BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT The Paradigm Shift in Outsourcing New-model outsourcing firms are improving their offerings for medtech manufacturers. As a business strategy, outsourcing has been around a long time. But today, something is different about the way that medtech companies are using outsourcing. Faced with the needs to preserve investment capital, streamline operations, and advance multiple projects simultaneously, medtech executives are increasingly turning to outsourcing firms that offer a wide range of integrated services. The emergence of such full-service firms specializing in medical technologies is making it possible for medtech companies to outsource an even greater number of operations and to optimize their spending in those areas. To find out more about how and why medtech outsourcing is changing, called on two experts in the field for this issue's roundtable conversation (see sidebar). And to flesh out the picture provided by the participants, challenged representatives of several major medtech outsourcing firms to give their best advice for addressing difficult scenarios in outsourcing. Their responses, presented here in sidebar format, demonstrate that today's full-service outsourcing firms provide excellent resources for helping to resolve such dilemmas. MX: Is there something about the way the medtech supplier community has grown that makes the terms mutually exclusive or different from one another? I think most people are still using those terms in the same sense. But certainly, my firm is looking for a relationship different from what we have had in the past with contract manufacturers. The kinds of relationships that we are developing now are very different. We are working with our outsourcing partner all the way from initial product design through the whole manufacturing process, including validation and final distribution of the product to the customer. So, rather than maintaining the traditional arm's-length relationship between a device company and a contract
Products & Services
Specialty Business Services
Specialty business services are consultants, firms, and companies that provide specialty or proprietary business services.
Information and Database Services
Information and database services build, manage and/or provide access to databases and indexes of technical and business information.
Logistics Services
Logistics services manage the flow of goods and services between the point or origin and the point of consumption.
Human Resources Software
Human resources software is used to help recruit applicants, hire and train employees, administer employee benefits, and manage both part-time and full-time personnel.
Topics of Interest
BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT With an ever-expanding menu of services, full-service outsourcing firms are reshaping medtech's vendor community. As cost pressures on the healthcare...
Myths and Misconceptions in Medtech Outsourcing Contract manufacturers discuss the most common misconceptions about outsourcing and offer solutions to OEMs. As the medtech industry has become more...
It hasn't been all that many years since medical device manufacturers discovered that their parts and repair services for capital equipment could be a valuable commodity to their customers. Since that...
BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT With an ever-expanding menu of services, full-service outsourcing firms are reshaping medtech's vendor community. The use of outside vendors has a long...
Outsourcing portions of an IVD company's workload may confer an advantage in terms of both R&D and production efficiency. As the technology available for IVD systems becomes increasingly...
