Monday, November 2, 2009

Life Spine: An Endless Enigma

Enigma: the MW dictionary defines the word as puzzling or an inexplicable occurrence or situation, a contradicting character. If our readers log in to Life Spine's website, TSB must ask whether there is a contradiction between what is said, and what it really offers. To paraphrase LS's credo on its Home Page, it claims; " Life Spine is focused on bringing innovative technologies to serve the surgical communities." Yet, the reader must wonder whether there is a contradiction between what is said and what is truly offered?

With its Matrix like product offering, starting out with the NEO cervical plate (Keanu Reeves must cringe), this company takes you through a labyrinth of one "me too" product with the door opening, to another endless offering in terms of true innovation. By the looks of things, and word on the street, these products do not offer procedural efficiencies and efficacies, just ask the end-users. TSB admires innovation, yet, this portfolio seems to contain stagnation! Knowing that this company is ruled by an emperor doesn't help the cause. Known as a company with a tremendous attrition rate in management, poor performing products, and some shady dealings is it a matter of time before we see another "me too" company go south for the winter? TSB wants to know what our readers think?

23 comments:

  1. I am familiar with this company and their main claim to fame is having the opportunity to get products through the door and to the customer faster than some of the larger Spine companies. However, in today's landscape and environment with FDA scrutiny increasing, their claim of being more versatile has diminished value.

    Furthermore, their product portfolio has been unable to distinguish itself and this reader agrees with TSB in that regard.

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  2. Spine Et Al: Does it really matter that you can execute delivery of a product if the product truly has no innovation? This is the Yin and Yang of our industry. Companies that flood the market with more "me too" products and establish a reputation as an unstable organization provide no value to spine outside of driving the price of products south. Thanks for your input! Keep reading and writing

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  3. We understand them to be well financed, performing and demanding of management for goals and achievement. We've heard they may be in play for thier pipeline. This has not been confirmed by their people though.

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  4. Question to MDV: Can a company that has a "me too" portfolio have REALISTIC expectations for growth? This is another organization that does not understand how difficult it is to generate sales with a "me too" product portfolio. These companies want immediate gratification, and unfortunately the current climate does not lend itself to those type of results. It would be nice if every distributor you hired could bring $2 million in new revenue in one fiscal calendar. Unfortunately, those people are happy working for Globus or K2M. Just because you think your baby is beautiful, does not mean that others see it that way. Having been involved in a few successful venture, an early growth stage company's best friend is stability, continuity and true innovation . Constant change is a sign of instability or the wrong person running the company Unfortunately, from what we hear, this company has unrealistic expectations. PS: Just because you are well financed doesn't mean you stand to succeed. Eventually, your reputation precedes your technology..... Peace!

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  5. IMO. Yes they can have expectations for growth. Just like when we see a surg that's been seen by every rep in the county, we (rahter I wouldnt do it)if I didnt have an expectation that one day i'll get some business by pressing forward. We used to call it a plan and business building. You may be speaking of fishing without bait, and it appears as though you want to be paid for it. Please let me know who you work for, I would like that deal too.

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  6. Kathy: IMHO it depends on the organization that you work for. Those that have true vision and a clearly defined strategy succeed. More "me too" just drives down the pricing and profitability in today's market place. If you think otherwise, explain all the hospitals that are in the process of capping pricing for spine surgery. Companies like Stryker, NuVasive, Synthes, DePuy and Globus are an example of legacy companies willing to deal to keep market share and sustain growth. Look at the size of their portfolios. It's one stop shopping!. How does an incomplete portfolio compete against these players? Don't tell me innovation, since I do not see one product in Life's portfolio that is innovative. But like I say, I have only been doing this for many many years so what do I know?

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  7. Ahh yes, as with many poeple hiding behind anonymity, it's not that you dont "know" a lot of things, or that you're dumb, you're not...you're just ignorant. Just as spending years on the bench doesnt make a great coach or player.

    As with my other post, this wasnt really directed at any one company. IMO the legacy operations that you've listed are worse than a lot of the smaller companies. Stryker with recalls, unethical practice and paying HUGE hospital groups, NuVasive with surgeon payments and a surplus I may add, Synthes being...well synthes and depuy floundering, and Globus yes Globus what an amazing den of thieves. These guys ripped off synthes, diverted corporate opportunity, sure they settled but they're still theives. Not exactly a company that can stand proud of it's ethical practices. (if you find yourself saying, that's ok we're making money, you probably cheat on your wife).

    So it's small companys' fault for driving down price, sweety, no it's not. It's what they call whores, you may very well be one of them. When a surgeon sells for a company and puts those products in to make money, not only is it unethical it's also illegal. when one of your legacy company allows a surgeon to distribute to his buddies. It's unethical and illegal (if he uses too). So, your moral and ethical high ground is burried in a rising tide of your legacy companies philandering for dollars.

    In my area, we have surgeons selling, using and making product. We have companies paying doctors and the "sales reps" of those companies claiming it's their hard work that achieved it. Yes, it's all practice of your legacy operations.

    AND, it's not about portfolio it's about relationships and MONEY. If the book sold the business you'ld be out of business. that day may come, when you have nothing to write about (remember MSD and BMP, seperate sales force because a dog and note could sell it.)

    What's going to happen when the capitation tidal wave makes ped screws $400 or $200 each? You're legacy companies are going to be laying off some people and making some hard runs to exit through off shoring and direct to hopsital sales.

    If that day does come, it will not be bloggers, docs or sales reps making the call. It'll be government and hopsitals - companies will be forced to follow suit to ensure survivial.

    How about we talk about advocacy for patients, evidence based medicine, real evidence not blogger (what the sales reps are saying) evidence.

