Medical Device Company
Although the potential market for new medical devices is exploding in size, this is not without considerable competition to be the “killer device” that dominates the area it’s aimed at. As a result, medical device companies face many business challenges including the need to reduce costs to offset margin pressures, the requirement to substantially reduce the cost and risk of compliance, the expectation to reduce waste and inefficiency in all areas (including research, development and manufacturing) the need to ensure long term supply-chain stability, and finally, the customer-side demand to speed up and stabilize new product introduction. In addition, all medical device start-ups and mature manufacturers are facing the challenge of moving from paper-based to paperless or electronically-enabled manufacturing because of the cost, quality, regulatory, and supply-chain benefits associated with the latter.
In recent times, the RX4 Group and its sister companies in The Adaptive Healthcare Network have solved issues and
challenges in this area such as the following: