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Posted on 02.05.2013
Eurasian Economic Integration – market opportunity or regulatory challenge for the MedTech industry?
Until recently economic and regional integration in the post-Soviet countries to a large extent was only declarative. However, the initiative of going beyond the Customs Union (CU) to create Common Economic Space (CES) between Russia, Belarus and Kazakhstan draws attention to potential market opportunities and at the same time regulatory challenges for the MedTech industry.
When we speak about healthcare in Europe, the word ‘sustainability’ is used often. From the outset of the economic crisis in 2008, policymakers, ministries of health, customers and payers all have focused on sustainable financial systems and sustainable healthcare systems – often as separate paths to achieve results. As budgets are shrinking, innovative ways to maintain current social and healthcare systems for the long term must be employed. At CleanMed Europe, a conference that brings environmental and healthcare issues together on the same agenda, I was pleased to see that a broader alternative discussion is emerging—one that marries financial and systemic sustainability in healthcare.
Centralised procurement of medical technologies is an increasingly prevalent phenomenon in the EU, and one that all stakeholders in this field, whether for or against it, have strong opinions on. Purchasers have embraced centralised procurement as a means to drive down costs. Suppliers fiercely oppose it as it would limit market opportunities and slow down adoption of innovations. Some experts believe that centralised procurement might actually have a negative effect on quality of care in the long run, as it focuses too much on short term cash savings.
Posted on 07.01.2012
Medical device manufacturers routinely design products that, even a few short years ago, were the stuff of science fiction. And let’s not even mention the amazing research underway today that will animate tomorrow’s medical products, from Tricorder-like devices performing on-the-spot diagnostics to 3-D printers producing replacement body parts. But there’s a problem: money. To succeed in today’s marketplace, medical device original equipment manufacturers (OEMs) must take into account funding and reimbursement pathways, the critical role that health technology assessment (HTA) can play, and other factors that may have little to nothing to do with how well or how safely a device performs its intended task.
Posted on 04.10.2011
Innovation delivers better quality at lower total cost in all walks of life. Many of the things that are freely available today and widely used were considered unaffordable luxuries for most in my youth. All this has happened because entrepreneurs and industrialists have constantly sought better ways of doing things and have changed the value equation.
Posted on 16.09.2011
My pulse is already racing at the prospect of this year’s MedTech Forum. The sequence of events following the 2008-2009 banking crisis has played out rather predictably with a broader economic crisis emerging in 2010 and only this year has the full force of public sector impacts been seen as the spending or money printing spree used to avoid deep recession has shifted to efforts to rebalance economies and pay back the debts that were created by ten years of fiscal laxity.
Posted on 06.09.2011
Europe is an important and continuously growing market for medical technology products. Driven by budgetary pressure on the payer and provider levels as well as by strong competitive dynamics, the commercial climate for established medical technology companies is, however, deteriorating. The recent industry survey MedTech Barometer 2011 conducted by us (and with ‘us’, I mean global strategy and marketing consultancy Simon-Kucher & Partners) confirms the presence of increasing commercial challenges but still provides an overall positive short-term business outlook. Yet the longer-term outlook is less positive and suggests that in order to remain successful in the European market place, established players will have to adapt their way of doing business in the future.
Posted on 30.05.2011
Korn/Ferry International and Eucomed are co-organising the upcoming “How to differentiate in a changing environment?” conference taking place on 5 July 2011 in Brussels. We have worked closely together to design an exciting programme that will give participants a broad view on the future from a health economic point of view, but the various sessions will also discuss what hospitals are looking for from medical device companies. In addition, we have invited accomplished speakers representing other industries’ perspectives and experiences. In short, this meeting is designed to allow the exchange of experience and ideas, and see what is done in other industries to help medical device companies enhance their competitiveness and remain healthy businesses.
To the MedTech industry: don’t stick to old-fashioned business models when talking about the value of your technologies
Medicine became evidence-based a long time ago and rightfully so. So why is it that policy decisions are, still today, far from evidence-based in Europe? Why are healthcare managers and decision makers still relying upon short-term cost containment objectives when it comes to access, regulation and evaluation of new technologies?