1 00:00:00,480 --> 00:00:02,980 This is Alan Condon back on the Becker's 2 00:00:03,040 --> 00:00:04,099 Healthcare podcast. 3 00:00:04,559 --> 00:00:06,799 And today, I'm thrilled to be joined by 4 00:00:06,799 --> 00:00:10,480 doctor Craig McMains, a fellowship trained spine surgeon 5 00:00:10,480 --> 00:00:12,580 who specializes in minimally invasive 6 00:00:13,125 --> 00:00:15,705 and complex spine surgery at OrthoIndy. 7 00:00:16,484 --> 00:00:18,244 Doctor Maines, a pleasure to have you back 8 00:00:18,244 --> 00:00:19,785 on the podcast with us today. 9 00:00:20,565 --> 00:00:22,484 Before we dive into some questions that I'd 10 00:00:22,484 --> 00:00:24,085 love to get to, I'd love to hand 11 00:00:24,085 --> 00:00:25,765 the floor over to you just to tell 12 00:00:25,765 --> 00:00:27,600 us a little bit more about your role 13 00:00:27,600 --> 00:00:29,140 and your background at OrthoIndy. 14 00:00:30,480 --> 00:00:32,640 Absolutely. Thanks for having me on, Alan. Appreciate 15 00:00:32,640 --> 00:00:33,620 the time today. 16 00:00:34,399 --> 00:00:37,200 As you've said, I'm, Craig McMains. I am 17 00:00:37,200 --> 00:00:40,505 a orthopedic spine surgeon. I've been in practice, 18 00:00:41,364 --> 00:00:43,625 close to a decade now. I'm currently 19 00:00:44,004 --> 00:00:45,545 a partner at OrthoIndy, 20 00:00:46,484 --> 00:00:49,704 specializing in minimally invasive and complex spinal procedures. 21 00:00:49,765 --> 00:00:50,265 So, 22 00:00:51,125 --> 00:00:51,625 OrthoIndy, 23 00:00:52,645 --> 00:00:54,344 is a, Indiana's 24 00:00:55,039 --> 00:00:57,679 first physician owned, like, orthopedic hospital. We founded 25 00:00:57,679 --> 00:00:59,119 the hospital in, I think, I think it 26 00:00:59,119 --> 00:01:01,520 was around 02/2005. The group's been together for 27 00:01:01,520 --> 00:01:02,579 about fifty years. 28 00:01:02,960 --> 00:01:04,640 And so that kind of, 29 00:01:05,040 --> 00:01:07,680 innovative approach has been part of the DNA 30 00:01:07,680 --> 00:01:09,040 of the group, and that's what attracted me 31 00:01:09,040 --> 00:01:10,694 to joining the the group. And so, 32 00:01:11,415 --> 00:01:12,875 for my individual practice, 33 00:01:13,415 --> 00:01:16,935 kinda leveraging that, you know, physician ownership and 34 00:01:16,935 --> 00:01:18,155 kinda top down control, 35 00:01:18,534 --> 00:01:19,435 into my, 36 00:01:20,454 --> 00:01:22,715 care for my spine patients and incorporating 37 00:01:23,814 --> 00:01:26,635 kind of forward thinking technologies to get better 38 00:01:27,229 --> 00:01:28,349 outcomes at a, 39 00:01:28,909 --> 00:01:29,890 at a good value. 40 00:01:31,469 --> 00:01:33,709 Alright. So we're excited to to dive in 41 00:01:33,709 --> 00:01:35,149 and kinda learn a little bit more about 42 00:01:35,149 --> 00:01:37,149 your practice, kinda where you're headed, what you're 43 00:01:37,149 --> 00:01:39,994 planning for this year, doctor McMaes. I think, 44 00:01:40,055 --> 00:01:40,555 certainly, 45 00:01:41,174 --> 00:01:43,575 no secret to you, to me, to many 46 00:01:43,575 --> 00:01:45,575 of our audience, the the big headwinds that 47 00:01:45,575 --> 00:01:48,055 health care across the board is facing. But 48 00:01:48,055 --> 00:01:50,854 I guess specific to your practice, specific to 49 00:01:50,854 --> 00:01:52,155 spine surgery and orthoIndy, 50 00:01:52,560 --> 00:01:54,560 what are the the big headwinds that you're 51 00:01:54,560 --> 00:01:56,019 really planning for this year? 52 00:01:56,799 --> 00:01:57,939 Yeah. So, 53 00:01:58,799 --> 00:02:01,359 you know, that that's a great question, and 54 00:02:01,359 --> 00:02:02,719 I think I'm gonna sound like a broken 55 00:02:02,719 --> 00:02:04,719 record for everybody else, you know, in terms 56 00:02:04,719 --> 00:02:05,379 of the 57 00:02:05,795 --> 00:02:08,114 kinda group level headwinds. I'll I'll talk about 58 00:02:08,114 --> 00:02:10,134 my individual practice first, though. 