Medical device product launch is accelerating, and it's not just incremental changes. Medical device trends and technologies for this coming year are following three themes:
The number of factors manufacturers must consider when launching a product continues to grow. Innovators must ask themselves: will this product be made obsolete by future technology? Does it truly progress medical care? How will users be trained?
Launching a new medical device is a much larger process than it used to be. The three areas below have seen significant change and are playing a major role in product launch development.
What the New Product Launch Process Looks Like for Medical Device
The impact of IT
We've recently discussed the impact of artificial intelligence and chatbots on new products and customer service, but information technology is also playing a large role in the latest products in medical device. Predictive data analytics, specifically, are being used to make the case for meaningful use.
Measuring meaningful use is crucial for medical facilities because of the need to prove that a quality management system optimizes patient care as well as company efficiency. The integration of predictive data analytics and IT systems could lead to better decision making and create supply chain opportunities in the medical device industry.
Documentation and training escalates as leadership recognizes stakeholder needs
Much of the innovation is spurred by startups, and in larger, more established medical device companies more attention is being given to the needs of a changing user base. While the quality manager still plays a role in the process, it's C-level, or C-suite employees that often have the final say. Employees in the C-suite have different concerns and perspectives on company decisions. Managers typically focus on the concerns of their teams, but the C-level typically focuses on overall costs and operations as critical benchmarks for organizational success. Several factors can play a part in the decision-making process for C-level employees:
- Whole-company impact of a project
- Project alignment with company strategy
- Project cost and success potential, including ROI
- Potential buyouts, mergers and expansions
- Viable investment funding
Successful launch goes beyond the product
Simply having a great product is no longer enough to make the launch a success. The role of the customer has changed along with their needs. Today's customers are better educated and more engaged with their own healthcare. Advances in technology, including artificial intelligence and telemedicine, require a product to be fully operational and supported before launching.
Product documentation and training programs are also evolving to keep up with new customer demands. Both are necessary to maintaining consistency in processes and establishing a cohesive understanding of procedures. Versatile documentation and training solutions that improve cross-team functionality and consistent communication promote higher performance, individually and companywide. Creating consistent documentation, such as Standard Operating Procedures, makes this easily achievable.
To ensure your product launch stays on track and answers all the important questions…