Customer Excellence: Business Model Innovation for MedTechs
- VOLUME XV, ISSUE 3
- Executive Insights
Gone are the days when hospital-based doctors are blindly spending funds on the latest and greatest medical products and technologies without a second thought to the price tag. Low margins, combined with an increasing mix of less profitable patients and growing provider competition, are forcing hospitals and other medical providers to simultaneously control costs and improve outcomes. L.E.K. Consulting believes there is huge opportunity for medical device and medical technology partners to innovate and move away from solely focusing on product innovation and product sales. To be successful, they must evolve towards a new “Customer Excellence” model.
Our new Executive Insights report highlights:
L.E.K. highlights best-in-class MedTech companies such as GE Healthcare, Fresenius, Alcon and Novo Nordisk that are successfully offering broad product and service solutions around targeted disease areas. Developing a true “Customer Excellence” model, paired with “Product Excellence,” allows MedTech companies to be truly valued partners, delivering seamlessly integrated solutions to help solve hospitals’ challenges and win in the future.