Medical technology and digital: primary levers for change
March 2018

March 2018

Established medical technology companies are facing a challenge with the explosion of digital technology and how it has impacted the healthcare industry. New entrants and start-ups easily employ newer, more agile working models that are better aligned with a digital economy. However, the operational and cultural DNA of many established companies has been steeped in rigid processes that were created to minimize the risk of non-compliance with regulatory requirements, such as US FDA guidance. Hence, going digital has strained their current ways of doing business. In this article written by Mitch Beaumont, Prashanth Prasad, Ulrica Sehlstedt and Mandeep Dhillon from Arthur D. Little, the authors have identified two sets of primary levers that executives can use to effect changes to their companies’ business and operational models in order to support a digital business.