Issue link: https://beckershealthcare.uberflip.com/i/571000
65 PRACTICE MANAGEMENT SPINE DEVICE & INNOVATION HEALTHCARE REFORM tistics 2012: Type of practice • Private: 48 percent • Private (academic affiliation or appointment): 19 percent • Full-time academic: 30 percent • Military: 1 percent • Other (federal government): 2 percent Employment • Practice employed by hospital: 28 percent • Individual neurosurgeon employed by hospital: 11 percent 12. Neurosurgery generates $1.68 million in revenue for hospitals on average, while the average 2012 hospi- tal compensation for neurosurgeons was $669,000. e revenue-to-compensation ratio was 2.52:1, according to a report from Merritt Hawkins. Surgeons focused on spine 13. Neurosurgeons performed 2,296,331 total procedures in 2011, 1,448,400 of which were spine surgeries, accord- ing to AANS National Neurosurgical Procedural Statistics. Where surgeons are practicing 14. Wyoming, Montana, New Hampshire, Vermont and South Dakota boast the highest density of orthopedic surgeons, with more than 11 per 100,000 people. Missis- sippi, Texas, Arkansas, West Virginia and Michigan have the lowest density, with seven or fewer per 100,000 people, according to the AmericanAcademy of Orthopaedic Sur- geons released its 2014 Orthopaedic Surgeon Census. 15. Medscape conducted a study to discover the best plac- es physicians practice in 2015. Low taxes, low malpractice costs and low cost of living all factor into determining where physicians might want to consider practicing. e study found these five states to be the most desirable: • Tennessee: Low cost of living, progressive communi- ties, good pay, music • Mississippi: Low taxes, low malpractice payouts, cul- tural activities • Oklahoma: High physician income, arts and culture scene • Texas: No state income tax, fewer malpractice law- suits, medical community • Wyoming: Scenery, no state income tax, need for physicians 16. California, Texas, New York, Florida and Pennsylvania boast the highest levels of employment for surgeons as of May 2014, according to the Bureau of Labor Statistics. 17. According to Medicus Firm's 2015 Physician Practice Preference & Relocation Survey, 30.3 percent of 2,685 physicians polled prefer single-specialty group practice. As for location, 33.1 percent preferred a suburban com- munity setting about 30 minutes from downtown. US spine market 18. e North American spine surgery devices market is expected to grow at a 7.5 percent compound annual growth rate by 2019, according to a Research and Markets study. e United States is predicted to have the largest market share. Spinal fusion devices have the biggest grasp on the market, with spinal fixation devices experiencing the fastest growth. 19. e United States spinal implant market is currently valued around $5 billion and is expected to grow for the next 10 years at a compound annual growth rate of 2.4 percent, according to a Q2 Metrics report. It is expected to reach $6.4 billion by 2024. 20. Although the U.S. spine surgery market is $12 billion, payer reimbursement will face some obstacles. Certain spinal procedures are causing payer pushback; the spine surgery market returned low; single-digit growth; and many payers haven't loosened polices on utilization. In- creasing cost transparency, high deductible plays, hospi- tal-employed physicians, ACA, accountable care organiza- tions and new reimbursement pilots are giving rise to the potential for incentive disruption. Global spine market 21. Here are the top five companies leading the global spinal implant market: • DePuy Spine • Medtronic Spinal and Biologics • Stryker Spine • Synthes Spine • Zimmer Spine While these companies lead the nonfusion segment of the market, a greater breadth of product availability and choice will change the competition in the future. Smaller companies will see a rise in their shares as the options expand for surgeons. 22. Although spinal fusions still hold the largest market share, disc replacements are pushing forward in popular-