Hunt Valley, MD - May 26, 2023 - Kermit, Your Implant Spend Management Experts TM, today announced its partnership with Orthopaedic Associates of Michigan Surgery Center at Midtowne (OAMSC), making OAMSC the first ambulatory surgery center to leverage Kermit's cutting-edge technology and strategic advisory services, driving unprecedented savings in implant costs.
"We are thrilled to welcome Orthopaedic Associates of Michigan Surgery Center as a valued Kermit client, and we are eager to support their savings objectives while optimizing their processes for sustained success," said Rich Palarea, CEO of Kermit.
Kermit will implement implant spend management strategies specifically designed for OAMSC's total joint and sports medicine surgical service lines, two of the 27 service lines in Kermit's portfolio.
The comprehensive Kermit process begins with meticulous data analysis and progresses into a streamlined request-for-proposal process, expertly managed in direct collaboration with implant vendors. By leveraging industry benchmarks, Kermit ensures that OAMSC secures fair pricing agreements that maximize cost efficiency. Subsequently, Kermit deploys its state-of-the-art technology, automating the review and approval process of surgical billing while digitizing a previously paper-based process. This innovation empowers OAMSC's staff to save valuable time and identify additional avenues for savings.
Projections indicate that OAMSC stands to achieve a 17% reduction in their previous implant costs.
“As more and more elective procedures move to outpatient settings like what we have here at OAMSC, it is essential that we take a close look at the financial impacts and find innovative ways to produce savings without jeopardizing patient outcome and care,” said Jessica Rodriguez, Executive Director for OAMSC. "Kermit has a proven track record of delivering substantial implant savings for hospitals and health systems, and we eagerly anticipate achieving similar outcomes for OAMSC.”
"With the rapid migration of elective surgeries to ambulatory surgery centers and the increasing investments made by health systems in this domain, implant cost reduction and spend management initiatives present an unprecedented opportunity for healthcare leaders," said Palarea. "We are proud to have Orthopaedic Associates of Michigan Surgery Center, an esteemed organization, as Kermit's inaugural ambulatory surgery center client."
According to current projections, up to 85% of elective surgeries are expected to be performed in outpatient settings such as ambulatory surgery centers by 2025. OAMSC's forward-thinking collaboration with Kermit demonstrates their commitment to embracing this evolving landscape and leading the way in cost-effective implant spend management.
For media inquiries or further information, please contact:
Director of Marketing
Kermit is the leading provider of implant spend management solutions, empowering healthcare organizations to optimize their procurement processes and achieve substantial savings. With a comprehensive suite of purpose-built technology and strategic advisory services, Kermit helps clients streamline operations, enhance financial performance, and deliver exceptional patient care.
About Orthopaedic Associates of Michigan Surgery Center:
Orthopaedic Associates of Michigan Surgery Center (OAMSC) is a prominent ambulatory surgery center based in Grand Rapids, Michigan. With a dedicated team of renowned orthopaedic surgeons and state-of-the-art facilities, OAMSC offers exceptional surgical care to patients, specializing in various musculoskeletal conditions and procedures.