In the past, after a new medical device was introduced, add-on innovations were introduced that increased the price. All of this was good for both customers and suppliers.
The trend in the healthcare industry means that patients and providers are not requiring the most advanced and expensive products. All parties are weighing healthcare options more carefully and aiming for value at a lower price.
The future will likely be made up of smaller, more affordable, and faster medical devices from The clinician Exchange. Companies will realize that adding new bells, whistles, or other features will not bring the same revenue increases as in the past.
The second trend in medical technology is the continuum of care. Medical technologies were sold and focused on the same areas that physicians did in the past. New technologies are being created to support integrated care, a strategy that is supported by the Affordable Care Act (ACA) and Accountable Care Organizations.
Physicians will have to share information about test results, diagnoses, treatments, and other matters. To meet this challenge, medical technologies like mobile devices that monitor patient performance are being created.
These trends, along with the fact that hospitals are consolidating, hospital-physician alignment is growing, hospitals continue looking to consolidate suppliers, patient satisfaction is an increasingly important cornerstone of hospital reimbursements mean that hospitals are changing what and how they buy it and what they will pay for it.