Chairman & CEO / MedTech's Top Search Consultant / The Mullings Group Companies / Board Member / Angel Investor / Keynote Speaker
Look for specific market verticals to change. Interventional cardiology, interventional neurology, general surgery, gynecology, bariatrics, and urology represent a fantastic state of opportunity of winners and losers over the next 5 years. The dynamics of: - Venture funding that drives product innovation that has for the most part, exited the large strategics along with R&D budgets being reduced. Reduced R&D budgets impact internal development as well as M&A dry powder. - Shifting reimbursement guidelines directed at influencing value-based care. Driving evidence-based outcomes that can only be derived from incorporating technologies that at first glance do not make economic sense, but as continued use and workflows are established, the economics do make sense. IN THE RIGHT SETTING. - The right setting - Changing centers of care from in-patient to outpatient and ASC models and the wide-open landscape for a smaller more malleable environment for technology and digital innovation. - Healthcare worker careers diverge and are represented appropriately and selected appropriately. The ASC team member will be selected, trained and respected like an Indy Team pit crew. Not as an institutional worker as is the case in a majority of hospital settings. Similar to a startup company mindset versus a large corporate mindset. The great leadership will understand this, design strategies to attract those personas, select them based on assessments, motivations and design in shared rewards of the business. ASC employment will be a lifestyle employment choice. Work with similarly driven and creative team oriented players. The companies that make and sell medical devices and the organizations that provide healthcare services to the consumer will break down into one of two categories. The one's who’s current strategy has been designed for the structure that has been in place to date. And The reconstructionists who are shaping the new market. Game on.
Bill Hunter
2mo
Joe just turned 30, so he might not know why he is so right about this…but, 30 years ago when he was a baby, medicine was doctor-centric - why is your device better for my patients? Not anymore. Today medicine is payer-centric- will your device save me money? All of us in this industry book sales calls with doctors, but we should book them with payers. How can I reduce your costs? How can I move patient care from in-patient to out-patient? Sarcastic, perhaps, but probably true.
Thomas Richard
2mo
Joe Mullings love your brand & the way you’ve built your agency Joe. Very cool & forward thinking. Keep going & keep ‘killing it’ my friend
Blake Barnes
2mo
I see these evolutions as being a “slow burn.” It will be interesting to see how companies can win while navigating these changes. The sweet spot involves winning today in the current state while simultaneously shaping and succeeding in the market to come. The challenge becomes, how can current players in the industry avoid being in just one of these two categories?
MedTech Director | Commercialisation of new tech | Market Access | Marketing | Leading multi-disciplinary teams to bring products to market internationally
2moI see two big areas manufacturers need to get right. 1. Defining with a physician group what is the thing that needs to be measured at the hospital level to SHOW to management this is a good idea. This is different to evidence at a population level. 2. While the HTA bodies/governments want to work in averages of the population, hospitals and physicians need to know worst cases. A huge barrier to endovascular work being taken into ASC is the perceived need of surgical back up. So subsets of patients may need their own analysis