Medical device manufacturers have long marketed their products with limited concern for costs. But today, an aging population and skyrocketing medical costs are prompting private insurers and government payers worldwide to limit reimbursements for medical devices.
Medical device manufacturers are responding in two ways, by:
- Justifying product price points by carefully documenting their value in improving patient outcomes
- Reducing costs throughout their operations by rethinking how they sell and market their products, outsourcing operations, and implementing lean manufacturing principles
This will detail how enterprise software enables medical device manufacturers to more successfully implement this price justification and cost cutting initiatives.
For the upcoming weeks Cre8tive Technology (www.ctnd.com) will be posting a four-part series on Spotlight on Medical Device Manufacturing: 6 Ways to Justify Prices and Rein in Costs with Enterprise Software
June 5 Why Medical Device Manufacturing is Becoming Cost Conscious
June 12 Responding to Pricing Pressures and Increased Costs
June 19 The Role of Enterprise Software in Price Justification and Cost Cutting
June 26 Conclusion
From an Epicor White Paper
Epicor Software Corporation is a global leader delivering business software solutions to the manufacturing, distribution, retail, and service industries. With more than 40 years of experience, Epicor has more than 20,000 customers in over 150 countries. Epicor solutions enable companies to drive increased efficiency and improve profitability. With a history of innovation, industry expertise, and passion for excellence, Epicor inspires customers to build lasting competitive advantage. Epicor provides the single point of accountability that local, regional, and global businesses demand. For more information, visit www.epicor.com.