• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Opinions
    • Top 30
    • Research
    • Supply Chain
    • Device Sectors
    • Directory
    • Events
    • Resources
    • Microsites
    • More
  • Magazine
  • News
  • Opinions
  • Top 30
  • Research
  • Supply Chain
  • Device Sectors
  • Directory
  • Events
  • Resources
  • Microsites
  • Current / Back Issues
    Features
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Reprints
    Subscribe Now
    Advertise Now
    Top Features
    Parylene Coatings for Medical Device Technologies

    The Big Shift: Nearshoring Trends in Medtech Manufacturing

    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development
    OEM News
    Supplier News
    Service / Press Releases
    Online Exclusives
    Press Releases
    People in the News
    Product & Service Releases
    Supplier News
    Medtech Makers
    Technical Features
    International News
    Videos
    Product & Service Releases
    Live From Shows
    Regulatory
    Financial/Business
    Top News
    EchoNous Partners with Samsung

    Solid Growth Forecast for Global Ostomy Devices Market

    KA Imaging's Reveal 35C Images Increase Lung Lesion Visibility

    Respira Technologies Appoints Brian Quigley as CEO

    Nikki Troiano Gainey Joins RIVANNA Board
    From the Editor
    Blogs
    Guest Opinions
    Top Opinions
    Parylene Coatings for Medical Device Technologies

    The Big Shift: Nearshoring Trends in Medtech Manufacturing

    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development
    Top 30 Medical Device Companies
    Market Data
    White Papers
    Top Research
    Cooling and Melting the Pain Away

    What Are the Fundamentals of Go-To-Market Strategy in Medical Devices?

    Minding the Gap: How Harmonizing Quality Systems Pays Off

    Building Strong Partnerships Between Medtech and Surgeon-Learning Platforms

    Four Key Considerations for OEMs Transferring a Product Program
    3D/Additive Manufacturing
    Contract Manufacturing
    Electronics
    Machining & Laser Processing
    Materials
    Molding
    Packaging & Sterilization
    R&D & Design
    Software & IT
    Testing
    Tubing & Extrusion
    Cardiovascular
    Diagnostics
    Digital Health
    Neurological
    Patient Monitoring
    Surgical
    Orthopedics
    All Companies
    Categories
    Company Capabilities
    Add New Company
    Outsourcing Directory
    Fusion Biotec Inc.

    JBC Technologies

    Arthur G. Russell Co. Inc., The

    Concise Engineering

    Cirtec Medical
    MPO Summit
    Industry Events
    Webinars
    Live From Show Event
    Industry Associations
    Videos
    Career Central
    eBook
    Slideshows
    Top Resources
    Buyer and Seller Tips on Mergers & Acquisitions for MPO Companies

    Medical Computing: COM Express Processes Real-Time Data at the Edge

    The Importance of Building Successful Supplier Relationships

    The Benefits of Outsourcing Innovation in Medtech Manufacturing

    Patching Healthcare Cybersecurity Risks in the Internet of Medical Things
    Companies
    News Releases
    Product Releases
    Press Releases
    Product Spec Sheets
    Service Releases
    Case Studies
    White Papers
    Brochures
    Videos
    Outsourcing Directory
    Fusion Biotec Inc.

    JBC Technologies

    Arthur G. Russell Co. Inc., The

    Concise Engineering

    Cirtec Medical
    • Magazine
      • Current/Back Issues
      • Features
      • Editorial
      • Columns
      • Digital Editions
      • Subscribe Now
      • Advertise Now
    • News
    • Directory
      • All Companies
      • ALL CATEGORIES
      • Industry Associations
      • Company Capabilities
      • Add Your Company
    • Supply Chain
      • 3D/Additive Manufacturing
      • Contract Manufacturing
      • Electronics
      • Machining & Laser Processing
      • Materials
      • Molding
      • Packaging & Sterilization
      • R&D & Design
      • Software & IT
      • Testing
      • Tubing & Extrusion
    • Device Sectors
      • Cardiovascular
      • Diagnostics
      • Digital Health
      • Neurological
      • Patient Monitoring
      • Surgical
      • Orthopedics
    • Top 30 Company Report
    • Expert Insights
    • Slideshows
    • Videos
    • eBook
    • Resources
    • Podcasts
    • Infographics
    • Whitepapers
    • Research
      • White Papers
      • Case Studies
      • Product Spec Sheets
      • Market Data
    • MPO Summit
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Microsite
      • Companies
      • Product Releases
      • Product Spec Sheets
      • Services
      • White Papers / Tech Papers
      • Press Releases
      • Videos
      • Literature / Brochures
      • Case Studies
    • About Us
      • About Us
      • Contact Us
      • Advertise with Us
      • eNewsletter Archive
      • Privacy Policy
      • Terms of Use
    Editorial

