Crais Management Group Completes Study on the Changing Nature of Medical Device Development

New Orleans, LA, January 19, 2016 --( Crais Management Group Completes Study on the Changing Nature of Medical Device Development, Connected Biotech Systems, and Capital and Detail Sales in 2016 Global Healthcare

Crais Management Group (CMG LLC) launched a study last year on the changing nature of medical device, biotech, biomedical, and health information technology research, design, development, and commercialization. The findings of the study are available in summary form to media and university partners, with the full survey made available to clients and commercial partners.

Objective: Objective of the study was to get an overview of the macro and micro changes taking place in health technology development and commercialization with the following influences:

· Open Innovation
· Open Platforms
· Global Market Demands
· Design Thinking
· Infectious Disease/HAI
· CAD and 3D Printing
· Tech Incubators
· Accountable Care: Value Based
· API’s
· CNC Machining
· Outsourced Design
· App Store Distribution
· Sunshine Act
· HIPAA and Security
· Consumerization
· Online Marketplaces
· SDK’s and OpenDev

We know that the Accountable Care Act is bringing about many changes in healthcare, but what has had less attention is the rapidly changing environment of medical technology development and commercialization as the value chain from research and design,, to distribution is disrupted with new innovations, technologies, and constraints.

Crais Management Group is a leader in the field of business and technology design, development, and commercialization. With David Crais, CEO of CMG LLC, having over 25 years in healthcare technology development and marketing, including public markets finance, sales management, bioengineering, and medical systems management, the team at CMG LLC saw these changes and embarked on the research and analysis to understand the drivers of change such as industry shifts, policy changes, technology developments, operational economics, and innovation diffusions.

Results: New manufacturing systems are driving the cost of design, prototyping, and production down to a fraction of the previous capital spend required for medical tech development. New sources of funding allow for non-traditional vendors to enter the market for med device and IT development. However, the changing consumer and provider landscape with ACO’s, CIN’s, retail clinics, and telemedicine make only the most nimble and well planned innovators in the market strong contenders in the growing global and post-reform framework.

Devices with on board data storage and connectivity make every component of medtech a connected smart system. With this, interoperability standards become even more important, as do security and privacy. Like Marc Andreessen said, “Software is eating the world.” Well, all technology is going mobile, social, shared, connected, rapid manufactured, along with analytics capabilities at the back end from stored data. This is the brave new world of medical technology.

Also with this, sales and marketing methods will have to change. The new forms of corporate and system healthcare, driven in the 1990’s by HMO’s and for-profit equity backed healthcare companies, is now changing with ACO’s and IDN’s; the economics driven by “Obamacare.”

The ACO by definition is a parent organization to acute care centers, medical practices, labs, pharmacy, imaging and other services of coordinated care. The traditional “detail rep” will not survive this change.

The Sunshine Act, formularies, centralized purchasing, and corporate restructuring after the 2008 recession led to many layoffs and changes with medical sales forces and marketing teams. The shift to digital advertising, tablet-based detailing, GIS intelligence, advanced CRM analytics, and the influence of apps and CPOE modules will further change the medical sales force as we know it.

Places of care delivery are also changing. Retail clinics, telemedicine apps (Teladoc, Doctor on Demand, etc.), practice based telemedicine, employer clinics, medical tourism will mean “going to the doctor” will take on many new forms. This is a cataclysmic change for healthcare systems, payers, and patients.

Concierge medicine, PayPal, etc. may bring changes to Health Savings Accounts and other payment innovation attempts from previous reform eras.

The study shows the many facets and levels of change happening in and to the medical sales market, and the many more to come.

About the Study: CMG LLC team members attend and speak at over 30 medical and technology industry conventions annually. In addition, they take part in many smaller regional and specialty symposia to learn the trends in the marketplace and track changes in policy, economics, marketing, technological development, and management. David Crais, CEO of CMG LLC sits on two university advisory boards for technology transfer and medical product development and entrepreneurship. CMG LLC collects over 600 sources of industry and market intelligence weekly.

This knowledge management platform was used to understand discrete events, analyze patterns and connections, and forecast the trends found in this study.

For More Information Contact:
Gina Hartman David Crais
504-813-6145 985-809-6824
Crais Management Group, LLC
David Crais