The Stryker Family and John Brown

      

From left to right: Ronda, Pat, and Jon Stryker; John Brown

Sibling heirs Ronda ($3.7B), Pat ($2.2B), and Jon Stryker ($1.93B), as well as long-time company chief executive officer John Brown ($2B), all became wealthy through Kalamazoo, MI-based Stryker Corp...

March 26th, 2015
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OEMs without 3-D printers of their own can take advantage of the technology by working with an outsource partner that offers additive manufacturing capabilities. 

Bill Camuel

Partnering with a service provider gives OEMs access to a full range of additive manufacturing equipment and engineering expertise.

Three-dimensional (3-D) printing has been widely recognized for its potential to build complex designs, shorten lead times, and improve manufacturing efficiencies in a number of industries. For medical device manufacturing in particular, where speed-to-market can affect not just companies...

March 26th, 2015
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Medical devices businesses can sometimes be highly profitable. Here are a few people who have the medtech industry to thank for their wealth.

Marie Thibault


Everyone is familiar with the young Silicon Valley entrepreneurs who have made billions off their inventions. But the medical device business, another R&D-heavy industry, has its fair share of billionaires too.

We reviewed the Forbes 400 list of the 400 richest people in America, and found ten major medtech fortunes. While some riches were amassed through gradual company growth and when companies were acquired, one of...

March 26th, 2015
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Manufacturers must realize that the new FDA medical device database makes data its own product.

Rajesh Misra and William Poetker

FDA rules require medical device labelers to submit data to the Global Unique Device Identification Database (GUDID) for the highest-risk medical devices and will soon expand to moderate risk (Class II) devices in September 2016. Collection of this data poses a set of issues for device makers, including where the data resides, how it is reviewed, and its eventual dissemination to stakeholders.

The accuracy of the submitted data is an important to the success of the Unique Device Identification (UDI) system, which aims...

March 26th, 2015
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The increasing focus to develop a patient-centered healthcare system has led to an interest in including patient-reported outcomes in quality metrics. But there is a problem with that. 

Arundhati Parmar

It used to be that patients weren't much on the mind of device makers and other healthcare stakeholders as they made decisions about what products to use and procedures to follow in caring for patients.

In the device world, manufacturers would develop relationships with physicians who had a big influence - if not the sole influence - in purchasing decisions at a hospital.

Now with widespread use of the Internet, consumerization of healthcare and other trends, patients have become more empowered and looking to have a say in their own healthcare. As such, there is a growing...

March 25th, 2015
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Hip replacements cost dramatically different based on location, a factor causing frustration among payers and self-insured employers.  

Arundhati Parmar

You've heard this before. The same procedure involving medical devices ends up being priced differently depending on where you are.

Device makers are to blame somewhat who have created an opaque system by using confidentiality clauses that prevent people knowing the exact price of an hip or a knee for instance.

And then there are hospitals and health systems who use their clout to negotiate higher reimbursement than others on the exact same procedure from insurers.  

In 2013, the...

March 24th, 2015
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There is a huge focus on health and wellness these days, but what's the goal and who gains the most? The answer may be surprising.

Arundhati Parmar

Health and wellness got a tremendous boost with the passage of the Affordable Care Act in two ways.

One, the law enacted in 2010, requires employers to offer wellness programs with different goals for employees. And second, health plans were mandated to cover preventive services without charging people co-pays or co-insurances. These include everything from smoking cessation programs to obesity screening and counseling, and immunization...

March 24th, 2015
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It is time for FDA to fulfill its primary mission of protecting public health and put patients first.

Hooman Noorchashm MD, PhD and Amy J. Reed MD, PhD

Hooman Noorchashm & Amy Reed

Over the past decade a number of medical devices have come under significant scrutiny for safety failures that have demonstrably led to significant morbidity and mortality in patients. This issue was recently brought into the limelight by The Wall Street Journal’s reporting on a disaster in women’s health caused by a device known as a power morcellator. Like the wide majority of medical devices in the United States, these morcellators were cleared for marketing in the early 1990s by FDA using the 510(k) process. Tragically, these devices have caused...

March 23rd, 2015
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Last year, the Centers for Medicare and Medicaid Services released results of the Pioneer ACOs and now the agency has released the next generation model for accountable care organizations.

Arundhati Parmar

The results of the Pioneer ACO program are mixed at best. While 32 health provider organizations started, only 19 remained as many participants left the program.

Still, some were able to win significant savings, according to the Brookings Institution, and the Centers For Medicare and Medicaid Services remains optimistic...

March 23rd, 2015
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Tinnitracks

They say music is good for the soul, but Hamburg, Germany-based Tinnitracks is leveraging it to treat tinnitus, an annoying ringing in the ears that affects as many as one in five people. The company's app prompts users to input the frequency of their tinnitus and then filters that frequency out of the digital music files they listen to on their computers. 
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March 20th, 2015
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