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Five Business Principles For MedTech Success in 2014 (#3)


Posted in Medical Device Business by Arundhati Parmar on December 11, 2013

 

Transparency Is Key

  •  The healthcare industry as a whole, and the medical device industry especially, has been a black box when it comes to transparency, be it in terms of price or effectiveness

  •  In recent years, there has been more of a push toward price transparency by providers and insurance companies who are responding to the consumerization of healthcare, but now it's time for the device industry to play ball

  •  It's a question of adopting price transparency or being forced into it through legislative action or through hospital buying behavior

  • Engaging in comparative effectiveness would help to gather data about clinical outcomes that in turn would help in the overall transparency effort

 


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