Orthopedic Center: Invest or Not to Invest in a Robotic System and Impacts to the Patient-Physician Relationship

4500 words 18 pages
Orthopedic Center: Invest or not to Invest in a Robotic System and
Impacts to the Patient-Physician Relationship
Karissa Keller
Colorado Technical University

Economics in Healthcare HSS 310
Professor Cynthia Bracy
June 24, 2013

In today’s time of demand and supply of healthcare needs, organizations must discover or improve services that can meet the needs of patients’ whole at the same time generating revenue as well as achieving high standards for quality of care. One way organizations have done this is by investing in robotic systems to carry out a range of surgeries. In the following presentation I will discuss the topics of: Investing in the MAKO RIO Robotic System, The Utilization of the RIO Robotic System, Stakeholders
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In corporation of the robotic system is not the only hurdle the internal stakeholders must overcome; funding for the robotic system will prove to be a challenge in itself. The internal stakeholders will most likely have to go to the investors of the center in order to cover a portion of the robotic system’s price tag. Research will also need to be conducted to locate grants for facilities looking to expand services, patient base, as well as improve quality of care. Donations are another avenue that can be explored to aid in the funding of the robotic system. The external stakeholders will also be impacted by the purchase of the RIO Robotic Arm system by MAKO. With the RIO Robotic Arm system being a new program and technology, surgeons (providers) will need to acquire the proper education and training to be able to perform procedures using the robotic system accurately and successfully. MAKO offers an on-site education program so that surgeons will have the proper knowledge and Bio-Skills to successfully perform procedures using the RIO Robotic Arm system (MAKO Surgical Corp, 2013). The investors of the center will more than likely aide in the funding of the robotic system; however they have the potential to recoup from the investment in two ways. The reimbursement cycle will be the first way the investors can recoup from their investment. By having the system within the center it will give the