    Success Factors

    ...

    Related CONTENT
    • Hyperfine Names Paykel, Teisseyre to Executive Leadership Roles
    • Accu-Tube Appoints Matthew Haddle as CEO
    • Heraeus Acquires Mo-Sci Corporation, ETS Technology Holdings
    • CE Mark Granted to Predictive Software for Kidney Allograft Survival
    • Electroducer Raises 3 Million Euros to Market Heart Valve Disease Tech
    Christopher Delporte, Editorial Director07.29.15
    How is success measured? How’s that for a broad topic for discussion? Let’s narrow it down a bit. How is success in business evaluated? A little more focused, but still a wide-open question. Is it by profit? That’s certainly one easy measurement. Perhaps it is by customer satisfaction—very important. Maybe it’s by employee satisfaction (three cheers to the forward-thinking firm that charts success by this). In today’s social-media obsessed world, success could be how many “likes” something you’ve posted to Facebook receives or the number of Twitter followers you have. Is it the page views, page visits or click-through rates your website gets? Lots of people hang their hats on the strength of those metrics to be sure.

    No matter what the combination of factors, success is fleeting in a fast-paced world. Heaven forfend your online numbers dip, for example (not as successful today as you were last month?). The winning formula—if there is such a thing—is an amalgam of variables, and most of them are out of our direct control. What we can control, however, is how hard and how smart we work.
    The July/August issue is our annual Top Company report, in which we examine 30 of the world’s largest medtech firms. Just as in years past, we categorize the list based on reported financial data. While that gives us a starting point for a discussion, it’s only a small part of what makes these companies—and the medical device industry as a whole—tick. Accomplishment, of course, doesn’t just come from billion-dollar revenue streams. If the U.S. Food and Drug Administration just approved a startup’s first device that also happens to have a solid reimbursement pathway, the executive team of the small firm is feeling pretty well-off—though there hasn’t yet been a single sale. Money is a byproduct of success.

    In compiling all of the data required to create this year’s Top Company installment, I continued to think about the topic of success, the factors that drive it in today’s medtech marketplace, and what its recipe really is. Increasingly, companies with the resources and foresight are going beyond the outmoded model of claiming market share with one type of technology and its clinical benefit alone. Today, the winning mixture is technology that moves past improved clinical outcomes at one point along the value chain, but also helps healthcare systems manage costs, keeps patients from returning to the hospital with complications, can track a patient’s progress remotely and ultimately saves the entire system time and money in the long term. Savvy companies know that doctors aren’t the sole purchasing decision-makers they once were. Hospital chains are making more centralized procurement decisions.
    As such, there is pressure on medical device companies not only to establish clinical efficacy, but also to combine it with improved economics.

    According to a recent blog post by Sharon Fong, a brand strategist with Level Brand, a Minneapolis, Minn.-based healthcare-focused advertising, marketing and communications firm that works with companies such as 3M, Beckman Coulter Inc. and Medtronic plc, medical device companies need to change their game because there’s no longer a “cookie-cutter formula” for success.

    “Every aspect of the healthcare industry has to rethink their way of doing business. And, because healthcare today is so fluid, most healthcare and related industries are still figuring it out, including the medical device marketing community,” Fong wrote. “Technical and clinical features of the device alone will not drive sales. Instead, hospital administrators, clinicians and payers will all be part of the equation in the selection and purchase of products that combine devices and services built around delivering solutions for everyone—patient, provider and payer.”

