Medical Device Link.

Originally Published MX November/December 2005

CONTRIBUTORS

Throughout 2005, MX has been exploring the current status of information technologies (IT) in healthcare—from the big-picture journey toward universal electronic health records down to the embedded software and systems being implemented on the device level. In this issue, the year-long IT in Healthcare series culminates with a roundtable discussion among eight industry experts who are playing varying roles in shaping the future of healthcare IT. While the participants in the dialogue agree that healthcare's journey toward connectivity is on its way, they also note that the current reimbursement scheme under which the entire system operates has not evolved with the needs of the market.

Topspin

Wolfe

When promoting a new or updated technology, few things can boost product sales the way word-of-mouth marketing can. For medtech manufacturers, forming a speakers bureau of engaging health professionals to present at continuing medical education (CME) events can put a company's product in a subtle spotlight while providing a valuable service to customers. But to effectively leverage the potential of a speakers bureau, medtech companies must play by the rules and design their events with the audience in mind. "The Art of the Subtle Sale", written by Catherine M. Wolfe, explores the ins and outs of forming a speakers bureau and crafting CME events, as experienced by diagnostic imaging systems provider Toshiba America Medical Systems Inc. (Tustin, CA). Wolfe is director of marketing services at Toshiba America Medical Systems. She can be reached at 714/669-4140 or via e-mail at cwolfe@tams.com.

Business Planning & Technology Development

Dotzler

The steady creation of new medical device companies, driven by the lure of financial opportunity as well as the incentive to do good in the process by making people's lives better, has been an important reason for the vitality of the medtech industry. Entrepreneurs are welcomed to the strong medtech sector, but not all succeed in their business enterprises. A lesson in how to avoid that fate is provided by "Starting Up Right", an article by venture capitalist Fred Dotzler, managing director of De Novo Ventures (Menlo Park, CA). Trained in engineering and economics, and schooled by management experience gained at several medtech companies, Dotzler distills his knowledge into a handful of essential principles by which he says an aspiring company founder should operate. He can be reached at fred@denovovc.com.

Advertising, Distribution, & Sales

Khalifa

After years of watching pharmaceutical companies practice and perfect the art of direct-to-consumer (DTC) marketing, medical device companies have only recently started to consider the opportunities that this avenue might present for their products. And although medtech marketers are just now getting their feet wet in DTC efforts, the climate is already changing. External and regulatory pressures are forcing pharmaceutical companies to reevaluate the veracity of their ads and seek better advertising alternatives. Medical device companies have taken note of the red flags raised by drug companies' approach to consumer marketing and are now in the position to fine-tune their own DTC tactics. One direction to go is toward the Internet, a powerful vehicle for reaching consumers—if a company knows how to do it right. "Marketing to the Online Consumer", by Daisy R. Khalifa, outlines an approach to harnessing the power of marketing on the Web, where consumers are more interested in education than advertising. Khalifa, based in Arlington, VA, can be reached via e-mail at daisykhalifa@verizon.net.

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