Webcast as Marketing Tool
BY DAVID KRESSEL, NOVEMBER 8, 2005
Although we are focused on the orthopedics industry, we recently came across the announcement of an alliance in the cardiovascular industry that interested us. Although the technology and deal size were noteworthy, we also noticed the company cited a webcasted surgery demonstration as an important tool in the marketing of the company. We've noticed that webcasts have become an increasingly common event in orthopedics as well. For example, Swiss Spine Institute just held its 3rd Trans Atlantic Spine Conference with Texas Back Institute. It involved two days of surgery demonstrations, televised both in Texas and Switzerland, showcasing the latest in surgical techniques using the latest product innovations.
Although originally used as a CME and lecturing tool, these webcasts have found a new use as a marketing vehicle. Typically, physicians and their hospitals have paid to produce the webcasts to show off a team's skill or showcase a new procedure. Webcasting cost up to $40,000 but many hospitals find it worthwhile because roughly 70% of the viewers are consumers. Hospitals see an uptick in specific procedures as a result of the webcasts. Physicians also view the webcasts because it is a good way for a GP or referring physician to learn about a given intervention.
More recently, device companies are using these webcasts to showcase their products. With sufficient digging, you can find webcasts on all the major ortho device manufacturers' websites. It is particularly useful with novel devices or with MIS procedures, since patients are more positively disposed to watching and gaining comfort with those sorts of procedures.
The industry leader is OR-Live, which is the hosting service of one of the production companies. They have a comprehensive library of filmed surgeries that can be viewed on demand, as well as a listing of upcoming procedures. Watching their webcasts is a great way to learn about cutting edge orthopedic surgery.
