Innovation Challenges in the BioMedical business:
New Service Business Model

In addition to break throughs from Research and high demand for life changing results, service can be also be a key differentiator in the market as well as in the profitability of those break through. Products can be used in Research or in Clinical settings. But the risk of significant injury, even death, puts special pressures on this market and specifically its service organization to be responsive to requests as well as being very accurate about the services performed and records kept. Changement is critical to avoid possible castrophic results potentially costing the company huge financial penalities.

Break throughs may come at a high price and may require new financial models to enable access to as many patients as possible. In addition, service models may need to be changed to work with the financial models including embedding the equipment costs in the service revenue on a per use basis.

How can the Innovation Pipeline help in the BioMedical business?

Our application provides the ability to set parameters based on a configuration selected, making it perfect for handling multiple business models, not all available to all business units world wide.

In addition, the application can handle ranking (e.g, service requests) based on multiple criteria's across different sources of information that may differ per business unit.

The roll out of this new technology required careful change management to meet compliance requirements handled by our application.

Example results

  • Revenues increased 6.4%,
  • patient satisfaction increased 10%,
  • 15% increase in on-time delivery,
  • 30% reduction in paperwork processing time