Frost & Sullivan will host an interactive briefing discussing business model innovation in a medtech market undergoing rapid transformation
SANTA CLARA, California, Sept. 28, 2018 /PRNewswire/ -- Frost & Sullivan, the growth partnership company, announced today that it will host a live, complimentary Growth Innovation Leadership (GIL) briefing titled, "New Commercialization and Revenue Strategies for Medical Technology Companies," on Tuesday, October 9, 2018, from 2:00 to 3:00 PM Eastern Time. The webinar will offer expert insight from Charlie Whelan, Transformational Health Vice President of Consulting at Frost & Sullivan.
For more information and to register for the webinar, please visit http://frost.ly/2qj.
In a market where products are increasingly commoditized and healthcare providers are being rewarded for outcomes, medical technology companies must realign their current and future business models to account for disruptive forces in the industry. Companies that have historically competed based on engineering skill and clinical evidence are finding new sources of innovation and value creation. Many medical device companies still struggle to unlock this value and find effective ways to partner with their healthcare customers. Firms that fail to capture this opportunity will fall further behind competitors who are creating revenue streams built on delivering outcomes supported by data-empowered services.
"The value you create as a medtech company needs to be aligned with the needs of your customers. In the past, those customers have been healthcare providers and the clinicians who work there. But payors themselves are taking a greater interest in technologies that can improve outcomes and reduce the cost burden. While they might now always dictate what devices a provider can use, they set the rules for how providers make money and are consequently important stakeholders that device companies cannot ignore," concluded Whelan.
The informative webinar will cover key insights:
- Understand how healthcare providers are changing and what the most successful medtech companies are doing to grow relationships;
- Explore what strategies work and do not work in the development of new business models for medtech companies;
- Identify sources of value that medical device companies can monetize and turn into a competitive advantage; and
- Learn tools to apply to your own company's unique situation that can help it develop a more robust commercial model.
The event will also be recorded and available for on-demand viewing at http://frost.ly/1ti.
About Frost & Sullivan
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