3 steps to create value with your medical device

May 1, 2017 By Chris Newmarker

[Image courtesy of IHI]

1. Keep the ‘Triple Aim’ in mind

Coined by the Institute for Healthcare Improvement, the Triple Aim is the industry’s new lens in an approach to deliver healthcare that improves the patient’s experience, lowers cost and increases population health. New medical devices should be developed with these measures of value in mind. It’s also important to consider how each of these measures is perceived by all the device stakeholders (provider, practitioner, payer and patient). Ideally, a compelling value proposition can be delivered to each stakeholder group.

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Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at cnewmarker@wtwhmedia.com.