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Can Medtech Help Hospitals Overcome Today’s Challenges?

Image by fernando zhiminaicela from Pixabay medical-equipment-4099429_640_slide.jpg
Healthcare executives will share their pain points during an upcoming panel discussion hosted by MedExecWomen.

Hospitals and healthcare systems have been at the forefront in the battle against COVID-19, while also working to provide quality healthcare for all members. Technology has helped in many ways, but challenges remain. Can medtech help?

A panel discussion with healthcare executives taking place on March 30 will explore how medical device manufacturers can help healthcare systems address current challenges and develop strategies for the future. Organized by MedExecWomen,What Hospital C-Suite Pain Points Can MedTech Address in 2021/22?” will feature a panel of healthcare executives including Alan Levine, CEO of Ballad Health, and Amy L. Bush, COO of WVU Medicine Children's Hospital. It is the first of a two-part series on the “Four Ps of MedTech: Physicians, Providers, Payers, and Patients.” Event registration is at: https://medexecwomen.org/events/spring-forum-2021

After the discussion, attendees will be invited into guided discussion groups to review the healthcare organizations’ challenges expressed in the panel. The breakout groups will identify opportunities for the MedTech field to support providers, physicians, payers and patients, and then the whole group will reconvene to learn the top three opportunities each group uncovered.

“It is a tough environment right now with a lot of uncertainty,” said Levine of Ballad Health in a statement provided to MD+DI. “I think the more c-suite executives can network and understand the commonalities of these challenges, the more comfortable they will be as they develop pathways forward. It is also important for these organizational leaders to have a clear understanding of what their downstream partners are facing. The more common that understanding, the more likely it is that the industry will contribute to more powerful solutions.” Levine has more than 25 years of hospital operations experience and has served as CEO of hospitals and health systems ranging from a small rural hospital to one of the largest public systems in America.

Courtesy of MedExecWomenLevine headshot.png

“We’ve been forced to simultaneously respond to the pandemic while continuing to lean into our goals. The pandemic cannot be an excuse to move backward. Instead, we’ve leaned in pretty heavily,” he stated in a news release. “The bottom line is, it is too easy to let headwinds brought by the pandemic become an excuse for poor performance, and I think institutions that do this will face major credibility challenges going forward.”

Added Bush of WVU Medicine Children's Hospital: “Throughout the COVID-19 pandemic, we have remained steadfast in our core strategies...to achieve superior system performance, to be an exceptional place to work and practice, to be a catalyst to better health, and to lower the cost of care. We continually look for ways to bring value to those we care for, this includes our partnership with industry and cutting-edge technology.” Bush leads hospital operations, clinical care, fundraising, and the construction of a brand-new hospital in the West Virginia Health System, WVU Medicine Children’s. She has led several areas, including surgical services, radiology, and the comprehensive stroke program accreditation through the development of the Telestroke and Teleneurology Network. She has also worked roles developing and overseeing the WVU Cancer Institute, WVU Heart, and Vascular Institute and the WVU Rockefeller Neuroscience Institute.

Emerging health technologies are offering solutions to provide such value. Said Bush: “The COVID pandemic accelerated our telehealth platform. West Virginia is a rural state and in many instances, the most effective way we can help our patients improve their health and well-being is through virtual appointments and home monitoring technology. Advanced technology will improve quality of life at a lower cost and truly create value.”

Courtesy of MedExecWomenBush Headshot.png

Added Levine: “We are heavily invested in a digital strategy intended to move us closer to our patients and other stakeholders,” said Levine. “The more C-suite executives can network and understand the commonalities of these challenges, the more comfortable they will be as they develop pathways forward,” said Levine.

The event will be held via Zoom. Event registration is $79 and can be accessed at: https://medexecwomen.org/events/spring-forum-2021. The meeting is sponsored by Boston Scientific, Johnson & Johnson, Medtronic, Boston Consulting Group, Bank of America, Latham & Watkins, Insulet, ZS Associates, Halloran, Medi-Vantage, and Kathleen Rowe Associates.

“This meeting will allow our female execs to work together virtually on building strategic direction for their companies,” said Maria Shepherd President, Medi-Vantage and a founder of MedExecWomen, in a news release. 

Part 2 of the Four Ps of MedTech will be held June 22. In that forum, financial analysts will discuss the key opportunities for the medical device industry that were developed in the March 30 forum.

MedExecWomen seeks to strengthen the field’s gender diversity through a connected, effective, and visible women’s leadership pool and supports female execs as they navigate rapidly changing markets. For more details, reach out to the organization via membership@MedExecWomen.org to request to join.

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