Transcript:

We have been thinking about this in terms of the personnel that a medtech manufacturer needs to interact with as far as commercializing a product goes. In the past we know physicians have had a big influence on both what is used at the hospital as well as what is purchased. But in the last few years, we have seen that non-clinical stakeholders have more of an influence on what is being used at the facility.

What that means is that medtech manufacturers now -- in addition to understanding what physicians need and what’s going to drive their preferences -- they also need to understand the needs of non-clinical stakeholders and how they can partner with them to provide resources in support of their decision making when they are picking a device or a brand, or a manufacturer to partner with.

We have been thinking about this in terms of it being competitive lever that manufacturers can use. So, where everybody else is only able to provide a great product in terms of clinical outcomes, you are able to provide not only a great product in terms of clinical outcomes, but you can also provide cath lab management, for example, which is something that the hospital has been struggling with. They don’t have a schedule of their program, they don’t have optimal efficiency in outcomes. You as a manufacturer understand this space, so can help them build their cardiovascular program and their cath lab program. So, not only you are providing an effective product, but you have established yourself as a partner that’s providing value-added services to the vendor.

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