How Can Companies Minimize Layoffs By Cutting Costs With Medical Device Sales CRM Software?
Traditionally, medical device companies have focused on paper and pen, Excel spreadsheets and gut instinct, rather than adopting new technologies. Now, that?s changing, and companies are turning to tools such as medical device sales CRM software to improve internal processes and systems.
Recently, medical device company Zimmer Holdings announced that it will not saddle its distributors with the costs of the new medical device excise tax, according to an article on the MassDevice website. ?The company has spent several years streamlining its operations and looking for ways to cut costs in order to prepare for the tax,? the article explains.
On the one hand, it?s good that a very large medical device maker like Zimmer is not going to pass the cost on to its distributors, thereby doing its part to help reduce health care costs.
On the other hand, one of the ways they?re doing this is through a reduction in workforce. Last year, Zimmer announced significant outsourcing and layoffs, the MassDevice article reports, and was among the first to publicly blame its workforce cuts on the medical device excise tax.
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How Can Partnerships Spur On Medical Device Innovation Despite Federal Funding Cuts?
Regardless of what happens with the fiscal cliff, medical device companies that depend on government research grants should expect and prepare for the fact that funding from federal sources will continue to be harder to find.
Cuts to programs such as the National Institutes of Health could hampermedical device innovation, suggests an article on the Birmingham Business Journal website. The article examines what cuts could mean for biotech firms.
Federal research funding is crucial for ongoing technological innovation, says Raj Singh, CEO of Vivo Biosciences, a company that grows small organs for pharmaceutical testing.
“Those programs are critical for companies like us so we can take innovative ideas to the market and grow our business,” Singh tells the Birmingham Business Journal. Since Vivo started in 2004, the Birmingham, Ala., company has received $5.4 million in grants from the National Institutes of Health and NASA. According to Singh, losing such funding could halt research projects.
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