MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » How has COVID-19 changed healthcare’s appetite for buying medical devices

How has COVID-19 changed healthcare’s appetite for buying medical devices

By

This week’s DeviceTalks Weekly Podcast examines medtech’s readiness for the next COVID-19 surge.

Hospitals are ready, but their appetite for expensive medical devices has changed, forcing medtech companies to change how they sell or lose out entirely.

Justin Cassidy and Henry Soch of Vizient reveal why hospital executives are forced to divert funds away from new devices. They also explain how the power structure in capital purchases is shifting away from technology committees, creating a new challenge for medtech sales teams.

Kaila Krum, managing director of Truist Securities, explains how companies like Stryker, Zimmer Biomet and Globus are successfully putting units in hospitals. She confirms medtech companies are being forced to evolve the way they work with hospitals.

In the 2-minute-DeTalks, product development leader, podcast and president of Delve Inc., Dave Franchino explains how the company helps clients find the best solution to vexing problem.

Explorer Surgical CEO Jennifer Fried makes the case for how her innovative start-ups tech company’s will not only connect surgeons with remote sales reps but also giving a broader view of how successful teams function.

Chris Newmarker, executive editor of MassDevice, reveals his #NewmarkersNewsmakers highlighting contributions by Abbott, Stryker, Joe Biden, and EU-MDR.

In case you missed it

RSS From Medical Design & Outsourcing

  • Mass General researchers tout low-cost, portable brain imaging scanner
    Researchers at Massachusetts General Hospital are touting a low-cost, portable “head only” MRI scanner that could be used in multiple settings. As opposed to standard costly, immobile MRI scanners that require special infrastructure, the MGH researchers developed a low-cost, compact, portable and low-power scanner that could be mounted in an ambulance, wheeled into a patient’s… […]
  • HHS confirms involvement in presidential transition process
    U.S. Health and Human Services Dept. Secretary Alex Azar confirmed that HHS is working with president-elect Joe Biden on a presidential transition. Speaking during a press briefing, Azar said HHS is in contact with the transition team after the General Services Administration formally recognized Biden as the president-elect, having previously sidestepped questions regarding the potential… […]
  • Swiss scientists make ‘micromachines’ for self-deploying stents and more
    Researchers in Zurich reported today that they have invented a manufacturing technique to build “micromachines” out of metal and plastic in which these two materials are interlocked as closely as links in a chain. These robots are so tiny that they can maneuver through blood vessels and deliver medications to certain points in the body… […]
  • This AI algorithm could detect COVID-19 in chest X-rays
    Northwestern University researchers are touting a new AI platform that can detect COVID-19 in X-ray images of the lungs. DeepCOVID-XR, a machine-learning algorithm, performed better than a team of specialized thoracic radiologists by spotting COVID-19 in X-rays about 10 times faster and 1%-6% more accurately, according to a news release. Researchers involved think physicians could… […]
  • Aspen Surgical acquires Protek Medical Products
    Disposable products maker Aspen Surgical Products today announced the acquisition of Protek Medical Products (Coralville, Iowa). Protek manufactures single-use ultrasonic probe covers and needle guides used in tissue biopsies, fluid aspiration, and vascular access procedures as well as protective covers for medical instruments and equipment. The acquisition of Protek strengthens Aspen’s portfolio of medical, patient… […]
  • Puritan Medical lands $11.6M to boost swab production
    Puritan Medical Products (Guilford, Maine) has been awarded $11.6 million to expand its COVID-19 testing swab production by 3 million swabs per month, according to U.S. Sen. Susan Collins (R-Maine). The award was funded through the Paycheck Protection Program and Health Care Enhancement Act enacted in April. It will help fund modifications to Puritan’s newest… […]
  • PTI Engineered Plastics wins ‘best workplace’ award
    PTI Engineered Plastics has been awarded a Top Workplaces 2020 honor by The Detroit Free Press. The list is based solely on employee feedback gathered through a third-party survey administered by research partner Energage, according to the Macomb, Mich.-based company. An anonymous employee survey measured 15 drivers of engaged workplace cultures, including alignment, execution, and… […]
  • SyBridge enters medtech market with acquisition of X-Cell Tool & Mold
    SyBridge Technologies announced that it has completed the acquisition of X-Cell Tool & Mold, marking its first acquisition in the medical tooling industry. Fairview, Pa.-based X-Cell manufactures close-tolerance and multi-cavity plastic injection molds primarily for the medical industry. Its acquisition expands SyBridge’s tooling capabilities to include highly complex precision tooling solutions necessary for medical devices.… […]
  • Why making a lot of ventilators may not be enough to prevent COVID-19 deaths
    Medical device companies and even manufacturers outside the industry answered the call to make ventilators needed to treat people with severe COVID-19 cases. But as a newer and larger wave of the novel coronavirus hits the U.S., the equipment may not be enough, The New York Times reported yesterday. The problem, according to the Times,… […]
  • Demand, flexible financing fuel strong Mako sales for Stryker
    Stryker’s (NYSE:SYK) Mako surgical system remains a strong seller, even as hospitals grapple with pandemic-induced cuts to revenue. The orthopedics giant announced the placement of its 1,000th system in September. Those results stem not only from demand but also from financing options Stryker has extended to some hospitals, according to Spencer Stiles, group president of the… […]
  • MedTech Europe gives proposed European Health Union a partial nod
    MedTech Europe has endorsed a new plan to strengthen the EU’s response to future pandemics and public health emergencies, with a few caveats. European Commission President Ursula von der Leyen outlined the plan to create a European Health Union in her state of the union speech on Nov. 11. The plan is a response to… […]