ImplantBase Growth Accelerates with Digital Transformation Imperative

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All-in-one cloud-based software platform poised to lead orthopedic implant industry into new era

2018 has all the makings of a banner year for ImplantBase, the creator of the industry-leading, cloud-based software platform that drives digital transformation for orthopedic implant manufacturers. In addition to record growth in new implementations of its platform, the company has unveiled a refresh of its brand and digital presence. Amid growth of over 125% in its current client base in the last two years, ImplantBase has also secured several high-profile new clients deploying its SaaS solution to revolutionize their finance, sales, and operations functions.

The digital transformation imperative

Digital transformation is old hat for certain industries—it’s arguably in its third wave as a buzzword by this moment. And, certainly, digital technologies are not new—the vast majority of modern-day enterprises have incorporated multiple digital technologies in their technology stacks. Yet, digital transformation is broader than the use of digital technology; it refers specifically to a sea change in the way companies actually handle the process of doing business. The revolution of operational process and business model through digital transformation has swept through B2B and B2C companies in the last two decades. As a result, routine and mission-critical processes are transformed, freeing business resources and employees to work in new and optimal ways.

For other industries, digital transformation is becoming an imperative, but adoption of the technologies and embrace of the processes to manifest transformation has been slow. The orthopedic medical device industry is one ripe for digital transformation—and transformation will drive the kinds of gains and innovations that have swept through other industries.

Ethan Lauer, ImplantBase’s CEO, explains his perspective: “We certainly view ImplantBase as a digital transformation firm providing digital capabilities to drive performance enhancement for our customers. Over the course of the last ten years, we’ve developed our expertise in doing just that.” Chris Wilson, co-founder and ImplantBase’s Vice President of Operations, adds: “Digital is a popular buzzword. The key here, though, is that what we’re doing is not just digitizing processes. We’re in the business of digital transformation.” He adds that the typical ImplantBase client is a manufacturer that has, over time, evolved processes that span multiple systems and rely on tedious, manual data entry or multiple steps. “What you see when you go into these places that have been around for a few years is that their processes are the result of incremental changes, of incremental improvements. ImplantBase can transform so many of these processes into automated and repeatable actions.”

Moreover, digital transformation can reduce the chaos that batters manufacturers in this industry. “There’s a ton of time spent wrangling inventory or entering data manually—and that time could be spent on building relationships or getting the most out of under-utilized field inventory,” Wilson says. “First, digital transformation can help manufacturers optimize everything they’re doing, from unlocking cash that’s stuck in working capital to relieving sales administration from the time-consuming process of hunting down a particular device or part and who has it.” He goes on to say, “Once that sort of gain has been made, digital transformation is about having more resources—in time and money—to invest in R&D and other forms of innovation. That’s where true acceleration can take over.”

The digital transformation imperative is entwined with a healthy future, in ImplantBase’s view of the industry. “We’re seeing a lot of complexity brewing for the orthopedic medical device industry. With increases in regulatory oversight and other regulations, and increasing competitive pressures, it’s hard for manufacturers of any scale to become—and remain—competitive. We see digital transformation as a way for these manufacturers to ensure they’re playing at the optimal level and taking advantage of technology and development to lift them to the next stage,” Lauer says.

Marking nearly a decade in business
From ImplantBase’s inception in 2009, understanding and transforming the industry system has been its mission. To that end, ImplantBase has worked with an array of orthopedic implant companies to continually refine its platform. The result includes solutions and implementation services particularly suited to the complexities of the industry. “Over the course of the last ten years,” Lauer explains, “we’ve been focused on becoming experts in understanding our customers’ challenges and applying our solutions and services to help them overcome these obstacles.”  

Lauer is a former medical device sales and operations veteran. He began his career as a US Army logistics officer in the 1st Cavalry Division, where he and his teams struggled with antiquated systems while managing logistics operations of various sizes. That experience sparked his interest in automation and software. From the Army, he embarked on roles as a sales rep and sales manager for a multi-manufacturer medical device distributor, where he gained experience in spine, joints, trauma, bracing, and biologics. In 2005, he founded a surgical neuromonitoring company, NeuroTechs. “That’s when I began to understand the power of custom software to drive efficiency, revenue, and innovation,” Lauer recalls. That discovery led to his founding of NeuroStream, a software startup to serve the neuromonitoring industry. He began to build ImplantBase’s core product and team in 2009.

Cofounder Chris Wilson drives the operations and product strategy side of the business. A business process and technology consulting veteran, Chris also began his career as a logistics officer in the US Army. After his stint in the Army, Chris founded a web design company, an opportunity which led to leadership of the Information Architecture practice for Enterpulse, a regional consultancy based in Atlanta, GA. He parlayed this experience into a position as a founding member of IBM’s Healthcare and Life Sciences vertical, where he led implementations among other leadership roles. “The opportunity to focus on reinventing the way business is done in the orthopedic implant industry appealed to me on every level as a professional,” Chris says. “I’ve never looked back.”

Solutions, services, and industry expertise
ImplantBase’s all-in-one cloud-based software platform delivers powerful, real-time control over inventory, case management, and sales—transforming performance across a business.

“It’s about repurposing the kind of work a manufacturer’s teams can do,” Wilson says. “We all know that more engagement results in better performance, which drives profits. But that better performance also improves morale and retention, so it’s a win across many levels.”

Inventory efficiency, improved sales operations and more informed decision-making are just a few of the rollout benefits for manufacturers. Reduction in Days Sales Outstanding can drive quick ROI. “The reduction in days sales outstanding tends to be a pretty quick payback,” explains Lauer. He says that, in larger businesses with much higher volume and more people involved in the process, “the payoff is an order of magnitude greater.”

Implementation is handled in five steps, and timeline can vary depending on manufacturer size. ImplantBase offers full integration with all major ERP, supply chain, and finance systems. For small and midsize manufacturers, ImplantBase and QuickBooks can, together, stave off the necessity of purchasing a costly ERP system until revenues reach $100 million. And, the ImplantBase User Community offers the collective wisdom and best practices of active ImplantBase users at every scale across the industry. “So it’s not just you on an island,” Wilson says. “You have the ability to understand what is working for others.” With a 97% sales rep adoption rate and 25 successful implementations with zero failures, ImplantBase has an impressive track record of success.

A new site for the next chapter

Recognizing its growth trajectory and its opportunity to lead digital transformation for the industry, ImplantBase worked with Continion, an Austin, TX-based digital experience marketing firm, to create a new website. “It was time to tell our story,” Lauer says. “This is an important moment in the evolution of the industry and in the trajectory of digital transformation. We wanted to seize that.”

ImplantBase’s new site launched on August 3.

About ImplantBase

ImplantBase helps orthopedic medical device companies drive operational performance through digital transformation to expand market growth and increase patient value. Based in Austin, TX, ImplantBase was founded in 2009 by industry professionals with extensive custom software development and SaaS implementation experience. ImplantBase is currently in use with 25 manufacturers and hundreds of distributors. For more information, visit https://us.implantbase.com.

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