BY TED DRIGGS
How many times have you heard this announcement on television or in real life at a hospital? “Doctor to the emergency room…STAT!” In a situation like this, a team is called upon to be the first responders and mitigate the problem quickly with intense focus.
Medical Device Manufacturing is in the E.R.
“Doctor…we need a highly-productive manufacturing solution…STAT! This is the situation we see today in the medical device industry. With the advent of the Affordable Healthcare Act, as of January 1, 2013 a new federal excise tax has been placed on all manufacturers of medical devices that include implants. This 2.3% tax has the medical device manufacturing industry examining their financial bottom lines. Everything is under a microscope to assess the cost of doing business, from reducing research and development, slowing or stopping business expansion, to eradicating capital expenditures. Or, as a last resort, layoffs of loyal, skilled labor. The medical device industry is in need of E.R. care when it comes to manufacturing solutions.
The Doctor is Here!
No, not Marcus Welby or Kildare or even Phil. Manufacturing processes are where the gurney meets the road in this case. Device manufacturer costs come from both the raw material itself and each and every process step the product makes along the manufacturing path, until it is packed and shipped. So, if we can make the manufacturing process more efficient to drive down the unit cost of the device, offsetting this new tax can be realized. Okuma and Partners in THINC have lots of expertise in their black bag to provide some quick relief.
What’s the Cure?
Click here to find that cure!