Outsourcing opportunities as MedTech transforms Medical device ecosystem
Medical device companies are implementing MedTech solutions to monitor diagnostic devices and discover precision medicines to enhance treatment efficiency. DNA Nanobots, Neuroprosthetics, surgical robots are some advanced solutions redefining the medical device ecosystem.
These solutions have been targeted to enhance the safety level and productivity. Some of the key drivers of technology in MedTech are:
- Operational efficiency and profitability
- Improved quality, safety and reliability of medical devices
- Interoperable EMR for seamless data transfer
- Real time monitoring for self-care
MedTech companies are leveraging these solutions to improve care quality, reduce surging healthcare costs, enhancing patient experience and enable seamless services. Also, automation of redundant tasks reduces workforce fatigue.
- Leica Microsystem’s AR Visualization solution, GLOW800, allows surgeons to observe cerebral anatomy in natural colour, augmented by real-time vascular flow in a single image, with full depth perception.
- Braster Pro, uses liquid crystal contact thermography to facilitate radiation free and painless breast screening experience. This device detects lesions and irregularities in the breast and provides results in the connected mobile device within a matter of minutes.
Service providers are the key enablers for Medical device companies leveraging MedTech solutions. SPs develop products, design cloud architecture and facilitate seamless information transfer to optimize efficiency, improve productivity of medical device ecosystems. This enables them to quickly acquire tangible ROI.
- Cognizant’s AI based solution uses text analytics and advanced ML to capture real time behaviour analysis of a potential drug addict. This predictive care solution identified over 85,000 drug seeking patients and saved $60 million targeted organizational savings.
- Accenture partnered with Philips to connect Google Glass to Philips IntelliVue Solution enabling the seamless transfer of patient vital signs so a doctor has hands-free access to critical clinical information. This improves efficiency and reduces time taken for transfer of critical information.
Regulations, that used to be a stumbling block for technological experiments, are taking steps to accelerate the advancement process. Such favourable circumstances are creating wakes of innovation like minimal invasive surgery using robots, development of biomaterials etc. to generate quicker ROI. Medical device companies are scouting for service providers with subject matter expertise in MedTech solution use-cases to accelerate product development and generate tangible ROI.