59 00:02:10,995 --> 00:02:13,275 You know, I I'm we we started a 60 00:02:13,275 --> 00:02:14,675 a little over a year, year and a 61 00:02:14,675 --> 00:02:17,894 half ago, an endoscopic spine program at OrthoIndy, 62 00:02:18,680 --> 00:02:20,620 And that's been something that's really kind 63 00:02:21,879 --> 00:02:23,960 of caused me to see a paradigm shift 64 00:02:23,960 --> 00:02:26,460 in how I view patients. Right? Historically, 65 00:02:27,080 --> 00:02:29,340 you know, the foundations of spine surgery are 66 00:02:29,400 --> 00:02:29,900 stabilized, 67 00:02:30,200 --> 00:02:31,180 you know, decompress, 68 00:02:31,480 --> 00:02:33,180 correct. And now, 69 00:02:35,055 --> 00:02:37,854 you know, I don't have to approach that 70 00:02:37,854 --> 00:02:39,235 with a kind of 71 00:02:39,534 --> 00:02:42,014 anatomy altering approach anymore. Right? I don't have 72 00:02:42,014 --> 00:02:44,655 to do a a spinal fusion to get 73 00:02:44,655 --> 00:02:45,955 an adequate decompression 74 00:02:46,414 --> 00:02:46,914 or, 75 00:02:47,455 --> 00:02:48,114 to preserve, 76 00:02:48,414 --> 00:02:51,210 you know, integrity. And so being able to 77 00:02:51,210 --> 00:02:54,090 have these ultra minimally invasive approaches to the 78 00:02:54,090 --> 00:02:55,229 spine where we can 79 00:02:55,610 --> 00:02:56,110 decompress, 80 00:02:57,129 --> 00:02:59,449 the neuroelements and kind of preserve anatomy has 81 00:02:59,449 --> 00:03:01,210 been kind of a real boon in my 82 00:03:01,210 --> 00:03:03,210 practice. Patients love it. They're they're getting back 83 00:03:03,210 --> 00:03:04,990 to activity faster, 84 00:03:07,611 --> 00:03:09,844 and, just really having good great recoveries. 85 00:03:10,305 --> 00:03:12,645 The the analogy I I kinda 86 00:03:13,025 --> 00:03:14,325 always bring up is, 87 00:03:14,865 --> 00:03:17,425 you know, my orthopedic background is look at 88 00:03:17,425 --> 00:03:19,129 the where shoulder, 89 00:03:20,069 --> 00:03:22,629 arthroscopy went and and the treatment for rotator 90 00:03:22,629 --> 00:03:23,990 cuffs. Right? We used to do these open 91 00:03:23,990 --> 00:03:24,969 approaches historically. 92 00:03:25,509 --> 00:03:27,189 They were highly disfiguring and highly, 93 00:03:28,709 --> 00:03:29,449 you know, 94 00:03:30,550 --> 00:03:32,169 morbid for patients to undergo. 95 00:03:32,550 --> 00:03:34,365 Well, we got better. We we developed these 96 00:03:34,365 --> 00:03:36,925 less invasive or you call minimally invasive techniques 97 00:03:36,925 --> 00:03:39,805 of many open deltoid sparing you know, deltoid 98 00:03:39,805 --> 00:03:40,625 splitting approach. 99 00:03:41,564 --> 00:03:43,485 We got some good visualization with that. Some 100 00:03:43,485 --> 00:03:45,645 people would advocate it was superior for a 101 00:03:45,645 --> 00:03:46,650 long time even 102 00:03:47,129 --> 00:03:50,090 after arthroscopy got introduced. Right? Because historically, arthroscopy 103 00:03:50,090 --> 00:03:53,530 is really challenging, cumbersome, and expensive for shoulders. 104 00:03:53,530 --> 00:03:55,689 But now if you look at the current 105 00:03:55,689 --> 00:03:57,930 landscape, that's the gold standard. Nobody would tell 106 00:03:57,930 --> 00:03:59,449 you that you should go backwards and have 107 00:03:59,449 --> 00:04:02,104 these open approaches even in a less invasive 108 00:04:02,104 --> 00:04:04,104 fashion. So I think spine's gonna go through 109 00:04:04,104 --> 00:04:06,424 that paradigm shift as a field, and, 110 00:04:07,064 --> 00:04:09,245 we're gonna do better of preserving, 111 00:04:10,025 --> 00:04:11,884 normal anatomy while alleviating 112 00:04:12,185 --> 00:04:13,710 pathology. So that's kind of 113 00:04:14,270 --> 00:04:16,430 my big headwind is just, the kinda change 114 00:04:16,430 --> 00:04:18,189 I see in my practice individually is, like, 115 00:04:18,189 --> 00:04:20,029 how do I keep leveraging that? How do 116 00:04:20,029 --> 00:04:21,250 I get that to go forward? 117 00:04:22,990 --> 00:04:25,389 From a a group standpoint, you know, we're 118 00:04:25,389 --> 00:04:27,470 we're facing these, you know, as always, kind 119 00:04:27,470 --> 00:04:27,970 of 120 00:04:29,025 --> 00:04:29,525 regulatory 121 00:04:30,145 --> 00:04:30,965 and financial, 122 00:04:31,665 --> 00:04:32,805 headwinds. Right? 