OrthoWorx Interns Present Summer Value Chain Model Project to Stakeholders

OrthoWorx hosted a presentation of the Orthopedic Value Chain Model (VCM) for industry and university partners July 30, 2015, at Champagne Jam.

The presentation was the culmination of eight weeks of research for seven interns at OrthoWorx.
The OrthoWorx University | Industry Advisory Board had earlier identified the need to develop a process or value chain map of the key elements of the orthopedic industry to be able to better communicate with OrthoWorx academic partners and key audiences regarding key processes, unmet needs, skills sets required and identification of potential projects. To this end, the interns worked together and collaborated with orthopedic industry professionals and university faculty advisors this summer to create a value chain map for a generic orthopedic company.

“The expansiveness and complexity of the orthopedic industry is surprising. The goal of the project has been to provide a vehicle to illustrate this and to facilitate discussions of opportunities for university and industry collaboration,” stated Sheryl Conley, OrthoWorx President and CEO.

The OrthoWorx interns project team was comprised of students from IPFW, Indiana University, Manchester University, University of Notre Dame and Trine University. Their major areas of study included Mechanical Engineering, Finance, Biology, and Healthcare Management and Policy. Two team members were graduate students in MBA programs.

During the eight weeks of their internships, the team members interviewed over 60 content experts and visited original equipment manufacturers (OEMs) in and around Warsaw, as well as several suppliers, a distributor’s office and hospital partners. The completed VCM project covered the life cycle of a knee product, from conception to implantation and reimbursement.

The project was well received by all in attendance and generated interest for further analysis of the orthopedic industry. Over 40 industry and university members were in attendance at the presentation of the VCM. Comments from attendees ranged from “best student presentation ever” to “extremely detailed but very relatable.” OrthoWorx will use the VCM project to further educate its member academic institutions about the disciplines and skills required in the orthopedic industry and to develop future collaborations, including experiential learning opportunities for faculty and students.