Understanding Medtech Markets Today - A Roundtable Discussion

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The trend in healthcare has been moving towards value-based care and it’s clear that cost concerns and pressures are affecting the broader hospital system. The challenge is always the speed of transition because the notion of value has changed and isn’t the same for everyone. Earlier, it was about outcomes first, then quality, then cost. Today, for some, cost comes first, then quality, then outcomes. The messaging has also changed to being value-based - clinical, operational, and financial, with the last two driven by new decision-makers. If you go to an IDN or GPO, the decision can be more financially driven. But if you’re talking to imaging centers, non-administrative physicians usually still make the call there. Companies no longer define the value of their technology by the single episode in the OR or cath lab, or ICU, but have started addressing the broader episodes of care, from pre-op to intra-op to post-op.

Keeping the above in mind, senior executives from Siemens, Boston Scientific, Medtronic, Endologix & ZS brainstormed on critical questions, including:

  • Is innovation all about lowering costs, rather than better technology and enhanced technological capabilities with improved outcomes?
  • How do broad-based companies with multiple divisions respond to top-driven initiatives and strategic goals?
  • Are we now in a world where physicians have considerably less say in what devices get adopted and purchased? How has the discussion with physicians changed? While crafting the marketing and sales messages, where does the physician fit?
  • Will the medical device industry soon experience a pricing scrutiny similar to what the drug industry is facing?
  • A lot of healthcare reform efforts and cost scrutiny focus on managing chronic care. Should device companies be addressing chronic conditions?
  • Going forward, will digital technology be transformative?

Download the discussion report to understand the current landscape of the medtech industry ( /-/media/pdfs/understanding-medtech-markets.pdf?la=en ) .