 160
years. By providing viable solutions in healthcare, Smith &
Nephew supports healthcare professionals in their daily efforts to
improve the lives of patients.
About Smith & Nephew
Smith & Nephew is a
global medical technology business dedicated to helping healthcare
professionals improve people's lives. With leadership positions in
Orthopaedic Reconstruction, Advanced Wound Management, Sports
Medicine and Trauma & Extremities, Smith & Nephew has
around 15,000 employees and a presence in more than 100 countries.
Annual sales in 2015 were more than $4.6
billion. Smith & Nephew is a member of the FTSE100 (LSE:
SN, NYSE: SNN).
For more information about Smith & Nephew, please visit our
website www.smith-nephew.com, follow @SmithNephewplc on
Twitter or visit SmithNephewplc on Facebook.com.
Forward-looking Statements
This document may
contain forward-looking statements that may or may not prove
accurate. For example, statements regarding expected revenue growth
and trading margins, market trends and our product pipeline are
forward-looking statements. Phrases such as "aim", "plan",
"intend", "anticipate", "well-placed", "believe", "estimate",
"expect", "target", "consider" and similar expressions are
generally intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause actual
results to differ materially from what is expressed or implied by
the statements. For Smith & Nephew, these factors include:
economic and financial conditions in the markets we serve,
especially those affecting health care providers, payers and
customers; price levels for established and innovative medical
devices; developments in medical technology; regulatory approvals,
reimbursement decisions or other government actions; product
defects or recalls or other problems with quality management
systems or failure to comply with related regulations; litigation
relating to patent or other claims; legal compliance risks and
related investigative, remedial or enforcement actions; disruption
to our supply chain or operations or those of our suppliers;
competition for qualified personnel; strategic actions, including
acquisitions and dispositions, our success in performing due
diligence, valuing and integrating acquired businesses; disruption
that may result from transactions or other changes we make in our
business plans or organisation to adapt to market developments; and
numerous other matters that affect us or our markets, including
those of a political, economic, business, competitive or
reputational nature. Please refer to the documents that Smith &
Nephew has filed with the U.S. Securities and Exchange Commission
under the U.S. Securities Exchange Act of 1934, as amended,
including Smith & Nephew's most recent annual report on Form
20-F, for a discussion of certain of these factors. Any
forward-looking statement is based on information available to
Smith & Nephew as of the date of the statement. All written or
oral forward-looking statements attributable to Smith & Nephew
are qualified by this caution. Smith & Nephew does not
undertake any obligation to update or revise any forward-looking
statement to reflect any change in circumstances or in Smith &
Nephew's expectations.
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