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4 Tips for Competitive Digital Healthcare Innovations

All of this requires that an organization has forward-thinking executive leadership, sound strategy, a robust product development discipline, and functional experts. With a solid structure in place, businesses are able to move from strength to strength with resolve — not wasting time on pointless distractions. It begins with understanding the various strategies that teams employ at each of the stages. Next you want to identify what stage your product is at — this might seem simple but there is often overlap in the middle stages. For example, you would not want to invest significantly in a product that is at the end of the decline stage as a last hope.

  1. Investigating studies on the engineering calculation method of life cycle, Dondelinger (2004) stated that a replacement plan for medical devices should be established based on technical and economic feasibility (17).
  2. Take as an example the coordination required to migrate a complex product from technology A to technology B (e.g., BLE to Wi-Fi) without significant regulatory impact or any product demand shortages.
  3. Specifically investigating, cases in which the standards of the AHA standard had a shorter life cycle than that of the Korean PPS appeared to include 663 units (76%).
  4. This will permit the product’s distribution immediately upon approval, to reach the patient sooner, optimise its patent protection period and potential roll out to additional countries.
  5. We captured the country, stakeholder group, and familiarity of interviewees but did not differentiate results according to other interviewee characteristics.

A shorter product development process helps to keep pace with the growing technology. Understanding time-to-market helps to create a smooth development experience for the entire team. Examples of efforts to increase familiarity among stakeholders are accumulating, e.g., webinars by the FDA and congresses about health preference research [43, 44]. This study also points towards a critical need for a framework to measure PP more structurally.

Life cycle in medical devices

Furthermore, collaborations create new opportunities and help companies launch their products in a diverse market. According to the Harvard Business Review, 94 percent of tech executives see innovation partnerships as a necessity for product growth. To avoid this, companies can try to increase their market share through innovative features and offers. If the product isn’t giving good returns, then it’s time for manufacturers to remove the product from the market before they start losing money. In this pricing tactic, companies usually charge a very high rate to consumers who are willing to purchase that product.

Based on their experience, the National Institute for Health and Care Excellence recommends that companies seek their advice on PP study designs to allow for the PP study results to be used in clinical development programs for new treatments. Such advice may be both valuable from the company’s perspective to ensure that PP study results will be useful for decision makers as well as from the decision makers’ perspective to ensure that potential methodological issues are addressed prior to conducting the PP study. There were diverging views regarding what specifically is needed to integrate PP into decision making. The benefits will be all the greater if the innovator teams up with a logistics partner who can support them throughout the product’s entire life cycle. Having transported it in the clinical phase, such a logistics partner will already be familiar with the product and its logistical requirements. And having been closely involved from such an early phase, they will also be ready to ship to markets as soon as the requisite approvals are obtained.

We captured the country, stakeholder group, and familiarity of interviewees but did not differentiate results according to other interviewee characteristics. For example, their opinions may also be shaped by the type of preference method they were most familiar with. We are proud to be a trusted partner for the world’s top brands, offering comprehensive engineering, manufacturing, and supply chain solutions. With over 50 years of experience across industries and a vast network of over 100 sites worldwide, Jabil combines global reach with local expertise to deliver both scalable and customized solutions.

Medical device replacement evaluation criteria

Twelve persons (55%) accepted; the others did not answer, did not consider themselves knowledgeable enough, or did not have time. Recruitment was slowest in Romania and Italy and in the HTA and regulatory stakeholder group.5 No relationship between interviewers and interviewees was established prior to invitation. Many services involve life and death issues such as food safety, transportation (particularly airline) safety and law enforcement. This paper will discuss some of the ways medical care can be considered a product that can be looked at in ways that industry has considered traditional for many years. Hopefully by looking at existing information through this “lifecycle lens” a different perspective can be obtained that will help to bring greater understanding to this confusing issue and ultimately initiate and propel changes that will improve the healthcare system. Effective product lifecycle process competitiveness analysis delivers significant savings in materials, accelerated time to market, freed up working capital and increased gross margins.

