Lower-cost generic medical devices may become more widespread in coming years, according to a white paper published by business intelligence consulting firm Fuld & Company.
The report, titled "Generic Medical Devices Are Closer Than They Seem," reported that the ease of distributing a medical device through various sales channels ranges greatly and can easily affect the commercialization success of a product. For example, selling a product can be easier at a physician's office than at a hospital because the physician's office doesn't have the pre-existing "vendor matrix" of 10-12 vendors, according to the report.
The report cited generic versions of an asthma albuterol inhaler and a female stress urinary incontinence sling as examples of successful generic medical devices. The manufacturers of these products have worked with hospitals, ASCs and GPOs that want a lower-cost device. The report suggested GPOs may eventually be forced to purchase generic medical devices due to pricing pressures.
While more complicated devices may be unfeasible, the market for small generic devices is potentially large, according to the white paper.
To download a copy of the generic medical devices white paper, go to www.fuld.com and click on "Reference Center".
Read more on supply chain:
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The report, titled "Generic Medical Devices Are Closer Than They Seem," reported that the ease of distributing a medical device through various sales channels ranges greatly and can easily affect the commercialization success of a product. For example, selling a product can be easier at a physician's office than at a hospital because the physician's office doesn't have the pre-existing "vendor matrix" of 10-12 vendors, according to the report.
The report cited generic versions of an asthma albuterol inhaler and a female stress urinary incontinence sling as examples of successful generic medical devices. The manufacturers of these products have worked with hospitals, ASCs and GPOs that want a lower-cost device. The report suggested GPOs may eventually be forced to purchase generic medical devices due to pricing pressures.
While more complicated devices may be unfeasible, the market for small generic devices is potentially large, according to the white paper.
To download a copy of the generic medical devices white paper, go to www.fuld.com and click on "Reference Center".
Read more on supply chain:
-5 Proven Strategies for Surgery Centers to Work With GPOs
-10 Statistics About ASC Medical and Surgical Expenses
-Amerinet Launches ACO Resource Center