Digital Diagnosis

MedTech Project Leaders Aim to Alter the Healthcare Landscape

theEdge

As the global pandemic continues to alter every inch of the healthcare landscape, medtech project leaders are bracing for disruption—and ready to respond.

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The Next Norms

Medtech analysts are seeing an uptick in these types of initiatives:

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1. Developing virtual sales strategies. While switching to Zoom got sales reps through the first few months of the pandemic, only true change management will help organizations overhaul everything from technology infrastructure to customer engagement platforms.

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2. Expanding product portfolios. Incorporating more innovative products and data-enabled, connected devices will help support realtime tracking. Analysts expect a surge in M&As to feed the need for tech breakthroughs.

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3. Increasing commercial capabilities. Outpatient centers, like office-based labs and ambulatory surgery centers, need a prescription for change. Since the pandemic began, procedures have migrated away from hospitals and toward these settings.

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4. Going remote for clinical trials. Telehealth and remote device monitoring are making it easier to mine patient-generated data for clinically significant insights.

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5. Marketing direct to consumers. Medical devices appear far less often than prescription medications in campaigns to consumers. But the TV and social media ads featuring medical devices took off during the pandemic and could upend that norm.

Sources: Pulse of the Industry: Medical Technology Report 2020, EY, 2020; “Medtech Leaders Prioritize Technology and Consumers,” Deloitte, 2020; “Medtech: The Post-Covid-19 Growth Strategy,” Bain & Co. 2020; MedTech Dive 2020

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