All medical practices, regardless of size, utilize various forms of medical technology. For assistance with your healthcare technology needs, familiar with many healthcare vendors, or to help with your strategic sourcing needs, please contact Susan Larsen at 303.520.6030 to see what an experienced attorney can do for you.
Medical technology continues to advance at a very rapid speed, introducing advancements in devices, vaccines, procedures, information technology, organizational systems, and many other areas on almost a daily basis. This proliferation of medical advancements hails from both new and long-existing sources, either through development or purchase.
Medical technology has provided us with personalized mobile apps, payer/provider analytic software, pre-verified on-demand healthcare workers for healthcare facilities, among a host of other technological items. As a large number of Americans are continuing to live longer lives, technology is rising to meet the additional needs of this population segment to allow them to age in place, live independently longer through medicine reminders, furry hug-bots, electronic fall alerts, chat bots, and other technological advancements. AI is being tested to help with addiction issues, develop custom care plans for patients, and to deliver proper doses of medicines.
Existing medtech may still be sole source or may now have multiple providers. Legacy tech may benefit beyond automatic annual renewals with a fresh examination of the marketplace and any alternate providers currently available. Oftentimes, current vendors present more favorable terms purely for customer retention, but only when pressed.
While day to day needs may be met by standard procurement procedures, a longer-term strategic sourcing plan may benefit your organization by reducing costs, securing supply chains, greater leverage during negotiations, future planning, and fresh outsourcing models. Developing excellent, mutually beneficial, vendor relationships can benefit your organization for many years to come.