Earlier this year, I was interviewed by Ashley Yeo, the executive editor of In Vivo. He wanted some thoughts about what was on the mind of medtech executives. It got me thinking about a couple of key themes:
1. With all of the discussion of transformation, value-based care, integrated selling and consolidation, it’s clear that we’re an industry in transition, but progress is maddeningly slow and customers are all moving at very different speeds. Executives need to grapple with how to time the change, and to be ready for the future while still succeeding today. This last point on succeeding today means that some of the biggest commercial investments might actually need to come in more mundane areas like analytics and commercial operations instead of more investment in the field.
2. In 2017, we were reminded that we can’t ignore the supply chain. A few hurricanes in the wrong parts of the world can be devastating, and a loss of focus on keeping a product line trim and streamlined can cause big headaches. The FDA continues with a vision of quality that includes more cooperation and less inspection, which is good, on the whole, but I think that this part of our world will take the attention of executives in the coming year.
Ashley also asked me what I wish for the future in market access. I took the opportunity to imagine a world of real-world evidence in longitudinal patient records, which might be coming faster than we thought, and also to consider how funding flows will eventually spur the commercial success of health tech, which has been a long time coming.
For more on what to expect in the coming year, check out my recent article, “What Will Keep Medtech Industry Leaders Awake at Night in 2018,” in In Vivo.
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