Quality Data Key To Today?s Medical Device Industry Trends.
Medtronic and other companies can begin making the case for investment by partnering with hospitals and running pilot projects to focus on areas that reduce health care costs. The goal is to produce quality data that proves their technologies can reduce overall patient costs.
A CRM solution can help companies like Medtronic by providing ways to monitor these pilot programs and hospitals.?Greater visibility through real-time analytics is the key to identifying areas where costs need to be reduced and where cost reduction has been achieved.?They then can use that data to put together more qualitative analytics and even a case study to prove the overall effectiveness.
?Once those pilots are successful, we intend to scale them across those systems and eventually do even broader market expansion,? Ishrak tells MassDevice.com. Going forward, Medtronic will assess economic value before spending money on products, he adds, a new approach that will require changing ?the mindset and the thinking and the culture in the company.?
Source:?MassDevice.com, January 2013