Next big thing in medical sales..?

[Anonymous]

What is everyone's opinion of the next big industry push in medical sales? Recent waves have included robotic surgery (back 5+ years ago it would have been a fun ride), EMR (thanks to Obama), so what is next? More importantly, in today's healthcare climate, do you think start-ups stand a chance of driving big innovation? Seems to me that start-ups will struggle because they aren't on GPO contracts and that will become more and more important and stall growth of a start-up. Does that leave us waiting for the large companies to innovate?

I know there are a lot of folks in different industries on this board, so I'm hoping this turns into a broad discussion across all departments of the hospital.

I will start it off- I think something in the field of personalized medicine will break-through. Things in the diagnostic testing world that can accurately assess your risk factors before you even step into a doctor's office or hospital. I don't have experience in that field, just stepping back and looking at the industry and taking a guess of what will hit. Google is investing their money into genomic testing, so seems like it may be a decent guess.

Thoughts?

 

[Anonymous]

Great question, with a plethora of unknowns.

Between ACA and ICD-10 the entire industry including pharmacology is spinning.

Transfer of procedures and Dx to CHCs and physician practices along with the formidable task of converting to the new ICD-10 coding methodology will PROBABLY cause tight budgets as cash reserves will need to remain stout in the face of reimbursement confusion and delays in coding.

The bundled reimbursement methodology will also be very interesting to see played out operationally.

Specific to Medical Devices I would think the shared functional platforms like those that allow for diagnostic and treatment (Endoscopic multi-port with foreign body removal and therapeutic installation of stents, etc) will keep steady pace.

I believe the individualized biologics and targeted therapies for cancers will continue to be of primary focus.

But who knows. This is a Brave New World.

Best of luck to all. I'm glad I am an objective outside observer who follows from an analytics and medical economics standpoint.

 

[Anonymous]

I would say most interventional platforms (spine & CTS) will keep up their high level of innovation. I have worked with 2 start-ups now and GPO's have not been a HUGE issue, as it has never been the declining factor. All the procedures are becoming significantly less to non-invasive and I look for companies that follow suit.

 

[Anonymous]

Great question, with a plethora of unknowns.

Between ACA and ICD-10 the entire industry including pharmacology is spinning.

Transfer of procedures and Dx to CHCs and physician practices along with the formidable task of converting to the new ICD-10 coding methodology will PROBABLY cause tight budgets as cash reserves will need to remain stout in the face of reimbursement confusion and delays in coding.

The bundled reimbursement methodology will also be very interesting to see played out operationally.

Specific to Medical Devices I would think the shared functional platforms like those that allow for diagnostic and treatment (Endoscopic multi-port with foreign body removal and therapeutic installation of stents, etc) will keep steady pace.

I believe the individualized biologics and targeted therapies for cancers will continue to be of primary focus.

But who knows. This is a Brave New World.

Best of luck to all. I'm glad I am an objective outside observer who follows from an analytics and medical economics standpoint.

You are thinking at a much higher and deeper level than the majority of the sales donkeys that are in device. Most probably don't even understand what you described above however you are definitely correct in that coding etc. will be a major issue.
Maybe you can dumb down the above paragraph some for the ex jocks who only know how to point to a box during a THR. They could learn something!

 

[Anonymous]

You are thinking at a much higher and deeper level than the majority of the sales donkeys that are in device. Most probably don't even understand what you described above however you are definitely correct in that coding etc. will be a major issue.
Maybe you can dumb down the above paragraph some for the ex jocks who only know how to point to a box during a THR. They could learn something!

Hahaha... life long challenge of mine. I thought I did and made it succinct.

Google search for those that care to educate themselves would probably be better then a long Hemingwayesque novel impact analysis on provisions of ACA impacting Community Health Center funding and ICD-9 to 10 coding.

 

[Anonymous]

Medical coding doesn't have much to do with medical sales. Unless you are looking at creating a consulting company that properly trains medical professionals the new quirks I would look elsewhere. Lets focus on new companies and technologies that good sales people could possible benefit on.

 

[Anonymous]

I know that some of the larger companies (i.e., Medtronic and Boston Scientific) are downsizing in businesses (CRM-pacing) to focus on the growth in neuromodulation.

Plastic surgery is another business not impacted by Obamacare. Robotics probably still has some growth left in that business but I agree with an earlier poster that 5 years ago was probably the time to ride that wave.

I know that Intuitive Surgical has a "churn and burn" reputation so good luck to those that work there. By that comment, I do not mean that I would not accept a job there but would certainly take it due to the challenge and the valuable experience gained.

Good luck to all!