123 00:04:33,264 --> 00:04:34,485 We we have 124 00:04:35,585 --> 00:04:36,085 trouble 125 00:04:36,944 --> 00:04:39,444 with our payers, you know, giving, 126 00:04:40,545 --> 00:04:42,245 surgeons and individual physicians 127 00:04:42,959 --> 00:04:45,199 an appropriate compared to, say, like, a big 128 00:04:45,199 --> 00:04:47,519 hospital system. Right? And there's all kinds of 129 00:04:47,519 --> 00:04:50,079 data out there showing that the reimbursement for 130 00:04:50,079 --> 00:04:53,279 facilities is going up or was physician rates 131 00:04:53,279 --> 00:04:54,660 are flat, if not dropping. 132 00:04:55,074 --> 00:04:56,194 And, you know, if you look at it 133 00:04:56,194 --> 00:04:58,615 from, like, comparing it to, like, inflationary data, 134 00:04:58,675 --> 00:04:59,254 you know, 135 00:05:00,035 --> 00:05:01,795 physicians have not kept up from a pay 136 00:05:01,795 --> 00:05:02,295 standpoint, 137 00:05:02,754 --> 00:05:04,774 and a pay quality standpoint versus, 138 00:05:05,875 --> 00:05:07,555 kind of what these large health care systems 139 00:05:07,555 --> 00:05:08,189 do. So 140 00:05:08,670 --> 00:05:11,170 just trying to make sure that we remain 141 00:05:11,550 --> 00:05:14,589 patient focused. Right? We wanna get good outcomes 142 00:05:14,589 --> 00:05:15,089 because, 143 00:05:15,389 --> 00:05:16,670 you know, it's kinda like a field of 144 00:05:16,670 --> 00:05:18,189 dreams thing. If you if you build it 145 00:05:18,189 --> 00:05:19,310 if you build it, they will come. Like, 146 00:05:19,310 --> 00:05:21,205 if we're doing good work, patients will come 147 00:05:21,205 --> 00:05:21,944 see us. 148 00:05:22,485 --> 00:05:23,605 But we have to we have to be 149 00:05:23,605 --> 00:05:25,285 leaned. We have to make sure that we're 150 00:05:25,285 --> 00:05:25,785 not, 151 00:05:27,205 --> 00:05:29,305 you know, becoming bloated with, 152 00:05:30,245 --> 00:05:30,904 you know, 153 00:05:31,764 --> 00:05:32,579 excessive cost. 154 00:05:33,139 --> 00:05:35,220 We try to be, you know, conscientious on 155 00:05:35,220 --> 00:05:38,279 our implants that we're using, making sure that, 156 00:05:39,220 --> 00:05:40,599 we're doing things that, 157 00:05:41,379 --> 00:05:42,919 don't add significant 158 00:05:43,379 --> 00:05:45,459 delays in care or cost to the system. 159 00:05:45,459 --> 00:05:45,959 So, 160 00:05:46,579 --> 00:05:47,959 I mean, that that's a complicated 161 00:05:48,365 --> 00:05:50,524 answer, but that's kind of the thousand foot 162 00:05:50,524 --> 00:05:52,064 view of our practice level. 163 00:05:53,084 --> 00:05:55,404 Yeah. Absolutely. And it kinda ties kind of 164 00:05:55,404 --> 00:05:57,324 into the the next question that I wanted 165 00:05:57,324 --> 00:05:59,425 to to pick your brains on. I think 166 00:05:59,485 --> 00:06:01,839 in terms of what we're seeing across the 167 00:06:01,839 --> 00:06:04,000 board in spine and orthopedics, some of the 168 00:06:04,000 --> 00:06:05,860 key trends that kinda play into that, 169 00:06:06,560 --> 00:06:09,040 we're seeing a a sharp rise in, it 170 00:06:09,040 --> 00:06:10,100 seems like, orthopedic, 171 00:06:10,560 --> 00:06:11,060 MSOs, 172 00:06:11,360 --> 00:06:12,980 management services organizations, 173 00:06:13,884 --> 00:06:16,544 increased private equity investment coming into the field. 174 00:06:16,925 --> 00:06:18,625 On the other hand, increased consolidation. 175 00:06:19,404 --> 00:06:21,245 Also, a ton of excitement in terms of 176 00:06:21,245 --> 00:06:24,064 what we see in spine technology, orthopedic technology, 177 00:06:24,204 --> 00:06:26,125 some of the key trends across the board 178 00:06:26,125 --> 00:06:27,745 here on on a broad level. 179 00:06:28,050 --> 00:06:29,970 But with some of these in mind, how 180 00:06:29,970 --> 00:06:32,310 do you see spine, orthopedics? 181 00:06:32,689 --> 00:06:34,529 How do you see the field evolving over 182 00:06:34,529 --> 00:06:36,769 the next two to three years? I'm curious 183 00:06:36,769 --> 00:06:38,129 to kinda get your thoughts there as of 184 00:06:38,129 --> 00:06:39,430 how you're looking at the future. 