Value and Efficiency

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Picture this: You wake up one morning in an animal-skin tent surrounded by born warriors and the smell of horse dung. A brief survey of your environment leads to one conclusion and one conclusion only: You are in Essos, living amongst the Dothraki.  “Majin, finnaan kisha dothraki asshekh?” English: “So, where are we heading today, then?” Medical device sales representatives are like the nomadic, sea-fearing people in the Game of Thrones episodes: they face a changed landscape in a fundamentally different business model for the supply of medical devices: it’s all about value and efficiency. 

With major expansions of coverage taking effect under the Affordable Care Act (ACA), there is renewed interest in reforming the healthcare system in ways that better control costs and deliver higher value. With Obamacare we’ve changed the rules related to who pays for what, but we haven’t done much to change the prices we pay.There is heightened scrutiny of new medical technology, especially given its role in rising healthcare costs and the heretofore lack of requirement for value data. 

 

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Value is an acronym for:

1) validation and variability,
2) affordability and access,
3) long-term benefits and less side effects,
4) utility and usability and
5) effectiveness.

What healthcare providers want to see are data that accurately depict their work, that are adjusted for the things that matter to them (e.g., the kinds of patients they have), and that are actionable. Most data points for assessing quality are process metrics and not a measurement of outcomes, for which the time horizon is longer and far more variable. MedTechMentor provides strategic solutions for device suppliers that address customer value perspectives:

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