If you look at the new Medtronic web site…it is pretty interesting now that Medtronic and Covidien are coming together. “Medtronic has advanced it’s position to become the world’s premier technology and services” company.”
This is changing the landscape of how “technology companies” conduct business with integrated delivery networks. Starting next year, 30% of physicians pay will be tied to the quality of care they deliver seen through improving outcomes. If patients are re-admitted within 30 days of discharge with certain conditions, Medicare may penalize them. It seems that both these companies are embarking upon projects and managed services solutions to help healthcare systems improve operations to satisfy these requirements.
In the past many years there has not been a lot of concern about telemedicine in the United States, however that is shifting rapidly. Most recently we have witnessed several medical device companies have desired to develop solutions to ensure compliance; as well to gather all data upon discharge to form the complete “electronic medical record”. The EMR being defined as “inpatient”, at home, and/or anywhere.. So “wireless connectivity” , “the cloud”, “data analytics”, is taking off on several converged fronts in a rapid fashion. It only makes sense as other vertical markets have moved quickly to a IOT (Internet of Things), business model to gather information on a real time basis to improve their bottom line.
As said in the past, no new monitoring of physiological parameter in my opinion has come out in the recent years that has demonstrated great quality improvements or decrease in risk.
Companies need to understand it is not about the “widget”, but the overall solution that impacts cost, risk, and complete the full circle of care of the patient. In addition care now needs to extend outside the “four walls of the facility”…as well within every square inch of the facility tied to demonstrated metrics for the improvement of care.
It will be interesting to see how “traditional medical device companies”, now move to a culture of “medical solution companies” in 2015.