185 00:06:40,074 --> 00:06:40,574 Yeah. 186 00:06:41,274 --> 00:06:43,194 But the way I I, you know, in 187 00:06:43,194 --> 00:06:45,615 my perspective is it's it's like this pendulum 188 00:06:45,675 --> 00:06:47,194 swinging back and forth. Right? We used to 189 00:06:47,194 --> 00:06:49,295 have all these private practices, and then, 190 00:06:50,875 --> 00:06:51,375 basically, 191 00:06:52,889 --> 00:06:54,729 you know, the Affordable Care Act came in 192 00:06:54,729 --> 00:06:55,129 and, 193 00:06:55,610 --> 00:06:58,990 changed the landscape. Physician ownership became much increasingly 194 00:06:59,050 --> 00:07:00,589 rare from a hospital standpoint. 195 00:07:01,850 --> 00:07:02,350 And 196 00:07:03,050 --> 00:07:06,910 with insurances putting downward pressure on physician pay, 197 00:07:07,264 --> 00:07:09,665 you know, the and the the regulatory burden 198 00:07:09,665 --> 00:07:10,805 of, you know, documentation 199 00:07:11,105 --> 00:07:11,605 and 200 00:07:11,985 --> 00:07:14,384 everything else that was required kind of increasing, 201 00:07:14,384 --> 00:07:16,805 it, you know, it became overwhelming for physicians 202 00:07:17,185 --> 00:07:19,185 to manage all this. Right? We were trained 203 00:07:19,185 --> 00:07:19,764 to do 204 00:07:20,089 --> 00:07:21,470 patient care, to do medicine. 205 00:07:21,930 --> 00:07:24,730 Our our experience in business is lacking in 206 00:07:24,730 --> 00:07:26,970 that regard. And so you saw this pendulum 207 00:07:26,970 --> 00:07:29,770 swing where physicians were becoming hospital employed, like, 208 00:07:29,770 --> 00:07:32,029 we're joining large groups. Mhmm. 209 00:07:33,495 --> 00:07:35,654 I think what we have seen now decade 210 00:07:35,654 --> 00:07:37,274 plus into that kind of change 211 00:07:37,814 --> 00:07:40,454 is that these large groups have realized they're 212 00:07:40,454 --> 00:07:43,175 not great at managing subspecialists like spine surgeons. 213 00:07:43,175 --> 00:07:44,314 Right? And so 214 00:07:44,694 --> 00:07:46,254 I get the sense that we're kinda getting 215 00:07:46,375 --> 00:07:48,449 and and the surgeons are getting really frustrated. 216 00:07:48,449 --> 00:07:49,889 And and we have at the end of 217 00:07:49,889 --> 00:07:50,550 the day, 218 00:07:51,250 --> 00:07:52,230 we have the biggest 219 00:07:52,610 --> 00:07:54,689 card to play in this at this table, 220 00:07:54,689 --> 00:07:56,769 which is the power of the pen. Right? 221 00:07:56,769 --> 00:07:58,850 Nothing goes through the health care system pretty 222 00:07:58,850 --> 00:08:01,165 much without a physician order. And I think 223 00:08:01,165 --> 00:08:04,125 physicians forget that kind of power they wield 224 00:08:04,125 --> 00:08:04,605 in this 225 00:08:05,165 --> 00:08:05,824 in these, 226 00:08:06,764 --> 00:08:08,145 discussions, we'll call it. 227 00:08:08,605 --> 00:08:11,004 And so physicians are starting to increasingly pull 228 00:08:11,004 --> 00:08:13,824 away from these large health care, organizations. 229 00:08:14,285 --> 00:08:14,785 And, 230 00:08:15,279 --> 00:08:17,439 you know, right now, we're seeing this trend 231 00:08:17,439 --> 00:08:20,479 towards, as an alternative, you know, private equity 232 00:08:20,479 --> 00:08:23,680 involvement and maybe MSOs to try to diminish 233 00:08:23,680 --> 00:08:24,180 cost, 234 00:08:24,800 --> 00:08:27,524 with an economy of scale. At OrthoIndy, we're 235 00:08:27,845 --> 00:08:29,285 we're expanding. We're trying to we we think 236 00:08:29,285 --> 00:08:31,524 we have a good solution independently of those 237 00:08:31,524 --> 00:08:33,764 two options, and we're trying to become a 238 00:08:33,764 --> 00:08:36,325 larger brand around the state. But it's the 239 00:08:36,325 --> 00:08:38,085 same thing. We're trying to everybody's trying to 240 00:08:38,085 --> 00:08:39,539 increase economy of scale. So 241 00:08:40,100 --> 00:08:41,940 I I think that you're gonna kinda continue 242 00:08:41,940 --> 00:08:43,720 to see the pendulum swing in that direction. 243 00:08:44,100 --> 00:08:46,039 I I don't foresee private equity. 244 00:08:47,459 --> 00:08:48,659 I'd like to be wrong on this. I 245 00:08:48,659 --> 00:08:50,339 don't see them being a long term solution. 246 00:08:50,339 --> 00:08:52,339 I maybe I'm I'm gonna be proven wrong, 247 00:08:52,339 --> 00:08:52,839 but, 248 00:08:53,165 --> 00:08:54,205 you know, at the end of the day, 249 00:08:54,205 --> 00:08:56,705 those groups are primarily focused with, 250 00:08:57,245 --> 00:08:57,745 profitability. 