Dr. Michael Keller

Dr. Michael Keller is a Senior Director at Simon-Kucher & Partners and joined the consultancy in 2008. Michael is a member of Simon-Kucher’s Global Medical Technology practice and is fully dedicated to serve MedTech and Diagnostic clients. He has been leading major commercial assignments in the medical device and diagnostic space. During national & international projects, he developed pricing & reimbursement strategies for innovative products, applied sales effectiveness measures and optimized our clients’ portfolio offering.

Looking at the Medtech industry and their IT solutions, it's obvious that many companies underestimate the power of their digital solutions. With a deteriorating commercial climate, it's more important than ever to fully capture the value of digital solutions and ensure they're properly monetized – either directly or indirectly. But how should companies go about this? Six fundamental mistakes companies make when implementing IT solutions From our work on numerous projects, we have identified six common mistakes companies make when offering an IT solution in addition to their core product. These missteps occur all across the industry but can be easily resolved with a simple resolution strategy. • Lack of strategy and vision: In our opinion, companies often don't have a clear direct or indirect monetization strategy. Most Health IT solutions are provided free of charge or added on top to improve the appeal of the offer and increase the odds of success. A clear strategy and vision on how to integrate Health IT solutions into the portfolio is often missing. • No dedicated commercial setup: A lack of focus and poorly defined ownership of tasks have resulted in Health IT solutions being used solely as a means to "sweeten the deal." • Limited experience in IT pricing: Health IT solutions and services require different revenue models than pure equipment sales (e.g. subscription models, SaaS, licensing fees). • Unused data potential: Customer information and data captured through Health IT solutions are often not considered for monetization purposes (companies lack the knowledge on what to do with this data). • Poor value communication: Far too often, companies haven't developed a dedicated approach to Health IT value communication. They need to highlight the economic and clinical benefits to relevant stakeholders. • No integration of governance: Limited integration of business targets and KPIs...