 

[Anonymous]

You idiots are all ass clowns

 

[Anonymous]

Follow the $$ trail . It is all going office based procedures.

 

[Anonymous]

What is everyone's opinion of the next big industry push in medical sales? Recent waves have included robotic surgery (back 5+ years ago it would have been a fun ride), EMR (thanks to Obama), so what is next? More importantly, in today's healthcare climate, do you think start-ups stand a chance of driving big innovation? Seems to me that start-ups will struggle because they aren't on GPO contracts and that will become more and more important and stall growth of a start-up. Does that leave us waiting for the large companies to innovate?

I know there are a lot of folks in different industries on this board, so I'm hoping this turns into a broad discussion across all departments of the hospital.

I will start it off- I think something in the field of personalized medicine will break-through. Things in the diagnostic testing world that can accurately assess your risk factors before you even step into a doctor's office or hospital. I don't have experience in that field, just stepping back and looking at the industry and taking a guess of what will hit. Google is investing their money into genomic testing, so seems like it may be a decent guess.

Thoughts?

Renal Denervation

 

[Anonymous]

Renal Denervation

RND +1

 

[Anonymous]

Renal Denervation

Not likely. 4 different companies (competition) and fairly easy and straight forward procedure relatively speaking (not high tech) strict reimbursement (Finances tightening through Obamacare) and still yet unproven long term will not make RD the future of this area.

Foolish response for many other reasons I don't have time to type here. Good area for short term exciting procedure med - long term will be lumped in with all of the rest medical device/procedures.

 

[Anonymous]

Next big thing? Aggressively treating deep veins and PE.

 

[Anonymous]

I am surprised but not surprised at the same time nobody has mentioned Regenerative Medicine here. I speaks to the lack of creativity, vision, and outside of the box thinking that is so prevalent in the medical sales. This hands down will be the future of medicine in the near and long term. This was the most obvious answer to the a very simplistic question.

 

[Anonymous]

Regenerative medicine is many years away from clinical use. Although it is the future, it is highly unlikely that avg/good medical device guys will push it. Capital will be ungodly expensive and highly technical. I assume most of the salesforce will be compromised with scientist (MS, PhD & MD) like in the genetic engineering arena.

 

[Anonymous]

office based double organ transplant will define 2014. I said it first.

 

[Anonymous]

Regenerative medicine is many years away from clinical use. Although it is the future, it is highly unlikely that avg/good medical device guys will push it. Capital will be ungodly expensive and highly technical. I assume most of the salesforce will be compromised with scientist (MS, PhD & MD) like in the genetic engineering arena.

You very CLEARLY do not have close contact with the RM medicine industry. There are approximately 15 RM products on the market today in the US and many more internationally with one being on the market since 1966.

I understand you are anxious to post comments on the thread however please try to post accurately to provide credible information to others. RM is estimated to generate over $1.3 billion in 2013 in commercial sales and has already generated over $900 million in 2012.

RM does not only mean cellular therapy or tissue based therapy as that is only two of the four areas of RM. Medical device and drug discovery are the other two areas of RM. Again, you are completely misinformed and/or uneducated in this area.

 

[Anonymous]

interventional spine is the future! As a former spinal implant rep I've seen the MIS outpatient procedures grow immensely and have way better outcomes then full back surgery! Those spine cutters have all move to states that let them cut on anyone with back pain, but insurances have really stopped authorizing the big back surgeries.

I would say most interventional platforms (spine & CTS) will keep up their high level of innovation. I have worked with 2 start-ups now and GPO's have not been a HUGE issue, as it has never been the declining factor. All the procedures are becoming significantly less to non-invasive and I look for companies that follow suit.

 

[Anonymous]

interventional spine is the future! As a former spinal implant rep I've seen the MIS outpatient procedures grow immensely and have way better outcomes then full back surgery! Those spine cutters have all move to states that let them cut on anyone with back pain, but insurances have really stopped authorizing the big back surgeries.

Not really. Until a new code comes for MIS procedures it is dead. Too many places not getting paid enough or at all. At least for the endo procedures.

 

[Anonymous]

I am surprised but not surprised at the same time nobody has mentioned Regenerative Medicine here. I speaks to the lack of creativity, vision, and outside of the box thinking that is so prevalent in the medical sales. This hands down will be the future of medicine in the near and long term. This was the most obvious answer to the a very simplistic question.

Sure, but unless you are hooked up with the VA or DOD, good luck in getting commercial insurers or Medicare to pay for the regenerative medicine treatment.

I agree that RM is the future, but until is is reimbursable by the insurer community, we are talking about a "cash only" patient demographic.