According to the Joint Commission (TJC), which approves medical institutions and programs in the United States, high-risk medical devices include life-support systems, and their failure could cause serious injuries or death to patients or related personnel. High-risk medical devices defined by TJC include heart-lung machines, ventilators, defibrillators, and robotic assistive devices (15, 16). All facilities with high-risk medical devices must implement the activities necessary for their maintenance, inspection, and testing of medical devices in accordance with the manufacturer’s recommendations. According to the alternative equipment maintenance (AEM) program of medical devices, planned maintenance activities for high-risk medical devices must be 100% complete.

Moreover, the product life cycle helps to establish a brand image and attract the target audience. Not only this, the product life cycle determines whether to introduce or discontinue the product in the market. As Leavitt shared product life cycle in healthcare in 1965, knowing and preparing for the various stages of PLC is the ideal way to avoid the pitfalls that await you. However, the return on advertising efforts often begins to diminish and sales (while steady) may soften.

Medicine shortages: Product life cycle phases and characteristics of medicines in short supply—A register study

Of these, physical life is the longest, economic life is at the middle level, and commonplace life is the shortest. Healthcare administrators understand the changing current environment and work to ensure their health systems have long-term clinical asset management plans in place. For example, exploring upgrade options in radiology as a key strategic component across the product lifecycle of their imaging fleet represents an innovative opportunity to access the latest clinical imaging capabilities, while prolonging the utility of existing systems.

To date, Kuehne+Nagel has diligently shipped over 1.2 billion vaccine doses to 90 countries all over the globe. As a leader in the healthcare industry, GE HealthCare partners with hospitals and integrated delivery networks to provide planning, management, and service for medical technology assets. One effective strategy to address these needs is to work with a partner who understands the hospital’s current position and future goals.

Common reasons for this failure are competitors and the inability to meet market needs. Product innovation improves product life cycles and gives businesses a competitive edge in the market. More efficient product development ways are introduced which lowers the costs even further.

As such, it is necessary to manage the performance and safety of the device through clear regulations on the life cycle of medical devices; however, the calculation methods of life cycles are different for each country and medical institution, and related research is lacking. Therefore, in this study, we compare and analyze domestic and foreign systems and regulations regarding the replacement time, centered on high-risk medical devices that urgently need management by priority, and then suggest calculation methods for life cycles to determine replacement times. Baseline data to manage the life cycle of high-risk medical devices should be provided, resulting in the establishment of a medical system that can provide medical practices that ensure patient safety. There are two evaluation methods for preparing and utilizing a score table for the degree of deterioration and making decisions through a committee. In order to overcome these limitations, it will be necessary to reorganize the management system through the role allocation of the government and medical institutions.

HTA was used to act when decisions on reimbursement were required and thus was called the fourth hurdle or the fourth guarantee (safety, efficacy, effectiveness, and efficiency). However, having in mind its definition and privileged position, HTA activities have evolved to more constructive approaches from health technology inception to its obsolescence (Henshall et al., 2011). New concepts such as scientific advice (Jost et al., 2015), early dialogue, early awareness, and alert systems (Packer et al., 2012), post-introduction observation of health technologies (Varela-Lema et al., 2012), appropriateness, re-assessment, and disinvestment (Elshaug et al., 2007) have gained ground. Interviewees from all stakeholder groups, particularly regulators, underlined that the value of PP in decision making depends on factors such as the type of medical product and disease area (Fig. 1). Furthermore, some academics and regulators stated that PP studies only need to be conducted when they are relevant for decision making. Interviewees reported being unfamiliar (43%), moderately familiar (42%), or very familiar (15%) with preference methods and studies (Table 3).

Quality Risk Management (QRM) Workshop Training Course

Product life cycle refers to all development, regulatory and optimization procedures during the lifespan of a medicine (Bauer and Fischer 2000; Langedijk et al., 2016; Stevens et al., 2020; Bere 2022). Critical aspects in terms of availability of medicines and medicine shortages exist in each phase. However, the impacts of product life cycle on the availability of medicines and medicine shortages have not been studied in depth or published in scientific journals. In particular, in an environment where life cycle management is not conducted to replace medical devices, there is a limit to replacing medical devices using objective evaluation methods (28). Medicines, medical devices, and healthcare software whose product life cycles change are likely to face shortages.