251 00:08:58,205 --> 00:08:59,665 And I think the historic, 252 00:09:01,085 --> 00:09:03,325 perception of them is that they're gonna come 253 00:09:03,325 --> 00:09:04,304 in, they're gonna 254 00:09:04,925 --> 00:09:07,085 make an organization lean, and then the minute 255 00:09:07,085 --> 00:09:09,360 it's hitting its profit margins, they're gonna try 256 00:09:09,360 --> 00:09:11,059 to flip it and sell it. So, 257 00:09:11,840 --> 00:09:13,759 that might, I guess, benefit a group if 258 00:09:13,759 --> 00:09:15,519 they can buy it off the private equity 259 00:09:15,519 --> 00:09:17,860 firm maybe. But, I think for physicians, 260 00:09:19,120 --> 00:09:20,639 those are gonna be the trends we see 261 00:09:20,639 --> 00:09:22,820 moving forward over the next, you know, 262 00:09:23,184 --> 00:09:24,884 several years, five years plus. 263 00:09:25,504 --> 00:09:27,285 And I think that in that regard, 264 00:09:28,144 --> 00:09:31,925 if you can get and as a subspecialist, 265 00:09:32,225 --> 00:09:33,605 if you can get in control 266 00:09:34,225 --> 00:09:36,305 of your facility. Right? Because we we just 267 00:09:36,305 --> 00:09:37,879 talked about it a second ago. The facility 268 00:09:37,879 --> 00:09:39,340 reimbursements are doing well. 269 00:09:40,360 --> 00:09:42,840 Spine surgery getting pushed in the way that 270 00:09:42,840 --> 00:09:45,820 joints was before. It's it there we wanna 271 00:09:46,679 --> 00:09:49,019 ratchet down implant cost. You know, we're gonna 272 00:09:49,160 --> 00:09:51,960 push everybody to outpatient surgery. We wanna leverage 273 00:09:51,960 --> 00:09:52,779 things like 274 00:09:53,545 --> 00:09:56,365 minimally invasive endoscopy to get people 275 00:09:56,745 --> 00:09:59,325 kind of up and back to life faster. 276 00:09:59,625 --> 00:10:01,705 And so if you can get in on 277 00:10:01,705 --> 00:10:03,785 an, you know, a a you know, a 278 00:10:03,945 --> 00:10:04,684 an ASC, 279 00:10:05,465 --> 00:10:07,884 that's gonna be huge because there's a 280 00:10:08,470 --> 00:10:11,910 strong push from all sides, both physician, you 281 00:10:11,910 --> 00:10:13,049 know, large organizations 282 00:10:13,350 --> 00:10:13,850 to 283 00:10:14,230 --> 00:10:16,309 move spine surgery in that direction. The days 284 00:10:16,309 --> 00:10:17,910 of having a a surgery and staying a 285 00:10:17,910 --> 00:10:19,910 week in the hospital are gonna become increasingly 286 00:10:19,910 --> 00:10:22,490 rare outside of a really few special tertiary 287 00:10:22,629 --> 00:10:24,009 facilities in my opinion. 288 00:10:24,764 --> 00:10:27,245 Yeah. It's certainly interesting to see that trend 289 00:10:27,245 --> 00:10:29,325 developed. To your point earlier when we talked 290 00:10:29,325 --> 00:10:32,044 about the traditional spine surgery and how kind 291 00:10:32,044 --> 00:10:34,125 of morbid it used to be, what also 292 00:10:34,125 --> 00:10:36,225 wasn't that long ago when, 293 00:10:37,325 --> 00:10:39,725 spine patients or even total knee, total hip 294 00:10:39,725 --> 00:10:41,779 patients are staying two, three, four days in 295 00:10:41,779 --> 00:10:44,179 the hospital. Now to your point with the 296 00:10:44,179 --> 00:10:47,379 help of these minimally invasive surgical techniques, open 297 00:10:47,379 --> 00:10:49,940 ambulated, out the door in an hour, two 298 00:10:49,940 --> 00:10:52,259 hours. So currently, certainly interesting to see what 299 00:10:52,259 --> 00:10:54,500 happens to the traditional inpatient environment as it 300 00:10:54,500 --> 00:10:57,225 relates to spine surgery, orthopedic surgery, and some 301 00:10:57,225 --> 00:10:59,325 of those territory environments like you had mentioned. 302 00:11:00,585 --> 00:11:02,585 Doctor McBain, last question I have for you, 303 00:11:02,585 --> 00:11:04,205 and you kind of alluded to it earlier. 304 00:11:05,065 --> 00:11:07,544 Certainly interesting to see the the growth of 305 00:11:07,544 --> 00:11:11,139 OrthoIndy over the years. Really fascinating, interesting, it 306 00:11:11,139 --> 00:11:13,320 seems, maybe hub and spoke model there. 