Quality Data Key To Today’s Medical Device Industry Trends.
Medtronic always has been at the forefront of medical device industry trends. In a recent interview on MassDevice.com, Medtronic CEO Omar Ishrak explains the need that a lot of life sciences companies have to prove the overall economic value of their technologies.One of today’s most challenging medical device industry trends is that medical device innovation must demonstrate economic value. In fact, lowering costs is now mandated with the recent health care law changes. “Economic value, in simple terms, is projecting our value proposition in financial terms for our customers, not only the clinical benefits, but the financial benefits,” Ishrak says. This kind of thinking, he adds, is transforming Medtronic’s strategic priorities for the coming years.But health care’s very nature makes it difficult for companies to present medical devices not as a cost, but as an investment.
Article originally posted on our Infinity CRM for Medical Device Organizations website.