Over 60% Of Americans Will Experience Back Pain At Some Point - FloSpine’s Solution Makes Surgery Easier, Cheaper, And More Accessible
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January 06, 2023 08:05 AM Eastern Standard Time
By Faith Ashmore, Benzinga
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Outpatient and inpatient are entirely different worlds in healthcare. Inpatient care refers to anything that happens in a hospital setting and is designed to provide care for patients who might require overnight care. On the other hand, outpatient facilities are built to accommodate procedures that can be done within a day and require less monitoring afterward.
Outpatient care, where applicable, has lots of benefits for the patient and practitioners alike. Outpatient care is typically much cheaper than inpatient; there are no hidden or additional fees for things like maintaining a large staff and resources. Sometimes it costs thousands of dollars more for inpatient care versus outpatient. Patients are also able to recover in the comfort of their own homes with outpatient care, a huge draw to many people.
COVID-19 has shined a spotlight on the benefits of outpatient facilities, sometimes known as ambulatory surgery centers (ASCs). High patient volumes at hospitals left providers itching for more facilities to provide patients with care at. Not to mention ambulatory surgery centers have resulted in millions of dollars of healthcare savings for providers.
Ambulatory surgery centers are only expected to grow in the coming years. The market is expected to grow steadily at a CAGR of 7.5% through 2029. As the Centers for Medicare & Medicaid Services announce more procedures that are approved for outpatient facilities, the popularity of ambulatory surgery centers will only grow further.
Spinal Surgery Is Moving To ASCs
While major spinal surgery will remain in the jurisdiction of major hospitals, smaller surgeries or minimally invasive spinal procedures are having success at ASCs. Currently, there are more than 160 outpatient surgery facilities in the U.S. that specialize in spinal care. According to data compiled by CardinalHealth, the spine ASC market is expected to grow 200% in the coming years.
Spinal fusion implants are one of the approved procedures that are having success in ASCs. Spinal stenosis occurs when a patient’s spinal disc begins to collapse and pinch the nerve roots and spinal cord; this breakdown of the spinal cord can cause pain, mobility issues, and overall deterioration of health. Traditionally practitioners have implanted rods and screws to correct spinal stenosis.
FloSpine has pioneered a new device that can replace the existing rod and screw fusion solution. Their proprietary product, The KeyLift™ Device, is inserted through a small incision (about 2 inches). This device and procedure lead to faster patient recovery and less blood loss while limiting the chance of bone cracking because of how it fits in between the laminar of the spine.
The company has already had success in the minimally invasive surgical technique industry with its Largo®, Canaveral®, and Panama® products. It is currently hosting a raise to finish the development and execution of its KeyLift Device. One major benefit of the KeyLift Device is the procedure can be performed in ASCs and limits costs to the patient while increasing long-term spinal health.
Approximately 60-70% of Americans will experience back pain at some point in their life, making the importance of innovative spinal fusion implants incredibly important. FloSpine could be a leading innovator in the space helping make the lives of many easier.
This article was originally published on Benzinga here.
At FloSpine, we have developed a new solution to treat back pain, the KeyLift™. The KeyLift™ is implanted and expands to release nerves that are under pressure due to aging or injury. This condition is known as lumbar spinal stenosis and we believe that we have a new solution to treat it. We consider ourselves to be a leading medical device company applying new technology and design concepts to solve medical problems for the human spinal column. With 6 US patents, and 4 Patent Applications (2 International), we are in review with the FDA for the latest solution for back pain: KeyLift™. FloSpine® is registered as a Medical Device Manufacturer with the Food and Drug Administration (FDA).
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.
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