307 00:11:14,339 --> 00:11:15,639 Where are OrthoIndy's 308 00:11:16,179 --> 00:11:17,079 best opportunities 309 00:11:17,379 --> 00:11:20,039 for growth? To your point, is it, acquiring 310 00:11:20,100 --> 00:11:21,559 ASCs, building ASCs, 311 00:11:22,285 --> 00:11:24,924 partnering with more referrals, kind of, really expanding 312 00:11:24,924 --> 00:11:27,325 your footprint at that area, new physicians in 313 00:11:27,325 --> 00:11:29,165 the group? Kinda love to get your kinda 314 00:11:29,245 --> 00:11:31,004 the group's game plan and kinda how you're 315 00:11:31,004 --> 00:11:32,304 thinking about growth there. 316 00:11:32,684 --> 00:11:33,184 Sure. 317 00:11:34,365 --> 00:11:36,709 So like you said, we we, you know, 318 00:11:37,009 --> 00:11:38,449 individually, and I I would say to some 319 00:11:38,449 --> 00:11:39,889 degree as a group, I I'm not speaking 320 00:11:39,889 --> 00:11:40,769 for the group here, but, 321 00:11:41,569 --> 00:11:43,970 you know, we we recognize the value of 322 00:11:43,970 --> 00:11:46,529 ASCs and the expansion of ASCs, right, for 323 00:11:46,529 --> 00:11:48,629 all of orthopedics, not just spine surgery. 324 00:11:49,125 --> 00:11:51,205 And, you know, there's a there's a strong 325 00:11:51,205 --> 00:11:53,044 current out there, like I said, of these 326 00:11:53,044 --> 00:11:54,024 smaller practices 327 00:11:54,485 --> 00:11:57,285 feeling pressure, not being happy, or able to 328 00:11:57,285 --> 00:11:58,585 maybe manage the 329 00:11:59,044 --> 00:12:01,924 modern pressures of management. And we think that 330 00:12:01,924 --> 00:12:04,570 we've kind of developed a pretty good model 331 00:12:04,570 --> 00:12:07,769 in in Indianapolis here. And so the the 332 00:12:07,769 --> 00:12:09,389 idea is that maybe we're an alternative 333 00:12:09,850 --> 00:12:10,350 to 334 00:12:10,970 --> 00:12:13,049 all three of those previous options, right, to 335 00:12:13,049 --> 00:12:15,769 big health care organizations like, you know, the 336 00:12:15,769 --> 00:12:18,605 big, you you know, hospital chains that were 337 00:12:18,605 --> 00:12:20,704 were an alternative to MSOs or an alternative 338 00:12:20,764 --> 00:12:23,004 to PE. We can we can provide those 339 00:12:23,004 --> 00:12:27,084 services, but allow surgeons to maintain control and 340 00:12:27,084 --> 00:12:28,784 to guide the patient experience 341 00:12:29,500 --> 00:12:31,820 on a on a on a individual kinda 342 00:12:31,820 --> 00:12:33,120 hands on practice level. 343 00:12:33,820 --> 00:12:36,220 But we can also kinda, by pulling our 344 00:12:36,220 --> 00:12:38,700 resources, generate that economy of scale that lets 345 00:12:38,700 --> 00:12:39,360 us then, 346 00:12:39,740 --> 00:12:40,399 you know, 347 00:12:41,180 --> 00:12:43,840 manage these in rising costs and and, 348 00:12:44,315 --> 00:12:45,995 you know, manage these, 349 00:12:46,554 --> 00:12:48,475 overhead issues that we're all having. Because that's, 350 00:12:48,475 --> 00:12:49,214 like, the biggest 351 00:12:49,595 --> 00:12:51,514 barrier to growth. So, like, you know, you 352 00:12:51,514 --> 00:12:53,674 can try to expand, but, you know, we 353 00:12:53,674 --> 00:12:55,355 we don't want people to we don't want 354 00:12:55,355 --> 00:12:56,794 patients to go out there and have more 355 00:12:56,794 --> 00:12:59,250 problems to some degree. Right? Like, we don't 356 00:12:59,250 --> 00:13:00,370 want we don't want there to be more 357 00:13:00,370 --> 00:13:02,209 business. Instead, the the way that we can 358 00:13:02,209 --> 00:13:04,209 get growth is by diminishing our overhead and 359 00:13:04,209 --> 00:13:04,949 our cost. 360 00:13:05,329 --> 00:13:07,029 I I think that the way that 361 00:13:07,490 --> 00:13:07,990 OrthoIndy 362 00:13:08,370 --> 00:13:10,769 and other practices should look at this the 363 00:13:10,769 --> 00:13:13,350 most is the best opportunity for 364 00:13:13,914 --> 00:13:14,414 growth 365 00:13:15,115 --> 00:13:18,315 is data monetization. Right? So, like, we're all 366 00:13:18,315 --> 00:13:19,294 generating this 367 00:13:19,595 --> 00:13:21,134 impressive data. And 368 00:13:23,195 --> 00:13:23,695 with 369 00:13:24,315 --> 00:13:26,235 some of these AI tools that are available, 370 00:13:26,235 --> 00:13:27,855 we finally have a way of processing 371 00:13:28,235 --> 00:13:29,535 big data, right, 372 00:13:30,389 --> 00:13:32,789 which we never had, you know, ten plus 373 00:13:32,789 --> 00:13:33,509 years ago. 374 00:13:33,909 --> 00:13:36,070 And so if if you as a if 375 00:13:36,070 --> 00:13:38,470 we can, as a practice, figure out, okay, 376 00:13:38,470 --> 00:13:40,629 what's the most efficient pathway through our system 377 00:13:40,629 --> 00:13:42,629 that generates the best outcome for a patient? 