Many medical device manufacturers face an interesting dilemma. Their products are in great demand, but as they sell more products, they must add staff to maintain and service the devices in the field. So, increased revenues are often offset by increased costs.
Remotely monitored devices based on the Internet of Things (IoT) appear to be the solution. By embedding IoT into medical devices, manufacturers can remotely check the real-time status of the devices and maintain them in the field. Additionally, data collected from a fleet of installed products can be used to hone product designs. And the data also may be leveraged to offer innovative services.
These topics will be at the heart of an upcoming PTC webinar discussion that includes Dr. Joerg Traub, CEO, Forum MedTech Pharma; Rene Zoelfl, Business Development Director Life Sciences CER and Chairman of the PTC Healthcare Executive Advisory Council; and Salvatore Salamone, Editor-in-Chief, RTInsights.
During the interactive discussion, the group will explore how to:
- Use new technologies and services to overcome common remote device monitoring challenges
- Move from reactive to proactive and predictive device maintenance models
- Deliver enhanced customer service and support
- Transition to new value-added business models such as testing-as-a-service or analysis-as-a-service
RTInsights Salamone will set the stage for the discussion with a brief review of the market’s state, the long-known issues that have been brought to the fore, thanks to COVID-19, and the great market potential for the Internet of Medical Things (IoMT).
Dr. Joerg Traub will share what the impact of COVID-19 has had on MedTech Pharma’s member organizations. Limited travel and restrictions for on-site visits make it hard to service medical devices. He will note how medical device manufacturers that support remote monitoring avoid these problems.
PTC’s Zoelfl will review some of the industry trends driving the use of IoMT devices. Topics include the need to address regulatory issues over a medical device’s lifetime, the interest in delivering 4P medicine (i.e., medicine that is predictive, preventive, personalized and participatory), and how an aging and growing global population is expected to vastly increase healthcare spending worldwide.
The three speakers will then look at how remotely monitored medical devices enable product innovation, service optimization, and new business models and use cases. Join the discussion by registering here.