The Pacemaker

AUTHORS

Andy-kach_thumbnail
Andy Kach
Principal
Bhargav_Mantha_thumbnail Brian_Chapman_thumbnail
Brian Chapman
Principal
Maria_thumbnail Matt-Scheitlin-London_thumbnail Tobi_Laczkowski_thumbnail Will_Randall_thumbnail

Latest Posts

Medtech Firms Must Innovate With Hospital Economics in Mind

Posted by Brian Chapman on May 21, 2015



iStock_000027206088_SmallZS surveyed members of the Healthcare Leadership Council and presented findings at the National Dialogue for Healthcare Innovation summit in Washington, DC. My colleague Bill Coyle led the effort, which studied healthcare executives to highlight the issues facing our industry.

Bill and I were recently interviewed by Ashley Yeo from IN VIVO magazine in a wide-reaching discussion that touched on many of the challenges facing the industry. We covered the lack of data standards in patient records, the need for a durable payer-patient relationship and a few other topics, but what I have been thinking about ever since is the part of the discussion about innovation.

We talked about how innovation is changing and how the manufacturers need to think much more about what their innovation means for the entire hospital, in terms they care about. Reflecting on this, I think we are adapting well as an industry. There is still work to be done but R&D pipelines are now explicitly screened in most medtech companies for their impact on hospital economics. We see more and more the messaging and value-in-use tools for engaging with the full complement of hospital stakeholders.

But the thinking about business integration seems to be missing, as does surrounding the pure product offering with tools and services. Creative financing options for capital are an example of what has been around for a while. But there is still plenty of room for innovation in other areas of the business—things like procedure-based pricing models, outcomes-based arrangements, supplier integration tools and other supply chain solutions are still a long time in coming.

What excites me about our current state is that even as the lifecycles of the traditional product lines start to flatten, there is still plenty of room for business model innovation.

Read the full interview: “Medtech Innovation Isn’t Dead, It’s Just Different,”

Topics: Innovation, Health Care, medical devices, medical products and services, medtech, diagnostics, Brian Chapman, value, healthcare leadership council, Ashley Yeo, National Dialogue for Healthcare Innovation, IN VIVO

Click here to subscribe to The Pacemaker

Leave a comment

AUTHORS
Brian_Chapman_thumbnail
Brian Chapman
Principal,
ZS Associates
Tobi_Laczkowski_thumbnail
Tobi Laczkowski
Principal,
ZS Associates
Will_Randall_thumbnail
Will Randall
Manager,
ZS Associates
Matt-Scheitlin-London_thumbnail
Matt Scheitlin
Associate Principal,
ZS Associates
Andy-kach_thumbnail
Andy Kach
Associate Principal,
ZS Associates
Bhargav_Mantha_thumbnail
Bhargav Mantha
Associate Principal,
ZS Associates
SUBSCRIBE

Get 'THE PACEMAKER' Updates

Subscribe to receive email notifications whenever new blog posts are published.

×

Subscribe by Email

Search by Topic

see all