Medical device value: Here’s how you work it into your design

Public and private payers are increasingly demanding that health providers manage their patient populations more effectively and efficiently. That means that medtech companies can no longer merely rely on the strength of their technology to achieve reimbursement. They need to demonstrate “value,” too. “There’s a lot going on with the healthcare payment delivery systems to reform

How medtech can create value in connected care

A cost-conscious healthcare system is increasingly driving toward value, creating both a challenge and an opportunity for medtech. There is a big difference, though, between what is an intuitively good idea in a care setting and what will actually resonate with hospital systems. Influential designer Aidan Petrie, who was a recent presenter at DeviceTalks Minnesota, discusses the complexities of

How Magnolia Medical is battling sepsis false-positives for better value

Seattle-based Magnolia Medical Technologies – which says it makes a dramatic improvement to sepsis testing – provides a great example of the new value arguments dominating medtech. Sepsis happens to be a big deal. Hospital patients are often susceptible to sepsis, a bacterial infection that is the fifth leading cause of death. The standard of care

What does value mean in healthcare?

“Value” is a word that one hears a lot these days in the medical device industry and healthcare in general, but it’s hard to pin down what it exactly means. Defining what it means matters because public and private healthcare payers in the U.S. and around the world are moving away from traditional fee-for-service payments.

4 steps to deeper medical device design insights

When it comes to medical device design insights, Karten Design might have a helpful tool with its “Voice of the Ecosystem” approach. There are many changes to the healthcare system, Eunji Park, lead design strategist at Karten Design, explained during a webinar this week entitled, “Unpacking the Ecosystem of Healthcare Consumers.” Cost increases in the healthcare

AdvaMed unveils new tools to assess medical device value

AdvaMed today launched a new value initiative that includes extensive tables of questions to help medical device companies formulate value-based arguments. The value framework also includes tools specifically designed for diagnostic technologies – and reports on understanding evidence and use cases. “Value” has become an important word in medtech in recent years as government and private

Philips sees image-guided therapy transforming healthcare: Here’s how

Officials at medtech giant Royal Philips see image-guided therapy as key when it comes to health practitioners providing care that is both efficient and effective. The Dutch multinational’s work in the field provides a great example of how the ever-growing need for cost-effective healthcare around the world is driving the strategies of medical device companies.