Paraic Curtis (IMDA Chair Boston Sc).pdf - Irish Medical Devices ...
Paraic Curtis (IMDA Chair Boston Sc).pdf - Irish Medical Devices ...
Paraic Curtis (IMDA Chair Boston Sc).pdf - Irish Medical Devices ...
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<strong>Paraic</strong> <strong>Curtis</strong><br />
<strong>IMDA</strong> <strong>Chair</strong>man<br />
(<strong>Boston</strong> <strong>Sc</strong>ientific)
Med Tech – The way Forward for Ireland<br />
Radisson Hotel Galway<br />
<strong>Chair</strong>man: Mr <strong>Paraic</strong> <strong>Curtis</strong> (<strong>Boston</strong> <strong>Sc</strong>ientific)
250<br />
Medtech<br />
companies<br />
in Ireland<br />
50%<br />
indigenous<br />
<strong>Irish</strong><br />
Medtech<br />
firms<br />
Med Tech<br />
Industry<br />
in<br />
Ireland<br />
€7.3b<br />
annual<br />
<strong>Irish</strong><br />
Medtech<br />
exports<br />
Direct<br />
expend. in<br />
<strong>Irish</strong><br />
economy<br />
€1.8bn<br />
p.a.<br />
25,000<br />
people<br />
employed<br />
in the<br />
industry
diagnostic<br />
hospital and/or homecare<br />
products<br />
ophthalmic<br />
orthopaedic<br />
vascular<br />
contract research,<br />
development,<br />
connected health<br />
service
Executive Summary – Customer Perspective<br />
<br />
<br />
<br />
<br />
<br />
<br />
Industry is under great financial pressure around the world and<br />
customers do not expect it to abate<br />
Financial pressure and improved clinician alignment is expanding the<br />
influence and competency of supply chain function<br />
Financial pressure and uncertainty ushering in a period of industry<br />
experimentation and the emergence of new business models<br />
Customer vision of a successful device company of the future will have<br />
a proposition that extends beyond the device<br />
Customer consolidation progressing globally and leading to larger, more<br />
aligned customers<br />
Customers expressing a desire for a more streamlined relationship with<br />
companies where there is greater alignment of objectives, better<br />
collaboration and a relentless focus on continuous cost reduction
1<br />
Financial Pressure<br />
Drastic austerity measures seeking to reduce budgets<br />
for healthcare – “do more with less”<br />
Significantly reduced payments and new penalties linked to<br />
quality measures via Healthcare Reform Act<br />
Fiscal crisis forcing dramatic cuts to regional healthcare<br />
budgets<br />
Challenge of extending care to underserved population<br />
Supply Chain VP, Non-Profit IDN (US)
2<br />
Evolution of Supply Chain – The Customer<br />
SOPHISTICATION<br />
“Out of the basement,<br />
into the executive<br />
suite”<br />
Elevating skill levels of<br />
Supply Chain leaders<br />
Attracting talent outside<br />
the hospital<br />
COLLABORATION<br />
Shift toward targeted<br />
supplier segmentation<br />
& collaboration<br />
Greater effectiveness<br />
of cross-functional<br />
teams
3<br />
New Models Emerging<br />
Provider Consolidation<br />
Provider Alliances<br />
Verticalization (Payer + Provider)<br />
Provider Direct to Employer Contracting<br />
Payer Direct to Manufacturer Contracting<br />
Payer + Provider + Clinician Alignment<br />
Definition<br />
Of the<br />
Customer<br />
Changing
4<br />
Commoditization of Device Market<br />
See as natural maturation of markets and technology<br />
Expectation of lower prices and less product<br />
differentiation in the future<br />
Challenging premium priced iterative pipeline model vs.<br />
truly revolutionary product offerings
5<br />
Shift from Volume to Value<br />
Healthcare models that have historically rewarded<br />
procedural volume shifting toward greater focus on<br />
outcomes<br />
Anticipate increased control over procedural volume due to<br />
budget constraints<br />
Heightened focus on appropriate technology use and<br />
“value”
Successful <strong>Medical</strong> Device Company of the Future<br />
has Three Components<br />
CULTURE<br />
SALES<br />
MODEL<br />
VALUE<br />
OFFERING
So……does any of this impact me ?<br />
Who is my customer ?<br />
Does the customer want my product ?<br />
Can the customer pay for my product ?<br />
What is my value proposition beyond device implantation ?<br />
Do I have the right skills ?
<strong>IMDA</strong> - Strategy 2012 to 2015
<strong>IMDA</strong> - Strategy 2012 to 2015
Strategy Implementation/ Board Taskforces<br />
Ecosystem<br />
• Public Image<br />
• Code of Ethical<br />
Business Practice<br />
• Academic Forum<br />
Entrepreneurship<br />
• Entrepreneurs Audit<br />
Industry<br />
Foresight<br />
• Industry Foresight<br />
• Skills impact<br />
Member Services<br />
• Representation<br />
• Education & Training<br />
• Network<br />
• Information
Strategy Implementation<br />
Ecosystem<br />
Entrepreneurship<br />
• Industry profile<br />
• Increased Innovation, R&D<br />
• Increased stakeholder<br />
collaboration<br />
• Talent<br />
• Clinician, University<br />
outputs<br />
• Knowledge gaps<br />
• Mentoring access<br />
• Curriculum influence<br />
Industry Foresight<br />
Member Services<br />
• Provision of expertise<br />
• Strategy choices<br />
• Industry networks<br />
• Skills & education<br />
• Representation<br />
• Education & Training<br />
• Network Development<br />
• Information
Q&A Session
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