Episode 19: The Key Drivers Paving the Future of the Medical Device Industry

In this episode, we are joined by Parimal Shah, the General Manager of Ultrasound Radiology at Siemens Healthineers. Parimal is a recognized transformational MedTech leader who focuses on clinicians and patients. We discuss the changes in the MedTech industry over the last twenty-five years, the key challenges that the industry is facing right now, and the interrelationship between customer relationships and product experience. Tune in to learn more about the current status of leadership in the industry and why it needs to evolve. Finally, Parimal shares his predictions on the industry and digitalization for the next two years.

In This Episode, We Cover:

• [04:23] Key challenges the MedTech industry is facing right now.
• [09:24] The interrelationship between customer relationships and product experience.
• [13:27] The issues that need to be solved to succeed in customer experience expectations.
• [15:25] Why does leadership need to evolve?
• [17:50] Parimal shares where he sees the digital transformation in the next two years.

Key Takeaways:

• Customer experience in the MedTech industry is viewed in two different ways. First, what it takes to get this product in the hands of customers in the way in which it can be managed and used. Second, business continuity is seen as a higher priority in the minds of our customers, and this is coupled with how they use it, the convenience of use, the cost at which it comes, and how it can be digitized so that it can be used by clinicians who are not as well versed with the products.
• Leadership in the MedTech industry needs to evolve. The industry requires leadership who can be versatile and diverse enough to look at current technologies and trends and how they will impact the customer’s business.
• The nature of digital is majorly influencing the buying decisions. It is about who owns the data, what you can do with it, and what outcomes you can change with it.