Hospitals demand proof that new medical devices cut costs or improve patient outcomes, but small companies struggle to access the billing data needed to prove it. Joe explains why showing a device caused lower length of stay or prevented infections is nearly impossible to substantiate.
So once it, if it gets in and it comes with a promise of either cost reduction, cost management, or clinical improvement, we are gonna put a new product on the hook. We're gonna put things in place to make sure that actually happens.
So, so Joe, how does a little company prove the clinical benefit or a cost savings to your hospital that they don't, they don't have access to your, your bills and your costs?
So I would hope that if you're gonna promise that you've done your homework. Right? You may come here and because we run so leanly and we're so accountable to these things that, and we've had this happen where I've talked to one facility and they go, we've saved all this money. And we were like, we've already carved that problem out. I mean, our length of stay is very low compared to other organizations and we manage it. So, and it's one of those lengths of stay is one of those really hard things to prove how your device actually reduced my length of stay. Are you going to prove to me that you, I really, that patient didn't come back with a hospital-acquired infection or something because of your device?