Five Business Principles Likely to Bring Success in 2014 (#5)

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


Re-engineer Workforce

  • Medtech firms now need to rethink the talent they hire
  • Companies have begun to have smaller sales teams and many large companies have already laid off sales and marketing representatives
  • In place of them, they need to hire health economists and data crunchers as the customer base widens from exclusively physicians to hospital administrators and others who have a laser-like focus on costs, according to L.E.K. Consulting
  • Hire people from outside the healthcare industry - such as in retail and consumer electronics - who are able to address consumer needs and experience

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Interested in what executives are thinking about for 2014. Attend the MD&M Executive Summit, Feb. 10-11 at the Anaheim Marriott.


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