The scenario is common. A new medical technology is introduced that potentially improves care and practice economics, but also disrupts conventional care patterns. The question in these scenarios is, “How do we quantify the clinical and economic value and how do we communicate that to clinicians?”
DevicePharm has been recognized as a Foundational Member of Medical Alley, the Minnesota-based organization focused on growing one of the world’s most prolific centers of healthcare technology and delivery innovation.
In August of 2015, the Freudenberg Group announced the formation of Freudenberg Medical. The new entity combines the resources and expertise of minimally invasive medical device specialty component, product development, and manufacturing leaders Helix Medical and MedVenture Technology under the Freudenberg Medical umbrella. By combining these two teams with the global resources of Freudenberg, medical device and pharmaceutical companies will have access to an exceptional breadth of resources in a single source relationship supported by 40,000 associates in 60 nations. The company also has manufacturing facilities in five countries including the United States, Costa Rica, Germany, Ireland, and China.
The U.S. Government states that the Affordable Care Act has three main objectives. And while these are very nice, laudable, and simple goals, they are creating paradigm shifts in the marketing and selling of medical devices.
There has been no shortage of press these past few years covering the world of “Big Data” and its potential impact on the strategic decision making process. According to global technology solutions provider, CSC, the world’s data growth is expected to reach thirty-five zetabytes by 2020. To put that into perspective, one-thousand megabytes equals one gigabyte. One-trillion gigabytes equals one-zetabyte. That’s a lot of data. You needn’t be a statistician to figure that out. But what exactly is big data? And what type of impact can it have on medical device marketing?
On July 1st, 2014 we officially launched the Minneapolis / St. Paul office of DevicePharm. One of the first decisions we made after opening our doors was to participate in a sponsorship of LifeScience Alley. LifeScience Alley is a nonprofit trade association that supports Minnesota’s healthcare industry. The organization boasts more than 1400 members across the medical device, biotech and pharmaceutical industries. They primarily assist the local life science community with legislative issues, education and investment in the state.