Integrating vendor support services and moving from product-centric business models to value-driven business models

0

DUBLIN, June 3, 2022 /PRNewswire/ — The “Global Medical Device Leasing Growth Opportunities” report has been added to from ResearchAndMarkets.com offer.

Research_and_Markets_Logo

Leasing is catalyzing the creation of new opportunities for suppliers to introduce service-based business models such as inventory optimization and asset management, predictive maintenance and equipment lifecycle management.

Globally, hospitals and healthcare systems are facing financial pressures caused by high operational and administrative costs, declining revenues and reimbursement rates, and the rising cost of medical devices ( due to advances in technology) and infrastructure. The COVID-19 pandemic intensified this financial crisis as patient volumes plummeted and further negatively impacted revenues.

Despite these challenges, hospitals need to invest in technology that improves operational efficiency and patient outcomes. Advanced technology attracts more patients and helps hospitals recruit or retain qualified clinicians by improving their capabilities and motivation.

However, many hospitals and healthcare systems aim to preserve cash, making them reluctant to invest large sums in capital equipment that is prone to obsolescence. Therefore, hospitals need alternative funding or procurement options. This need is driving innovative procurement models such as leasing among medical device OEMs and leasing companies.

Leasing models allow hospitals to procure state-of-the-art equipment while saving money, with the option to own the devices or renew contracts at the end of the lease term. Additionally, some medical device OEMs are improving the affordability of medical devices for hospitals through innovative financing; others partner with third-party finance companies to design customized financial solutions.

Innovative sales models such as leasing not only improve device adoption by healthcare providers, but also improve revenues for OEMs and leasing companies through the introduction of value-added offerings. In developed markets like United StatesAs vendors face increasing pressure from payers to contain costs through value-based reimbursements, vendors are demanding that medical device vendors share the risk and deliver enhanced value beyond their products.

Medical device leasing enables hospitals in developed markets to improve device efficiency by transferring the risk of equipment downtime to vendors and allowing them to focus on core clinical goals while improving outcomes for the patients. In emerging markets, leasing creates better access to appropriate technologies at a lower initial cost for suppliers. Leasing allows OEMs to shorten the sales cycle, avoid huge discounts because the cost is stable and ongoing, bundle solutions, and create a recurring revenue stream.

Given the continued financial pressure on vendors and growing demand from medical device vendors, the product-based commoditization model will pave the way for a lease-or-servit model, which benefits all stakeholders in the industry. value chain.

Key topics of this research service:

  • Impact of Key Strategic Imperatives on the Global Medical Device Leasing Market

  • Scenarios favoring the rental of devices

  • Changing dynamics of health service delivery

  • Benefits of leasing models for device vendors

  • Moving from the product financing model to the servitisation model

  • Value drivers among distinct markets and end users

  • Rental value chain

  • Maturity of the solution in the vendor landscape

  • Better growth opportunities

Main topics covered:

1. Strategic imperatives

  • Why is it increasingly difficult to grow taller?

  • The strategic imperative

  • The impact of the top three strategic imperatives on the medical device rental market

  • Growth opportunities fuel the growth pipeline engine

2. Market Overview

  • Segmentation of the medical device rental market

  • Medical device leasing is driven by capital budget constraints and the need to preserve cash flow post COVID-19

  • Advantageous conditions make leasing the preferred method of financing medical devices

  • Favorable Rental Device Scenarios for Vendors

  • Increased operating costs, decreased reimbursement rates, and COVID-19-induced volume decline for healthcare systems to accelerate adoption of rental model

  • Trends in rental or alternative purchases in key segments

3. Factors Influencing Adoption of the Rental Model

  • Determinants of MedTech Acquisition (New, Replacement, and Upgrade)

  • Key Drivers for Vendor Adoption of the Medical Device Rental Model

  • Key Constraints to Vendor Adoption of the Medical Device Rental Model

  • Changing dynamics in healthcare services favor leasing as an alternative procurement model for providers

4. Value Proposition for Donors

  • Key challenges and benefits throughout the medical device lifecycle mitigated by the leasing model

  • Benefits of the Leasing Model for Medical Device Suppliers

  • Leasing started the servitization trend for suppliers, generating higher margins for OEMs

  • Leasing providers need to decipher the drivers of value among distinct markets and end users

5. Competitive Landscape

6. Universe of growth opportunities

  • Growth Opportunity 1: COVID-19 Catalyzes Exploration of Leasing Models Among Healthcare Administrators

  • Growth Opportunity 2: Partnering with Leasing Companies Allows OEMs to Improve Market Access, Customize Offerings, and Strengthen Positioning

  • Growth Opportunity 3: Moving from a Product-Centric to a Solution-Centric Approach Improves Customer Loyalty and Margins

For more information on this report, visit https://www.researchandmarkets.com/r/2mupzv

Media Contact:

Research and Markets
Laura Woodsenior
[email protected]

For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900

US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716

Quote

Quote

Show original content:https://www.prnewswire.com/news-releases/global-medical-device-leasing-market-analysisopportunity-report-2021-vendors-integration-of-support-services-and-shift-from-product-centric- to-value-oriented-business-models-301560845.html

SOURCE Research and Markets

Share.

About Author

Comments are closed.