Finding value in intelligent medical products

These factors are forcing a convergence among all aspects of care – pharma with drug delivery and medication adherence programs, medtech with ever more complex software and data management, and everyone with artificial intelligence (AI) to name just a few. And if this wasn’t enough, consumerization, augmented and virtual reality, regulatory and cybersecurity compliance, and the connectedness of everything are having a huge impact on how we all expect to interact and engage with all aspects of healthcare.

All this has given rise to a new ecosystem model for medtech companies – intelligent medical products – which, in addition to performing their intended diagnostic or therapeutic device functions, involve a significant use of software to capture and use data for greater effectiveness and efficiency.

There is real opportunity for those medtech companies who embrace the business model changes required to thrive in this ecosystem – and real danger of being relegated to commoditized niche players for those that don’t.

Capgemini Engineerings’s latest whitepaper explores the challenges faced by medical device companies in driving lasting value as they seek to add intelligent medical products to their portfolios, and suggests four bold steps to help put them in a better position to provide greater value for their customers within a rapidly changing and converging healthcare ecosystem.