As the health care system increasingly values efficiency and outcomes, Internet of Things applications are changing medtech strategy, business models, and operations. But in the IoT ecosystem, medical-device companies share space with players from adjacent industries; some will be competitors, others collaborators.
INTRODUCTION
The importance of data in delivering efficient, effective health care has long been obvious—and has never been greater. The increased focus on value-based care is shifting financial incentives to a model in which providers are compensated based on how their patients fare, rather than by the number of tests, visits, or procedures performed. This means that providers, patients, and everyone in between are more eager than ever to measure patient outcomes in order to determine what works and who gets paid.
RECOMMENDATIONS AND GUIDING PRINCIPLES
Continue seeking device differentiation, when possible
Build a portfolio of IoT-enabled innovations.
Focus development on areas of high unmet needs.
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