378 00:13:42,629 --> 00:13:43,129 And, 379 00:13:43,544 --> 00:13:46,345 you know, with the implants that we're using 380 00:13:46,345 --> 00:13:48,424 and our utilization, you know, what what's the 381 00:13:48,424 --> 00:13:48,924 optimal 382 00:13:49,304 --> 00:13:51,784 construct or, you know, what's the optimal surgery 383 00:13:51,784 --> 00:13:53,704 to get the best outcome? Like, those are 384 00:13:53,704 --> 00:13:56,184 those data monetization questions that if we can 385 00:13:56,184 --> 00:13:57,004 start to 386 00:13:57,610 --> 00:14:00,009 capture that and act on it, that's gonna 387 00:14:00,009 --> 00:14:01,690 lead to the biggest growth changes. And I 388 00:14:01,690 --> 00:14:03,450 and I think, you know, we're doing that. 389 00:14:03,450 --> 00:14:05,450 We're we're we're we're working with, you know, 390 00:14:05,450 --> 00:14:07,769 an AI driven, basically, call center that kinda 391 00:14:07,769 --> 00:14:10,009 manages all of our scheduling now, and that's 392 00:14:10,009 --> 00:14:11,610 that's gonna make a boom. And we're starting 393 00:14:11,610 --> 00:14:12,990 to do that with some of our 394 00:14:13,304 --> 00:14:15,865 PRO data, like our outcomes data. We we 395 00:14:15,865 --> 00:14:17,245 have our own research foundation. 396 00:14:17,784 --> 00:14:20,044 We're gonna we're gonna turn this, you know, 397 00:14:20,985 --> 00:14:23,325 lens to implants here. 398 00:14:24,664 --> 00:14:26,985 And so I think that, as we figure 399 00:14:26,985 --> 00:14:28,205 out how we can 400 00:14:28,759 --> 00:14:30,460 diminish our costs going forward, 401 00:14:32,120 --> 00:14:34,360 that's how we can drive more volume towards 402 00:14:34,360 --> 00:14:37,820 us because patients will and the patients, payers, 403 00:14:38,440 --> 00:14:41,164 employers, right, direct employers, a whole another discussion 404 00:14:41,164 --> 00:14:42,865 we can go in a rabbit hole with. 405 00:14:43,004 --> 00:14:45,264 They'll all start to realize that, hey. OrthoIndy's, 406 00:14:46,204 --> 00:14:48,144 you know, approaching this from a patient 407 00:14:48,605 --> 00:14:51,024 centric, patient versus standpoint, and 408 00:14:51,404 --> 00:14:53,804 they're also forward thinking enough that they're trying 409 00:14:53,804 --> 00:14:55,904 to get ahead of these challenges. And, 410 00:14:56,370 --> 00:14:59,269 I I think we're we're that perfect size 411 00:14:59,970 --> 00:15:03,009 of mass, but nimbleness that we can make 412 00:15:03,009 --> 00:15:05,889 these changes rapidly, and, we're not burdened by 413 00:15:05,889 --> 00:15:06,389 bureaucracy. 414 00:15:07,649 --> 00:15:09,330 Yeah. No. And I and I guess I 415 00:15:09,330 --> 00:15:10,727 told a lie because you did bring up 416 00:15:10,727 --> 00:15:12,924 such an interesting point there as it relates 417 00:15:12,924 --> 00:15:13,824 to potential 418 00:15:14,444 --> 00:15:16,464 direct to employer contracting and whatnot. 419 00:15:16,845 --> 00:15:19,884 In my recent conversations with orthopedic groups across 420 00:15:19,884 --> 00:15:22,684 the country, it seems like, particularly around the 421 00:15:22,684 --> 00:15:24,865 size and scope of ortho window OrthoIndy, 422 00:15:25,309 --> 00:15:28,350 it seems like more independent orthopedic groups like 423 00:15:28,350 --> 00:15:31,250 yours are taking a harder look at potentially 424 00:15:31,309 --> 00:15:31,870 some of these, 425 00:15:32,589 --> 00:15:35,149 direct employer contracts. Is that something that's top 426 00:15:35,149 --> 00:15:36,209 of mind for Orthoindo, 427 00:15:37,070 --> 00:15:37,889 as you consider 428 00:15:38,254 --> 00:15:40,014 or tackle some of these headwinds? I'd love 429 00:15:40,014 --> 00:15:41,695 to kinda get your perspective there before I 430 00:15:41,695 --> 00:15:42,434 wrap up. 431 00:15:42,975 --> 00:15:43,475 Yeah. 432 00:15:44,174 --> 00:15:45,774 Dan, once again, this is like an individual 433 00:15:45,774 --> 00:15:46,274 perspective. 