Today’s medical technology market is undergoing a reorientation: Current, globally reflected market developments such as consumerization, miniaturization and precision medicine through disruptive digitization and the establishment of Artificial Intelligence (AI) in the medical technology sector are exerting enormous pressure on established companies, as is the market entry of already highly digitized technology corporations such as Amazon, Apple or Alphabet. In order to withstand this movement, business models are needed that can continue to be successful in every regards in the future, and strategies that are not slowed down by digitization trends, but are rather fostered by these. That is why we offer your medical technology company up-to-date concepts in the areas of digital use case formulation, digital strategy, business model adaptation as well as digital transformation and digital defense.
By implementing our digital transformation approach, we also help your company to achieve sustainable market success – despite ever faster market development thanks to the Internet of Things, AI etc. We identify and formulate use cases in four phases and develop a viable digital strategy and find the operating model that is right for you:
In order to be able to develop practical use cases, our digital transformation approach examines the customer types and needs that are decisive for your company in the relevant indication areas (e.g. cardiovascular, oncology, CNS) for all the technologies that you intend to offer and sell successfully. This allows us to gain a comprehensive understanding of all segments with the highest demand potential via patients, providers and payers.
In the next phase, customized solutions for the concrete use cases will be formulated in a matrix along three use case categories (usually user, patient and payer) as well as three digital use levels, taking into account the course of patient data. This matrix is based on the connection of identified requests and solutions with the use cases in order to establish the basic concept for the path from the user group via the patient to the payer, to whom ultimately the benefit of a reimbursement model is to be shown on the basis of evidence by means of an offer including a business case.
In the course of defining a digital strategy tailored to your needs, we also develop your specific corporate vision as well as your strategic goals and principles. In addition, we take into account the fundamental prerequisites that you must meet or obtain in internal resources such as capacities, know-how and infrastructure to implement the digital strategy.
In the last step, an overall model is described that translates the digital strategy into its operational execution. In a roadmap, corresponding structures, roles, responsibilities as well as capacities are created and, depending on the use case prioritization, a corresponding budget is distributed. We also use an interaction model to ensure transparent communication with key stakeholders.
Homburg & Partner possesses relevant project experience in the global medical technology market to help companies achieve an optimal digital transformation using the digital transformation approach, and will be happy to help you outperform your competition to become a digital pioneer in the medical technology industry.
Do you have questions or would you like to discuss the topic? Then feel free to contact our experts Dr. Michael Scholl, Karl-Hubertus Gruber and Dr. Michael Marquardt.