Medical Devices in Thoughts from the Centre
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By Glenn Snyder, principal, MedTech Practice leader, and Bill Murray, specialist executive, MedTech Practice, Deloitte Consulting LLP
This week’s blog is by Deloitte’s Medical Technology sector leader in the US, Glenn Snyder and his colleague, Bill Murray, and first appeared on the Deloitte US Health Forward Blog on 3 April 2020.
We are still in the early stages of the COVID-19 health emergency, but many medtech companies have already shifted their attention to addressing the immediate needs of the medical community. Some companies, for example, are ramping up production of ventilators, surgical masks, test kits, and other products that are in short supply. Some of them are collaborating with other medtech companies or organizations from outside the sector. Distilleries, cosmetics manufacturers, and even coffee roasters are pitching in to produce hand-sanitizers for first-responders.1,2,3
By Karen Taylor, Director, and Maria João Cruz, Research Analyst, Centre for Health Solutions
According to the World Health Organization (WHO), rapid testing of patients who meet the suspected case definition for COVID-19 is a priority for determining the clinical management and policy response to control the outbreak.1 Diagnostic testing for COVID-19 is critical to track the spread of this novel virus, understand its epidemiology, inform health managers of each case, and suppress transmission.2 Currently, different countries have implemented different testing strategies, depending on the availability of diagnostics kits and reagents, and on the capacity and capability of the healthcare system. However, there has been a global call to increase the speed and capacity for testing to help isolate cases and flatten the peak. This week’s blog explores the importance of testing, what tests can be done and which are already available.
By Krissie Ferris, Research Analyst, Centre for Health Solutions
As demonstrated in our recent report, ‘Realising digital-first primary care: Shaping the future of UK healthcare’, digital technology is transforming everyone’s relationship with healthcare. It is improving our access to health information and advice, helping us to connect more readily with healthcare professionals, and enabling us to track and manage our own health and wellbeing. However, to date, when it comes to women’s health, innovations have historically been underfunded and under supported. This is set to change with the rise of ‘FemTech’, an umbrella term for wearables, smartphone apps, diagnostics and other products designed to enhance women’s health and wellbeing. In recognition of last Sunday’s International Women’s Day, this week’s blog highlights why increasing investment in FemTech innovation is set to pay dividends!
By Dr Mark Steedman, PhD, Manager, Centre for Health Solutions
Each January, Deloitte produces a report exploring the outlook for the life sciences sector. This year’s report, 2020 global life sciences outlook: Creating new value, building blocks for the future, explores how biopharma and medtech organisations can harness a future driven by evolving data-driven technologies and remain relevant in an ever-evolving business landscape. Organisations should look for ways to create new value, adopt new metrics to take advantage of the wealth of data available today and rethink what is being measured.
By Glenn Snyder, Principal, MedTech Practice Leader, Deloitte Consulting LLP
This week’s blog, by Glenn Snyder from the US firm, first appeared on the US Center for Health Solutions blog site. It was published in advance of the AdvaMed annual conference in Boston, where he led a session on transformational innovation with a panel of CEOs from three medical technology companies. During the session, they examined how innovation is changing thanks to the value-based marketplace and the evolution of digitally-enabled devices. They also discussed how start-ups and companies from outside of the medtech space are driving rapid changes in the market in ways that leverage their strength rather than traditional medtech strengths.
By Nadeem Mohammed, Deloitte MCS Limited
Imagine the scene: it’s Friday night, eight senior executives at one of the world’s largest companies are sitting around a private dining table at a swanky city restaurant. They’re there to celebrate the closure of a transaction they’ve been toiling over for the past 12 months. You’re the Deal Lead, and you’ve just taken a congratulatory phone call from the Chief Executive – the Board are delighted with the acquisition, which will now be at the heart of the company’s growth strategy. You’ve given blood, sweat and tears on this – you raise a glass towards the table and take a quiet moment to reflect on what is surely a career defining moment.
2019 Human Capital Trends: Reinvent with a human focus – the implications for the Life Sciences industry
By Shivani Maitra, Partner, Consulting
This time of year is always a highlight for me as it sees the publication of our annual Global Human Capital Trends report, based on the views of 10,000 survey respondents across 119 countries. This year’s findings reinforce the views of colleagues in the Life Sciences (LS) team, specifically that LS organisations need to rethink the workforce experience, adapt to a more diverse workforce and transform their approach to leadership development.
FDA workshop on achieving medical device safety and cybersecurity: Why trustworthiness, transparency, and resilience are critical
By Steven Darroch, Senior Manager, and Nick Sikorski, Manager, Deloitte & Touche LLP
This week's blog, by Steven Darroch and Nick Sikorski from the US firm, first appeared on the US Center for Health Solutions blog site. The blog follows on from our report Medtech and the Internet of Medical Things: How connected medical devices are transforming health care and a public workshop held by the FDA, and explores the importance of medical device safety and how to mitigate operational, commercial and regulatory risks.
By Mark Steedman, PhD, Manager, Centre for Health Solutions
In March, Deloitte colleagues David Xie and Xiaofeng Li published the article Gain the edge in a fast moving market, introducing a series of articles on ‘Launching innovative biopharma in China’. This introductory article was the subject of a previous blog that we published in February.1 This week’s blog explores the findings in the next two articles in the series: A new view on market access and reimbursement, examining innovative alternative reimbursement opportunities in the public and self-pay markets; and A new view on China’s digital health care, evaluating how product launches can target digitally savvy consumers.
By Debi Rhodes, COO & Clients & Industries Lead, Life Sciences & Healthcare
Today, Friday 8th March marks the annual celebration of International Women’s Day with the theme, Balance for Better. I couldn’t help but question what this day really means to me? How is it important to my future, that of my children, to business and society as a whole, particularly when we consider the Future of Work and the impact of AI and new technologies on the skills and talent that will be needed in tomorrow’s world? Given my tendency for cynicism, I also questioned how the future might impact the issue of gender equality?