From Product Supplier to Solution Provider: How MedTech Firms Can Master This Transition
The healthcare industry is still struggling with the effects from the COVID-19 crisis. A key consequence: Healthcare providers are in financial troubles and plan to cut costs, for instance regarding the commercial partnerships with MedTech companies. To counter this development, MedTech firms have to transform from mere product suppliers to solution providers.
In the first part of our article series, we outlined why it’s high time now for MedTech companies to focus on this transition. However, once the decision is made, how should MedTech suppliers get started? There are two vital elements when developing a successful strategic business approach for becoming a solution provider. MedTech companies need to
- define their positioning
- determine their value proposition
Only when those two aspects are worked out, an…
