In recent years, as technology has become increasingly integral to patient care, innovation in the medtech space has grown at unprecedented levels. From streamlining long-standing manual processes to creating entirely new diagnostic devices, new technologies are emerging across the industry to have a real-world impact on patients’ quality of life.
These technologies are helping companies interact with patients faster and more efficiently, improve legacy equipment, integrate more software solutions into patient care, and even launch entirely new products. Additionally, these modern tools help medtech companies keep pace with the rapid pace of innovation by launching new products faster and expanding rapidly into new markets.
Simplify quality processes for better results
Especially in medical technology, quality is the name of the game. The speed with which a company can resolve post-IPO or field issues is critical to success. After all, if a product designed to improve patient care doesn’t work the way it’s supposed to, it can actually save lives.
The secret to fast post-market action is automating and integrating what was once manual, disparate case-to-complaint and reportability processes through the use of a single enterprise platform.
For example, suppose a company wants to reduce their problem resolution time. Their cases can be automatically associated with complaints and disseminate common data, enabling faster investigations, reportability determinations and electronic filings.
Additionally, their enterprise technology enables them to capture non-conformities in batch detail, allowing rapid triggering of ship lay-ups, disposals and on-site actions.
Many of these major innovations trickle down to corrective and preventive actions (CAPAs), engineering change orders (ECOs), and business processes.
Being able to close the quality loop across the entire corporate value chain not only revolutionizes necessary processes, but also delivers better patient experiences and outcomes.
improve traditional therapies
While headlines continue to circulate about new strains of Covid-19 and monkeypox, the most common chronic disease continues to grow at an alarming rate.
Technology is helping to manage the difficult symptoms of these diseases and find proactive ways to prevent them before they develop.
Advances in technology have restored independence to patients. Think how much easier everyday life would be for people with diabetes if they had treatment in their own home, rather than adjusting their itinerary to repeat hospital appointments. Not to mention reducing costs.
Imagine a world where treatments for type 2 diabetes (T2D) have the potential to prevent or even reverse its course. In the United States alone, approximately 30 million people are diagnosed with T2D, half of whom are unmanageable.
Harnessing Software as a Medical Device (SaMD)
Smart technology is almost inevitable these days. We use software devices in many areas of our lives—in our homes, in our cars, in our pockets. Our medical needs are no exception.
Software as a Medical Device (SaMD) is one of the fastest growing areas of medical technology innovation, delivering tangible life-saving outcomes through:
- Remote patient monitoring Faster and more accurate disease diagnosis and treatment decisions, such as stroke and lung problems
- Streamline care team workflow and coordination
- Digital Therapy and Digital Companions
…and the list grows exponentially. SaMD changes the way patients manage their health and interact with healthcare professionals.
Creating the Future of Nursing
The pace of innovation in medical technology is so rapid that we almost feel like we have stepped into the future. Some pioneering companies focused on eradicating certain cancers offer comprehensive genomic profiling (CGP), which can provide the results of a simple blood draw within days. This enables oncologists to obtain information faster and provide the right treatment recommendations for each cancer patient.
This is just one example of how patients at all stages of cancer are living longer and healthier with the power of blood tests and the data they unlock.
The secret sauce is the ability to connect all business processes on a single platform solution. Keeping pace with top innovators requires a modern system to manage integrated change processes and cross-functional collaboration throughout the product and software lifecycle.
Critical and complex products that patients rely on require accountability to ensure optimal availability, quality, results and uptime.
Photo: metamorworks, Getty Images