MedTech is sharpening portfolios with value-added services

So many medtech manufacturers are building digital and hardware ecosystems that bring extra value to customers, increase switching barriers, provide competitive advantage and differentiate from competitors.

One example area of focus is in the race between GE and Siemens to use AI-powered imaging.

According to the digital and automation teams at Siemens Healthineers AG North America, next-gen AI solutions will merge distinctly different pieces of clinical data, such as lab findings, imaging and pathology, combine it with a patient’s genetic profile, and present decisions for diagnosis or tailored treatment.

A specific example (1) was given in urology for prostate cancer patients where AI could help calculate risk of tumor growth in patients under active surveillance by their doctors and must have biopsies every six months to determine if their tumor has grown.

AI can help urologists take these different forms of clinical data about the patient to determine how effective treatments, such as radiation therapy, are for the patient and adjust treatments accordingly.

With this form of personalized treatment, urologists can scan their patient populations to look for patients with similar profiles as an individual patient and apply that same therapy to a cohort of other analogous patients and have a high probability of getting similar results. This is true population health management.

Not in the imaging space? So many other medtech modalities have opportunity to create digital and hardware ecosystems that bring value to customers, increase switching barriers, provide competitive advantage and differentiate from competitors.

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