MedPassage has created an Amazon-like market for implantable medical devices.
This online market services a segment of the medical device market that MedPassage has identified values lower prices over sales support in the operating room, which is currently an industry norm. By using MedPassage and foregoing in-person sales support, medical center members gain access to FDA approved implants at prices 40 – 60% below industry averages.
These implant savings address a major pain point for US medical centers, which are experiencing declining reimbursement rates for their surgical services. Especially at surgery centers, where physicians are business owners and directly incentivized to lower implant costs, we are seeing rapid adoption of MedPassage. As of June 2013, MedPassage has 6% of all US surgery centers on contract.