Contact: MaryAnn Long
Agency Director

Press Release

New Report Details Exponential Growth Opportunities for MedTech Companies as Industry Shifts from Fee-for-Service to Patient-Centric Models

MedTech companies have opportunity to gain new customers within the $2.47 billion value-based market

Brookfield, WI – A new report released today by Cultivate Communications details the exponential growth opportunities for MedTech companies looking to carve out a larger share of the $2.47 billion value-based medical market as the industry shifts from fee-for service to patient-centric health care models.

The report, Beyond the Device: How Value-Based Care is Transforming Medical Device Marketing and Sales, reveals key strategies MedTech companies should take in order to gain access to the market and obtain value-based care contracts, like transitioning from traditional market access models to value-based strategies.

Read the report here.

“Our research indicates that stakeholders now require medical device manufacturers to clearly show evidence that their products achieve better health outcomes at reduced or reasonable costs,” said MaryAnn Long, Agency Director at Cultivate Communications. “This transition requires both a mindset and a business model shift to how your products and services are pitched and marketed.”

Traditional market access models are typically focused on commercial or sales and marketing functions, but companies now must shift that focus to value-based strategies. To do so, Cultivate’s report details six elements that are fundamental in a value-based system:

  1. Organize care around medical conditions. Care delivery is centered around the medical conditions of a patient or population.
  2. Measure outcomes and costs for every patient. Every patient’s outcome and total costs are measured.
  3. Aligning reimbursement with value. Bundled payments, global capitation, shared risk, and shared savings are the four main reimbursement models that reward improved outcomes and efficient care./li>
  4. Systems Integration. Interoperability between multiple systems and organizations is essential to addressing fragmentation and improving the efficiency of care.
  5. Geography of care. Strategic expansion and integration with industry providers can widen access to care, improve treatments, drive innovation, and reduce gaps in services.
  6. Information Technology. Healthcare systems can leverage information technology to measure results and restructure care delivery.