434 00:15:46,654 --> 00:15:48,334 I I don't speak for the group in 435 00:15:48,334 --> 00:15:50,014 this regard, but, you know, I I think 436 00:15:50,014 --> 00:15:52,975 it's it's one of those scenarios where, you 437 00:15:52,975 --> 00:15:55,200 know, if you're a large enough group that 438 00:15:55,200 --> 00:15:57,379 you can handle a large influx of volume 439 00:15:58,000 --> 00:16:00,639 and you have a geographic footprint that, you 440 00:16:00,639 --> 00:16:02,879 know, an employer with, you know, a bit 441 00:16:02,879 --> 00:16:05,540 of a geographic spread needs you know, has 442 00:16:05,920 --> 00:16:08,259 maybe, employees all over the place. 443 00:16:08,894 --> 00:16:09,875 And, you know, 444 00:16:10,415 --> 00:16:13,375 insurance companies are becoming you know, they're they're 445 00:16:13,375 --> 00:16:15,795 combative. They're they're they're challenging to, 446 00:16:16,175 --> 00:16:18,754 work with from as an individual physician standpoint. 447 00:16:18,894 --> 00:16:21,455 Right? They they cave to these big groups 448 00:16:21,455 --> 00:16:24,190 because of that old economy of scale discussion. 449 00:16:24,649 --> 00:16:26,730 Well, if you can offer a superior outcome 450 00:16:26,730 --> 00:16:27,789 and a, you know, 451 00:16:28,649 --> 00:16:30,269 a a superior patient experience, 452 00:16:31,610 --> 00:16:33,610 why can't you go to that employer and 453 00:16:33,610 --> 00:16:36,329 and, you know, maybe pass along some kind 454 00:16:36,329 --> 00:16:38,835 of savings to them, by offering that kind 455 00:16:38,835 --> 00:16:40,054 of direct employer 456 00:16:40,434 --> 00:16:40,934 negotiation 457 00:16:41,475 --> 00:16:42,934 for their for their employees. 458 00:16:43,554 --> 00:16:45,315 I mean, everybody wins then. Right? They're the 459 00:16:45,315 --> 00:16:47,235 the employer is saving money. The patients get 460 00:16:47,235 --> 00:16:48,134 a better experience. 461 00:16:49,875 --> 00:16:52,190 And, you know, the the reason why we're 462 00:16:52,190 --> 00:16:54,190 pushing that is because, hey, we don't have 463 00:16:54,190 --> 00:16:54,690 the 464 00:16:55,710 --> 00:16:58,610 the the the mass of of, negotiators to 465 00:16:58,909 --> 00:17:01,009 chase after, you know, a big, 466 00:17:01,629 --> 00:17:04,049 you know, national insurance company with. So, 467 00:17:04,589 --> 00:17:06,315 I I think that's something that, like, you 468 00:17:06,315 --> 00:17:07,534 know, is gonna become 469 00:17:08,634 --> 00:17:10,554 it's not something maybe as a solution for 470 00:17:10,554 --> 00:17:13,274 every group to pull off. But if you 471 00:17:13,274 --> 00:17:15,034 have a group that is of a certain 472 00:17:15,034 --> 00:17:15,534 size, 473 00:17:16,154 --> 00:17:17,914 you know, it's something that we can it 474 00:17:17,914 --> 00:17:20,359 definitely would be it's definitely on our radar, 475 00:17:20,359 --> 00:17:22,119 and I think it's becoming something that we're 476 00:17:22,119 --> 00:17:23,179 hearing this discussion 477 00:17:23,799 --> 00:17:26,299 occur around the country more and more frequently. 478 00:17:27,159 --> 00:17:29,480 Yeah. No. Fascinating to get your perspectives there. 479 00:17:29,480 --> 00:17:31,399 And I know indeed speaking from for yourself, 480 00:17:31,399 --> 00:17:33,079 a member member of the group, but not 481 00:17:33,079 --> 00:17:33,720 for the group, I really appreciate your perspectives. 482 00:17:35,215 --> 00:17:35,615 Perspectives. 483 00:17:36,095 --> 00:17:38,174 Doctor McMains, so great to have you back 484 00:17:38,174 --> 00:17:38,914 on the podcast. 485 00:17:39,455 --> 00:17:41,855 Really, really enjoyed this conversation, and I look 486 00:17:41,855 --> 00:17:43,215 forward to speaking with you again down the 487 00:17:43,215 --> 00:17:43,715 line. 488 00:17:44,255 --> 00:17:46,035 Really appreciate it. Thank you so much.