Medical device makers pivot towards value-based care: 7 thoughts

Spinal Tech

A study from PwC shows that as the industry shifts more towards value based care, healthcare device makers are rethinking what they bring to market in an attempt to help patients and physicians improve quality and efficiency, Healthcare IT News reports.

Here's what you need to know.

 

1. Manufactures of diagnostic, imaging and implant tools are rolling out services in an effort to increase patient engagement and improve clinical performance.

 

2. PwC's Health Research Institute examined the 10 leading medical device companies by revenue and have looked at how they reshaped their organizations and strategies in recent years.

 

3. The study found established players were expanding their portfolio offerings to include cloud-based tools to streamline clinical workflow, remote monitoring and real-time analytical capabilities for physicians. They often incorporate clinician and consumer perspectives into the technology designs.

 

4. The tech companies are now focusing on devices that go beyond the point-of-care.

 

5. New tech companies are taking a holistic view to healthcare, with devices centered on improving clinical technology and at-home care with service offerings and subscriptions bringing in revenue to new products.

 

6. Physicians are "eager for aid in meeting new (Center for Medicare and Medicaid Services) requirements.

 

7. Consumers "desire convenient, mobile and user-friendly care. The medtech industry is using digital tools and services to pair these new consumer expectations with clinicians' needs to monitor health outcomes, analyze results of medical interventions and share that information quickly and efficiently with other providers, other devices and patients."

 

More news related to spine and orthopedic devices:
AdvaMed, device companies seek clarification on 3D printing FDA regulations: 5 things to know
SeaSpine to acquire NLT, boosting MIS product offering — 5 key points
US implantable medical devices market to hit $73B by 2018; orthopedic implant sector to dominate: 5 takeaways

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