Alright – so today we’ve got the honor of introducing you to Itai Nemovicher. We think you’ll enjoy our conversation, we’ve shared it below.
Itai, thanks for taking the time to share your stories with us today Let’s start with a story that highlights an important way in which your brand diverges from the industry standard.
The fundamental difference between OIC and the rest of the industry is that we aim to provide the highest value possible for orthopaedic implants and devices. In most instances, this means halving device cost for the most commonly conducted surgeries, like hip and wrist fractures. US healthcare is broken and it works to support artificially high supply costs, whether products are commodities or innovative.
We chose to challenge the system instead of contributing to its dysfunction. We started this company over 12 years ago and the mission has not changed. Thankfully, US healthcare is. Co-management and gainshare agreements between surgeons and facilities, as well as the rising popularity of ambulatory surgery centers in which surgeons have a vested fiscal interest are bringing the importance of value to the forefront. When we founded the company, this alignment was just starting to become visible. Now, it’s everywhere. Other vendors are either making vailed attempts to deliver better value or simply just have the blinders on.
Itai, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?
I’ve been in this industry for over 20 years. I was introduced to it while working during my college years as an EMT. Admittedly, I was a bit taken back by how lucrative the world of orthopaedic implants could be for a sale representative. And, with the role’s clinical component of attending the OR, I knew I had found my calling. Over several years, I worked my way up to become a sales manager for a local distributor carrying a portfolio of orthopaedic devices and implants. I was successful and enjoying my career but that changed quickly as I began to learn about how much these devices cost to make and how much they were being sold for.
I mentioned this to a surgeon and we shared in the disbelief and disappointment. At that moment, I wondered if I could make a difference. The surgeon, who is now my founding partner, thought I could and encouraged me to start OIC with his help. We chose trauma for several reasons. Emerging care doesn’t afford the patient time nor the capacity to advocate for themself prior to receiving care. I guess we’re the first vendor to advocate for outcomes and value, in that sense. The other primary driver was being able to amass outcomes data relatively quickly to validate our value proposition. Within months, plates, rods, and screws have done their job or haven’t. We’ve been fortunate, since the beginning, that studies have been published on our outcomes, across our portfolio. It’s made us the only clinically-proven, high value implant brand on the market today.
In 2011, we hit the market with the first of our high-value orthopaedic trauma implants and we’ve been at it ever since. Over the years, we’ve designed and produced a portfolio of implants indicated for about 75% of fractures that commonly present in the ER. We have customers across the country ranging from large, academic trauma centers to rural outpatient facilities. And, many have been customers for years which is incredible testament in and of itself. Our value proposition matters. It’s making a difference.
I am immensely proud of the team we have here. Together, we’ve done a lot. As a small business, we’ve had to be resourceful while maintaining a growth mindset. It’s never easy. But it’s possible when you have the right people around you.
What do you think helped you build your reputation within your market?
Without question, building a reputation based on quality and value has its challenges, especially in healthcare. When OIC first launched, there were several other high-value orthopaedic implant vendors. Today, we are the only high-value vendor in the market and we owe a lot of it to independent, clinical studies. Throughout the years, studies have been published comparing the clinical and economic impact of using OIC implants and comparable devices offered under premium brands. These studies shed a lot of light on the efficacy of using high-value implants. The conclusion found in all the studies across our portfolio manifested as the proof that you can substantially reduce cost at absolutely no detriment to clinical outcomes. To my knowledge, no other high-value vendor’s implants were the subject of such studies.
Have you ever had to pivot?
The intramedullary nail is a commonly used device to treat large bone fractures. It is a long metal tube with strategically placed holes at both ends that is inserted into the canal of a bone. Screws are passed transversely through the bone and nail, fixing the device in place. Individual, sterile-packed nails and corresponding screws are the industry standard. When we released our first IM nail system, we followed that standard which adds time and considerable cost to a supply chain. If we went against the grain and placed all of the implants in trays that could be washed and sterilized, we could gain even more of a competitive edge, improving our margins while also lowering the price to facilities. As a small company back then, I can’t overstate the weight we all felt in considering this change. Well, we decided to go for it. We placed all of the implants into conventional trays and held our breath. Low and behold, the decision was a good one. Overwhelmingly positive feedback poured in from the field from surgeons and staff alike. It was reported that a lot of time was being saved by eliminating opening elaborate packaging. Also, surgeons liked being able to see the selection of sizes in front of them. No one had to leave the OR to retrieve the one nail length that wasn’t on the cart in the OR. And, we reduced a lot of waste.
Contact Info:
- Website: www.orthoimplantcompany.com
- Facebook: https://www.facebook.com/OrthoImplantCompany
- Linkedin: https://www.linkedin.com/company/the-orthopaedic-implant-company/mycompany/?viewAsMember=true
- Twitter: @OrthoImplantCo