    She writes that successful companies are the ones that understand and anticipate the continuous changes and trends in healthcare; know the competition; are category leaders with depth in the largest categories in which they operate, versus breadth across multiple categories without clear leadership positions in any; understand the individual motives for purchasing; and develop flexible marketing and sales models that solve for the different ways physicians and procurement officers approach purchasing decisions in different geographic locations.

    To give medical device companies (the Top 30 and beyond) and their supplier partners the tools to meet this mandate, Medical
    Product Outsourcing
    is returning to Utah for the MPO Summit (www.mposummit.com), held Sept. 29-30 at the Stein Eriksen Lodge in Park City. At the heart of the education and networking event are sessions designed to: address the changing healthcare landscape and how it is reshaping medtech innovation pathways; provide resources and skills for developing market-leading technologies; and demonstrate the best manufacturing, R&D, regulatory and business strategies to help firms compete and—yes, you guessed it—succeed. 

    Christopher Delporte
    Editorial Director
    Related Searches
    • mpo summit
    • medical device companies
    • product outsourcing
    • Outsourcing
    Related Knowledge Center
    • R&D & Design
    • Contract Manufacturing
    Suggested For You
    Hyperfine Names Paykel, Teisseyre to Executive Leadership Roles Hyperfine Names Paykel, Teisseyre to Executive Leadership Roles
    Accu-Tube Appoints Matthew Haddle as CEO Accu-Tube Appoints Matthew Haddle as CEO
    Heraeus Acquires Mo-Sci Corporation, ETS Technology Holdings Heraeus Acquires Mo-Sci Corporation, ETS Technology Holdings
    CE Mark Granted to Predictive Software for Kidney Allograft Survival CE Mark Granted to Predictive Software for Kidney Allograft Survival
    Electroducer Raises 3 Million Euros to Market Heart Valve Disease Tech Electroducer Raises 3 Million Euros to Market Heart Valve Disease Tech
    Precision Coating Merges with N2 Biomedical Precision Coating Merges with N2 Biomedical
    Medical Devices Market to Top $671.49 Billion by 2027 Medical Devices Market to Top $671.49 Billion by 2027
    Indago Announces $10 Million Financing Close and Name Change Indago Announces $10 Million Financing Close and Name Change
    Molli Surgical Molli Surgical's Breast Tumor Marker
    Vertigo Treatment Receives FDA Breakthrough Device Designation Vertigo Treatment Receives FDA Breakthrough Device Designation
    RapidPulse Closes $15 Million Series A Financing RapidPulse Closes $15 Million Series A Financing
    Midwest Products & Engineering Acquires MindFlow Design Midwest Products & Engineering Acquires MindFlow Design
    Vicarious Surgical Opens New Corporate Headquarters in Massachusetts Vicarious Surgical Opens New Corporate Headquarters in Massachusetts
    Luis J. Malavé Joins Integrity Applications Board Luis J. Malavé Joins Integrity Applications Board
    Stryker Buys Gauss Surgical Stryker Buys Gauss Surgical

    Related Breaking News

    • Hyperfine Names Paykel, Teisseyre to Executive Leadership Roles

      Hyperfine Names Paykel, Teisseyre to Executive Leadership Roles

      Neela Paykel is serving as general counsel and Tom Teisseyre assumes the chief product officer position.
      Business Wire 09.22.21

    • Tubing & Extrusion
      Accu-Tube Appoints Matthew Haddle as CEO

      Accu-Tube Appoints Matthew Haddle as CEO

      Haddle has a track record of leading organizations through strategic expansions across the medical device, aerospace, and industrial sectors.
      Accu-Tube 09.22.21

    • Heraeus Acquires Mo-Sci Corporation, ETS Technology Holdings

      Heraeus Acquires Mo-Sci Corporation, ETS Technology Holdings

      The two deals will strengthen Heraeus' healthcare and medtech portfolio.
      Heraeus 09.22.21


    • CE Mark Granted to Predictive Software for Kidney Allograft Survival

      CE Mark Granted to Predictive Software for Kidney Allograft Survival

      Algorithm gives the probability the graft will still be functional at three, five, and seven years after evaluation by a healthcare professional.
      Cibiltech 09.21.21

    • Electroducer Raises 3 Million Euros to Market Heart Valve Disease Tech

      Electroducer Raises 3 Million Euros to Market Heart Valve Disease Tech

      Electroducer Sleeve based on a medical technique called Direct Wire Pacing, which was invented by the company’s founder.
      Electroducer 09.21.21

    Loading, Please Wait..

