Med tech: Inherently oriented to the three rules | 5
Med tech industry transformation | 7
Med tech leaders’ insights | 11
Conclusion | 19
RECENT changes in the US health care ecosystem are having a profound and transformational impact on the medical technology industry. The Affordable Care Act has catalyzed changes in how med tech customers define value and which stakeholders
are involved in decision making. While it has historically been a jewel of American manufacturing—one of the few domestic manufacturing industries that is a net exporter—med tech faces challenges to the legacy business models and strategic choices that these companies have used to excel in the past. More than ever, success requires a clear and consistent focus on delivering differentiated value and performance to customers.
The bar for demonstrating differentiated clinical and economic value is rising. The new “value bar” forces med tech companies to rethink how they can effectively create a product portfolio that will meet this ever-increasing set of expectations. It is no longer sufficient to demonstrate marginal product benefits for new product launches.