    Could you imagine, if a doc actually had to post his outcomes on a score card? How many patients would see the hack doc, we all know them? Funny thing, these are the docs usually asking for projects and complaining to everyone how terrible thier hardware is.

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  8. Kathy: Thank You for the diatribe, based on our mission statement we really do appreciate your opinion. But why all the animus? If you have a need to insult my intelligence, feel free to do so. But one question: Why do you believe that I am an advocate for any of the aforementioned legacy companies? Because I used them as a business example? If you are so concerned about the unethical practice in your area, and question my anonymity, step up and call your local FBI field office. If you are going to talk the talk, then you must walk the walk. Since you don't know me, let me explain that I have always lived in a business world where the patient's care always supersedes profits. I have never paid a surgeon for their business, I am not interested in hiring surgeon consultants, and I do not condone what David Paul did, but you know what the Street's motto is: "You can't argue with success!" Once again, thank you and keep reading and writing!

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  9. Kathy, a breath of fresh air! To mention Globus in one breath with the other companies is an insult, even to Danek. Ali Baba and the Forty Thieves are in a (sub)class all their own.

    Funny you should mention pedicle screws for 400 dollars, and Musculoskeletal Man claiming 'me too' driving down their pricing. 300 to 400 dollars is what they cost about 12 years ago, when there were only a handful suppliers. According to Musculoskeltal Man and Economics 101, having 10 to 20 times as many suppliers, should drive prices down. Apparently these laws do apply to televisions, cell phones, cars, but as far as I have seen, it does not apply to these screws. It seems to me you explained the reasons quite clearly.

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  10. M: I suppose you haven't experienced capped pricing in your area. You know where 1 level pedicle screw cases go for $2,500 to $5,000. All the publicly traded companies have been willing to play at that price. Don't be so confident because its coming to your local neighborhood, whether you believe me or not. The first person to be effected will be the distributor who already is experiencing across the board cutbacks on commissions. PS: I guess you haven't read the opinions of many of your peers that equate managing healthcare costs to that of buying a car, television, or dvd. If you don't believe me just read some of the past blogs on healthcare.

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  11. TSB: I will be at NASS and would like to know if you would be willing to meet me next Thursday night at the Mayes Oyster House where we could get acquainted relax on some high back chairs and knock back a few single malt whiskeys. They have a $1 oyster happy hour, the lights dim at 10 p.m. and the DJ starts to spin.

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  12. TSB: The animus is contrived by you. The level of perfunctory ignorance that is exhibited in SOME (not all) of these postings whereby people and companies are attacked out of spite, personal preference and worse yet, anecdotal information is simply terrible.

    Remember, patients may be reading this too.

    To say, "You cannot argue with success!" makes my point on relative ethics. Who cares...if I'm making money right? Bernie Madoff and Robert Stanford said this for YEARS!

    I would offer a page from Xerox and/or JNJ books of professional selling; NEVER bash your competitor or their product to gain advantage, if you cannot sell on your OWN merits or those of your product advantages DO NOT SELL. Why you ask,if you criticize your competitor your customers will inately distrust you. why again, because your throwing stones from behind curtains, it's untrustworthy.

    This is no better than a drive by shooting. No one knows who did it, except that it happened and it's wrong. The innocent get hurt and the cowards ride away.

    Be aware, that the FBI knows. They have agents posing as distributors, sales reps, etc. They have contacted me. And yes, they are building cases. Yes. It's happening. One more reason to find this so amusing, it's usually the one with the biggest mouth who knows the least but enjoys displaying his ignorance to the world. It's just part of being ignorant TSB.

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  13. Kathy: Our writers can recommend an anger management program, remember, that you have the choice of not reading the blog if you find having an opinion insulting to your intelligence. Peace!

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  14. Jalo: I'll meet you. No whisky though, just Zima.

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  15. Jalo: I'll also bring the little blue viagra pick-me-ups. And wash em down with my Zima.

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  16. Jalo: I've been taking my ExtenZe too.

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  17. Don't be horning in on an admirer! Next thing you know we will have to have a "What's My Line" contest at the Mayes Oyster House. See you there Jalo at 8:00 p.m........ Will the real TSB please stand up!

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  18. Jalo, if you are looking for a real man, just look my way. No self respecting man's man would drink a Zima. Is he wearing a skirt too???

    Kathy,
    I can't wait to read the news when the feds start the round up.

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  19. "Ahh yes, as with many poeple hiding behind anonymity, it's not that you dont "know" a lot of things, or that you're dumb, you're not...you're just ignorant" Call me crazy, but isn't that the pot calling the kettle....?

    TSB keep up the good work. Kathy, I am glad the Bay Bridge is back open (just in case you are in San Francisco for NASS and now won't blow a gasket)

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  20. As a disclaimer to our readers, TSB would like to make it explicitly clear that whomever used the moniker Musculoskeletal was not sending comments on my behalf. In addition, it was brought to our attention through a reliable source that Kathy was really a male, you can figure out the rest. Once again, thanks for reading and let your voices be heard!

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  21. Where's former federal prosecutor Chris Christie when you need him? Guess he's gone on to bigger and better things if you call being govenor of New Jersey a good thing. Maybe someone else will have to carry the torch for the government and clean up spine companies who have used the guise of consultants to build their businesses. John Ashcroft would probably be happy to receive additional work and more monitoring fees at the expense of some spine company.

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  22. Ask the Zimmer Spine folks laid off this summer if Ashcroft's expense wasn't paid by them in some way? Probably not but he did spend a lot of time in Warsaw.

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  23. Life Spine, is ran by a dictator, he has proven he will do WHATEVER it takes to make it. Horrible business model. Profit over patient care is not in consideration here.

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