Intuitive Surgical: A Buyer's Perspective

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I'd like to take a step back in time. Could you describe the process of starting a new robotic surgery program for a hospital or hospital system that currently doesn't have one?

Recently, many surgeons have shown interest in using the platform. This is a shift from the initial skepticism we faced when we first started. Back then, I would set up the robot in an operating room and stay there all day. Surgeons would come and go, getting a feel for what it was all about. Now, most surgeons get hands-on experience with the robot during their training, and they are eager to use it once they start practicing.

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If you were to join a hospital system that currently doesn't have any robots, what would be the process for purchasing the first robot?

When we first started, it was more of a guesswork, but now it's more organized. For instance, we're considering buying more robots. This year, I sent out a survey to all the robotic surgeons. It contained twelve questions, asking if they had unlimited availability with the robot, how many more cases could they do a month? The responses varied, but I incorporated them into my proforma to inform the CFO about the potential increase in cases and their profitability.

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How do you determine the profitability or the ROI of that, considering it's a 1.5 million per system investment?

You also have to consider your region, the local hospitals, and insurance providers. All these factors influence whether it will be profitable. It requires a lot of research.

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