The Key Challenges Facing Medical Device Manufacturers
Accountable care and value-based reimbursement models are causing a seismic shift in the medical device industry. In the new medical device market, the value of the device and data alone will not drive sales. instead, it will be solutions that bundle device, data, and real-time analytics that clinicians, health systems, and payers will want to buy. For improved decision-making and outcomes, they need these solutions to deliver actionable information into existing electronic medical record systems and health information exchanges. And they need them to provide the efficacy and results data required in value-based reimbursement models.
In this environment, nearly every manufacturer of medical devices faces two key, interrelated challenges:
- How to adapt to the shift to value-based payment models
- How to protect margins with products that elude commoditization
You can meet these challenges by using a strategic interoperability platform to create solutions with leading-edge integration, data aggregation, and analytics capabilities.