    Trending
    • Monkeypox Outbreak Driving New IVD Device Development
    • M1 MedTech Announces Fall 2022 Cohort
    • Preceptis Medical’s Tympanostomy Tube System Cleared For Expanded Indications
    • Pulsed Field Ablation Tech Gaining Popularity
    • Edwards' PASCAL Precision Gains EU Nod
    Breaking News
    • EchoNous Partners with Samsung
    • Solid Growth Forecast for Global Ostomy Devices Market
    • KA Imaging's Reveal 35C Images Increase Lung Lesion Visibility
    • Respira Technologies Appoints Brian Quigley as CEO
    • Nikki Troiano Gainey Joins RIVANNA Board
    View Breaking News >
    CURRENT ISSUE

    July/August 2022

    • Parylene Coatings for Medical Device Technologies
    • Nearshoring Trends in Medtech Manufacturing
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    IFIC 2022 Food & Health Survey Highlights Eating Behavior Trends
    Icon Foods Appoints Operations and Marketing Leaders
    Annatto Tocotrienol Shown to Improve Weight Loss and Inflammation Markers in Patients with NAFLD
    Coatings World

    Latest Breaking News From Coatings World

    Birla Carbon, NREL Collaboration to be Presented at ACS Conference
    Coating Resins Market Worth $70.9 Billion by 2027: MarketsandMarkets
    PPG Appoints Brad Budde Vice President and Chief Digital Officer
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    EchoNous Partners with Samsung
    Solid Growth Forecast for Global Ostomy Devices Market
    KA Imaging's Reveal 35C Images Increase Lung Lesion Visibility
    Contract Pharma

    Latest Breaking News From Contract Pharma

    GRAM to Fill and Finish Smallpox/Monkeypox Vaccines
    bluebird bio Wins FDA Approval of ZYNTEGLO
    Pace Life Sciences Acquires Meridian BioGroup
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Sephora at Kohl’s to Expand Sephora Presence to All 1,100+ Kohl’s Locations
    Emma Watson to Front New Fragrance Campaign for Prada
    The Estée Lauder Companies Delivers Strong Results in Fiscal 2022
    Happi

    Latest Breaking News From Happi

    Amorepacific, MIT Develop World's First Chip-less Wireless Electronic Skin Enabled by Semiconductors
    Maesa Launches Itk Skincare with TikTok Stars Brooklyn and Bailey McKnight
    Skin Delivery Formulation
    Ink World

    Latest Breaking News From Ink World

    Xeikon to Introduce TITON Food-Safe Dry-Toner Technology at Labelexpo Americas 2022
    Smurfit Kappa Employees Charity Cycle Across Europe
    ProAmpac’s Rocky Mount, VA Facility Receives ISCC Plus Certification
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    ePac makes big announcement, Avery Dennison debuts new technology and more
    Techkon USA announces latest handheld spectrodensitometer
    Maxcess China now manufacturing solid dies in Huzhou
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    INDA Appoints Director of Membership and Industry Relations
    Nexwear Acquires Incontinence Products Brand Lily Bird
    Because Market Expands into Retail Stores
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Theragen Receives Patent for Spine Fusion Bone Growth Stimulator System
    Study: BONESUPPORT’s CERAMENT G Can Help Save Infected Limbs
    Zavation’s Cervical Intervertebral Body Fusion Device Cleared by FDA
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    NREL, Birla Carbon Collaboration to be Shown at ACS Conference
    ORNL Celebrates Launch of Frontier, the World’s Fastest Supercomputer
    DuPont Names 2022 Lavoisier and Pedersen Award Medalists

    Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login