Lead engineers oversee the braintrust of medical device companies. Those working in medtech earn about 2.6 times the average salary for all medtech occupations but make slightly less than the national average for their position across all industries.
Annual Mean Wage for Engineering Managers in Medtech: $137,730
Financial managers oversee accounting activities and other money matters at medical device companies. Those working in medtech earn about 2.5 times the average salary for all industry positions and take home 1.7% more than the national average for their position.
Annual Mean Wage for Financial Managers in Medtech: $132,490
Computer and information systems managers keep the technology that helps medical device companies innovate humming. Those working in medtech earn about 2.5 times the average salary for all industry occupations but take home slightly less than the national average for their position across all industries.
Annual Mean Wage for Computer and Information Systems Managers in Medtech: $131,090
Charged with hiring, firing, and other personnel matters, human resources managers are a vital part of any company. Those working in medtech earn about 2.4 times the average salary for all industry occupations and take home about 8.5% more than the national average for their position across all industries.
Annual Mean Wage for Human Resources Managers in Medtech: $123,880
If you want to pad your paycheck, try to land one of these jobs at a medtech company.
Medtech employees overall enjoy pretty good compensation. The average salary for all medtech occupations is nearly 11% higher than the national average, according to the U.S. Department of Labor's Bureau of Labor Statistics.
Still, some industry jobs pay better than others. Here are the 10 highest-paying positions in medtech.
Market landscape studies are critical to help medical device manufacturers identify potential barriers to product acceptance before it’s too late.
It’s hard to believe that if a better product came onto the market, physicians wouldn’t jump at the chance to provide better care for their patients. Unfortunately for product developers in the discovery phase, this is rarely true. It is an easy trap to fall into: The product is better, so why wouldn't customers want it?
The reality is that the people making purchasing decisions don’t always see the need for a better product. This is also the hardest truth for product...
CDRH director Jeffrey Shuren tells legislators that FDA should be the regulator of next-generation sequencing tests and pledges to develop ways to provide oversight that also encourages innovation in the space.
Over the past several months, FDA has been considering how best to regulate an especially rapid area of development—next-generation sequencing (NGS) tests. FDA oversight of the space has been somewhat controversial, with some in industry believing the agency is too slow-moving to keep pace.
This week, CDRH director Jeffrey Shuren plugged FDA as the proper regulator for NGS tests and admitted that the speed of innovation presents some hurdles for the agency. Speaking at a May 5 Senate Health, Education, Labor, and Pension (HELP) committee hearing on precision medicine,...
Why are we still waiting for wide-ranging diagnostics tests to be routinely available where they’re needed most?
Microfluidics technology has long promised to revolutionize healthcare by enabling diagnostic tests to be performed at the point-of-care. The vision is compelling: a doctor loads a tiny sample of a patient’s blood, or other body fluid, into a disposable “chip” and inserts that into a portable instrument. Minutes later, the results allow treatment decisions to be made on the spot.
Despite the promise, relatively few diagnostic tests are routinely used at the point of care. There are notable exceptions, such as Abbott’s iStat system, urinalysis test strips, glucometers, blood gas...
The keys to fending off requests for a discount are holding your ground and calculating what the hospital is billing for your product.
Most of my medical device manufacturing clients struggle to defend their price at the hospital and group purchasing organization/integrated delivery network (GPO/IDN) levels. I often watch their sales people surrender price, terms, conditions, and even gratis product to hospital buyers or buying-group managers with little to no pushback. The most common response to a buyer’s request for a discount or better terms and conditions is either “This is the best price I am allowed to give” or “I’ll have to talk to my manager and see if we can do that.”
These responses sometimes put off the decision to reduce prices for a time,...
It's no secret that reimbursement is a key concern for the device and diagnostic industry. But recent commentary from a Genomic Health executive shows that even when the reimbursement news is good, there's still room for complications.
In recent years, reimbursement for medical devices and diagnostic tests has replaced regulatory approval as the top worry for industry executives. It's not enough to be able to win reimbursement coverage from Medicare and private insurers. That reimbursement payment must also be high enough not to put the product at a financial disincentive in the eyes of hospitals and other customers.
The reimbursement updates from diagnostic testing...