Medtech manufacturers must compete by providing value beyond their products
Leila Bautista - Medtech Analyst
Slowing of Innovation
In recent years, innovation has slowed down and product differentiation has become increasingly difficult.
Difficult to Differentiate
Physicians view non-inferior products as interchangeable, which results in lower margins.
Need to Shift the Conversation
In the future, medical technology manufacturers need to shift the conversation to competing beyond the product.
See the OpportunityMedtech manufacturers must compete by providing value beyond their products
Ian Swanson - Medtech Consultant
Flip the Script on Commoditization
Instead of looking at differentiating on the product alone, manufacturers need to move beyond by adding value, services, and those things that are important to the customer beyond the product.
Explosion in Digital Devices
Medtech manufacturers can move beyond providing a well-functioning device and start engaging the patients themselves in their own care. Providing better data to the physician and patient will improve patient outcomes.
Building a Better Patient Journey
More information, better technology, and digitally involving the patient and the pharmas to build better outcomes for the patients, provides many ways to compete differently.
DRG Helps Solve These Problems
Through patient journeys, treatment algorithms, and analytics, DRG can help companies compete and find growth successfully.
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