Managing fast-paced innovation
Reinventing medical technology
Medical technology is a rapidly growing market driven by software, data, and artificial intelligence. New Internet of Medical Things (IoMT) applications are not only changing the client relationship but entire business models. We support medical technology companies to reinvent their operating models, processes, and IT ecosystems.
The future of medical technology is connected
Medical technology companies are leveraging software and data to innovate healthcare at every step of the patient journey. From diagnosis to care, smart and connected devices offer new business models. These go beyond the provision of medical devices to provide a holistic solution for the product's lifecycle and the business relationship with customers. We help industry players keep pace with these fast time-to-market product lifecycles and find the right balance between innovation, effectiveness, and safety.
Our industry, process and IT expertise complement your innovation
We provide services and solutions to support your digitalization, integration, and collaboration in this rapidly growing market. Partnering with Tenthpin offers access to a team with a proven track record in providing integrated consulting services across the entire medical technology value chain.
Challenges transforming the medical technology industry
Processing real-time data
Smart devices such as biosensors, wearables, and the internet of medical things (IoMT) require and provide vast quantities of information. The integration and optimization of existing platforms to meet the requirements of new solutions is a constant challenge.
Safeguarding patient data
Connected medical devices collect and share data remotely – both in human and animal health. As a result, companies face new challenges they have never previously needed to consider, like data protection and data safety.
Managing the installed base
Diagnostics and point of care services are moving closer to the patients, away from typical clinical settings. E.g., heart rate monitors are now wearables for the general population. Therefore, medical technology companies need to find ways to manage a different kind of installed base for their devices.
Accessing distribution or R&D
Start-ups seeking proven distribution networks, and manufacturers seeking specialized software providers are increasing collaboration. Synergies are sought between established market leaders and new entrants. As collaborations grow closer, consolidation through mergers & acquisitions will remain a topic central to all the industry’s leading players.
How IoMT is transforming after-sales-management
Digitalization and the internet of things, or more precisely the internet of medical things, offer a whole new set of capabilities. Sensor data collected by the devices in the markets are used for predictive maintenance and quality improvements – increasing the availability of the devices at the customer sites, helping the manufacturers to fulfill their service level agreements, and providing greater opportunities for long-term service partnerships.
While it is your core competence to innovate healthcare, it is our core competence to assist you in building an effective operating model. Our range of services is broad, and industry leaders seek our advice in areas such as:
Solutions for manufacturing and planning processes as diverse as from industrial hatcheries to patient wearables.
Processes in compliance with regulatory requirements like European Device Registration (MDR) and In-Vitro-Diagnostics-Registration (IVDR)
New commercial go-to-market models including consumption or usage-based pricing, rentals, operating leases, or free devices with associated commitments for consumables
Design efficient end-to-end supply chain scenarios starting with presales via eCommerce, through instrument capitalization right to billing and revenue recognition
Integration of new business model activities into the whole process
Integration of connected devices into the existing IT landscape
Leverage data for research purposes by using artificial intelligence and machine learning in a predictive capacity
Create revenue generating after-sales management
Support collaboration efforts and merger & acquisitions
In which area can we assist you?
Talk to our experts.
How to tell the health of a whole heard?
Two or three cattle showing reduced activity in the field is an early warning about the health of the whole herd. GPS-enabled ear tags linked to monitoring and predictive software may be a worthwhile investment.