It’s Time For The ‘Tech’ Part Of ‘MedTech’ To Truly Shine

Tech is everywhere. These days all kinds of products, services, and delivery models are all built on solid technological foundations – including healthcare.

However, from the outside looking in, it can seem that, while some sectors are racing ahead where digital transformation is concerned, the healthcare industry is perhaps a late bloomer.

But things are changing just as quickly now. The sector is truly embracing the rapid adoption of technology and the success of the SaaS model; and innovation is happening at an accelerated rate.

A distributed workforce is an efficient workforce

There was once a time that entering a new market required the build-out of an entirely new team from the ground up. A time when expanding beyond a headquartered location required long hours and extensive travel. With remote technologies, that’s no longer the expectation.

Over the past five years, and certainly during the pandemic, more and more organizations have recognized everything from sales meetings to consultations – and even system integrations – can take place from anywhere.

It’s clear to see that this has a major impact on the commercial model that many MedTech providers have relied on for so long. And while some may feel awkward about the shift toward a greater reliance on tech, the combined prospects of time and cost savings; not to mention happier, more engaged teams; is good news for all concerned.

3 groups who benefit from a modern commercial model

The ROI of an updated commercial model doesn’t end with speed-to-sale metrics or headcount to transaction ratios. Everybody wins:

  • MedTech providers can keep costs low as they scale, by building out strong regional teams that can cover more geography with fewer bodies in seats. This allows them to compete with the industry monoliths and bring better products to market faster for patients.
  • Healthcare facilities can see immediate gains in their software stack and overall operations, by being able to compare all available products head to head, and tap into long-term, high-touch support in an affordable way.
  • Most importantly, patients can increasingly access the procedures and products that will best support their health and wellbeing, without being restricted by physical distances or geographical barriers.

Organizations across categories have felt concerns about the complications of a distributed workforce and the efficacy of remote sales, but time and time again these hesitations have been tempered by positive results, satisfied teams, and revenue growth.

It’s time for the healthcare industry to show just how rooted in technology they are  – and to recognize that the new ways of working just might work for them, too.

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