Medical assistant working on centrifuge - Business Intelligence for the Medical Technology Industry

Business Intelligence for the Medical Technology Industry

Medical technology under pressure from competition and costs

Medical technology is undoubtedly one of the most important drivers of the German health market. Its innovations provide the technical base and infrastructure for a modern health system.

Due to its high potential for innovation and high-quality developments, the German industry is particularly successful on the export market with foreign sales accounting for more than 50 percent. Yet competition on the world market is growing, both from a technological and an economical point of view. There is also the danger of losing additional market share on the domestic market.

Services provided by authorised personnel are becoming increasingly important. It is therefore important for companies to control the service business as well as possible. This also involves knowing the exact product life cycle.

At the same time, health economic considerations play an increasingly important role in all new developments. This requires a greater focus on researching new solutions.

Companies need to be able to recognise innovation potential quickly and safely, and also opportunities for reducing costs. Information about the market, as well as all internal business areas, is key. Medical technology is a multidisciplinary field of research and application that covers many areas. The relevant data for decision making is correspondingly extensive and unmanageable.

Our intelligent software solutions based on QlikView make it possible to link and analyse even large, complex data from a variety of sources . Users in specialist departments are provided with valuable information for strategic decision-making. Reports can be automated, which saves time. And this can be done easily and without the need for costly IT support.

Solutions for medical technology manufacturers, distributors and service providers

Medical technology manufacturers can analyse their sales, market, research and compliance data flexibly and use this information to ensure methodical and effective approvals as well as tactical placement of their products.

Medicine technology distributors can use targeted data analysis to identify potential areas for optimising their sales, marketing, warehousing and delivery processes.

Service companies can provide their customers with comprehensive information on maintenance and repair topics at the touch of a button and document equipment histories in full.

Various Areas of Application

Our Business Intelligence solutions are applied in different areas of the medical technology industry. Solutions for the following fields are particularly popular

Innovation through information for the medical technology industry

With our solutions, you lay the foundations for faster and better business decisions relating to:

Production

Analyse whether, when, and where outsourcing measures are required. Refine and expand process optimisation methodologies (Six Sigma, lean). Take advantage of specific customised dashboards and reports for different areas of responsibility. Integrate data from manufacturing with other corporate and compliance data. Achieve lower operating costs outside of production.

Research and Development

Improve cooperation with hospitals. Use transparent data views together with sales, marketing and research. Focus on high-quality projects which fit the corporate strategy optimally. Accelerate clinical trials and product approvals. Simplify the exchange of data in complex clinical trials that have large numbers of participants. Identify new market opportunities using stable analysis and forecast models.

Compliance

Make compliance governance central to the business processes. Implement compliance architecture in the company. Collect, organise and analyse comprehensive compliance data. Standardise analysis and reporting for a number of laws and regulations. Track the effectiveness of compliance programs. Reduce compliance risks and costs.

Sales and Marketing

Improve the profiling and segmentation of facilities, medical and nursing staff. Select the key customers for sales success. Control your field staff effectively. Track the progress of campaigns and sales performance in real time. Share customer feedback on product satisfaction with manufacturing, research and development. Update e-detailing sites and marketing campaigns within days.

Supply Chain

Analyse supply and distribution channels, taking into account factors such as product type, country, legislation etc. Streamline cooperation with customers and partners. Create greater transparency in the warehousing of distributors, supply companies and major pharmacies. Avoid negative stocks and surpluses and reduce operating costs. Recognise impending delivery delays. Track the quality of outsourced work and the performance of the contract manufacturer.

Finance

Automate processes and optimise financial reporting. View the statement of income from the corporate level down to cost centre level. Improve financial control and performance forecasts. Track the development of sales targets using scorecard metrics.

Get more out of your business

Does this sound interesting?

By working with you, we know that we can find the ideal concept to meet your specific requirements. Get in touch with us to discuss how COSMO CONSULT and our BI Solutions can help you to get more output of your business.

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