The Importance of Data and Connectivity
The country’s top ten medical device manufacturers are looking “beyond the device” to offer new services, including cloud-based tools that streamline clinical workflow. According to Healthcare IT News, these “broader services” drive value. Physicians and hospitals are looking for devices with enhanced storage capabilities, real-time analytical capabilities, and remote monitoring. Data and connectivity improve patient care and streamline the work that needs to be done, so there’s a demand for these types of inventions.
The “Rough Waves” of Medical Device Development
Shark Tank’s Kevin Harrington and Meghan Alonso liken the process of medical device development to the ocean’s rough waves. The metaphor is pretty spot on, especially if you consider the difficulties of raising capital investment, finding development partners, and building a product development plan that works. The secret to navigating the “rough waves” is to take advantage of the medical device consulting services available to you.
It cannot be stressed enough the importance of defining a clear path that takes you from idea to market. Although there is a great demand for innovative new technologies and services, manufacturing and marketing may pose challenges you’re unprepared for. It should also be noted that your competition will be powerful and an already established force in developing and manufacturing medical devices.
The Best Inventions Reshape Organizations
Physicians and health systems are adjusting to new financial incentives and reimbursement models, particularly from the Centers for Medicare and Medicaid Services, and are eager for aid in meeting new requirements. A device or service that can help healthcare organizations overcome these challenges will be well-received and help to reshape the organization.
Of course, life-saving technologies are still valuable, but there’s a growing need for simpler, more user-friendly devices that solve productivity issues. For example, Stryker Performance Solutions have developed an online portal that provides joint replacement patients with important data about their surgery, rehab, and more. It also enables care coordinators to monitor these patients, which should help to cut back on hospital readmissions. MIT is responsible for spinout, which is a schedule-optimization service and helps reduce patient wait times at their doctor’s office.
A successful medical device doesn’t have to be high-tech; in fact, it can be as simple as a more user-friendly and engaging website. The secret to making the technology successful is making it available, and that may require the help of a development team, marketing department, and consulting team. If you have an idea that can help reshape an organization, such as a hospital or mobile clinic, it’s important to share that idea with others and begin the process of turning your idea into an actual invention. There really isn’t a sector that needs it more, as healthcare is comprehensive and responsible for the health of everyone.